If you want to better understand the U.S. electric power industry and learn the different ways power is bought and sold, this in-depth seminar is for you.
This program provides a comprehensive and clear explanation of the structure, function, and current status of today's U. S. electric power industry; the many industry topics listed below; the challenges and opportunities associated with developing new power lines, solar, wind, battery, and other renewable energy projects; how ISO day-ahead energy auctions, CRRs, and FTRs work, and detailed examples of how physical and financial (virtual) power transactions, power purchase agreements (PPAs), tolling, and heat rate deals are done.
Each part of this complex industry will be explained piece-by-piece, and then the pieces will be integrated so that you will leave the seminar with an understanding of "how it all fits together."
What You Will Learn
- The properties and terminology of electricity - current, power, var, voltage, etc (pre-seminar reading material)
- The electric service system, and how it works
- The structure and function of the North American power grids.
- How control areas and balancing authorities function to "keep the lights on."
- The pros, cons, and levelized costs of different types of electric generation
- Fundamentals of utility cost-of-service regulation, open access markets
- Why utilities sometimes resist renewable energy, distributed energy resource (DER"), rooftop solar, and conservation projects.
- The various industry participants are and what their roles are.
- Federal vs state regulatory conflicts, and why restructuring today's power industry and the building new power lines is such a complicated task.
- The difference between regulated and merchant high voltage power lines, and what FERC market-based transmission rates are.
- The structure and functions of ISOs, RTOs, the Western Energy Imbalance Market ("WEIM"), and the new Southeast Energy Exchange Market ("SEEM").
- How ISO day-ahead energy auctions work, and how they add value to the power industry
- What locational marginal pricing (LMP) is, and why LMP is used
- What demand response ("DR"), distributed energy resources ("DER"), and battery energy storage systems ("BESS") are, and how these resources can be aggregated to form virtual power plants.
- The challenges and opportunities facing wind energy, solar, batteries, demand response, and DER and other renewables.
- Why understanding generation reserve margin, forward capacity markets, capacity payments, resource adequacy, and California's "FRACMOO" is important.
- A summary of today's key industry issues and where the U. S. electric power industry is headed, including a discussion of the interconnection queues, renewable energy, and the building of new transmission lines.
What You Will Also Learn
- The difference between auctions and bilateral bulk power markets
- Introduction to bilateral energy and electricity markets: Important concepts and terminology
- The difference between brokers, ICE OTC, futures exchanges, market-makers, traders, and power marketers, and how they add value.
- Four different ways to manage price, price spread, and asset development risk.
- The fundamentals of bilateral physical power transactions and important deal-making terminology.
- How power marketers and traders use "seller's choice" to create virtual trading hubs.
- The standard industry contracts used for physical and financial power transactions, how to buy transmission service using OASIS, how to schedule delivery using NERC tags, and how financial "book-outs" work. Includes detailed step-by-step transaction examples.
- Financial power contracts, commodity swaps, CFDs, FTRs. CRRs, and ISO Incs, Decs, and virtual/convergence bidding. Includes examples
- How financial power contracts work in combination with ISO day-ahead energy auctions to create a win/win situation, and why few power marketers or traders ever go to physical delivery within and ISO footprint.
- How power marketing is done within an ISO location, how power can be "transported" virtually, NITS, TAC, UCAP, and ancillary services charges, and how FTRs, CRRs, and swaps can help hedge basis risk. Includes detailed step-by-step transaction examples.
- The different types of heat rates and spark spreads, and why they are important.
- The difference between power purchase agreements ("PPAs") and "Tolling Deals." Includes detailed Appendix and deal Term Sheet.
- The magic of how heat rate transactions can be used to hedge electricity risk and structure profitable deals. Includes detailed step-by-step transaction examples.
Course Content
DAY ONE
- The properties and terminology of electricity - current, power, var, voltage, etc (pre-seminar reading material)
- The electric service system, and how it works
- The structure and function of the North American power grids.
- How control areas and balancing authorities function to "keep the lights on."
- The pros, cons, and levelized costs of different types of electric generation
- Fundamentals of utility cost-of-service regulation, open access markets
- Why utilities sometimes resist renewable energy, distributed energy resource (DER"), rooftop solar, and conservation projects.
- The various industry participants are and what their roles are.
- Federal vs state regulatory conflicts, and why restructuring today's power industry and the building new power lines is such a complicated task.
- The difference between regulated and merchant high voltage power lines, and what FERC market-based transmission rates are.
- The structure and functions of ISOs, RTOs, the Western Energy Imbalance Market ("WEIM"), and the new Southeast Energy Exchange Market ("SEEM").
- How ISO day-ahead energy auctions work, and how they add value to the power industry
- What locational marginal pricing (LMP) is, and why LMP is used
- What demand response ("DR"), distributed energy resources ("DER"), and battery energy storage systems ("BESS") are, and how these resources can be aggregated to form virtual power plants.
- The challenges and opportunities facing wind energy, solar, batteries, demand response, and DER and other renewables.
- Why understanding generation reserve margin, forward capacity markets, capacity payments, resource adequacy, and California's "FRACMOO" is important.
- A summary of today's key industry issues and where the U. S. electric power industry is headed, including a discussion of the interconnection queues, renewable energy, and the building of new transmission lines.
DAY TWO
- The difference between auctions and bilateral bulk power markets
- Introduction to bilateral energy and electricity markets: Important concepts and terminology
- The difference between brokers, ICE OTC, futures exchanges, market-makers, traders, and power marketers, and how they add value.
- Four different ways to manage price, price spread, and asset development risk.
- The fundamentals of bilateral physical power transactions and important deal-making terminology.
- How power marketers and traders use "seller's choice" to create virtual trading hubs.
- The standard industry contracts used for physical and financial power transactions, how to buy transmission service using OASIS, how to schedule delivery using NERC tags, and how financial "book-outs" work. Includes detailed step-by-step transaction examples.
- Financial power contracts, commodity swaps, CFDs, FTRs. CRRs, and ISO Incs, Decs, and virtual/convergence bidding. Includes examples
- How financial power contracts work in combination with ISO day-ahead energy auctions to create a win/win situation, and why few power marketers or traders ever go to physical delivery within and ISO footprint.
- How power marketing is done within an ISO location, how power can be "transported" virtually, NITS, TAC, UCAP, and ancillary services charges, and how FTRs, CRRs, and swaps can help hedge basis risk. Includes detailed step-by-step transaction examples.
- The different types of heat rates and spark spreads, and why they are important.
- The difference between power purchase agreements ("PPAs") and "Tolling Deals." Includes detailed Appendix and deal Term Sheet.
- The magic of how heat rate transactions can be used to hedge electricity risk and structure profitable deals. Includes detailed step-by-step transaction examples.
Speakers
John Adamiak
President PGS Energy
John Adamiak is President and Founder of PGS Energy Training and an expert in energy derivatives and electric power markets. Mr. Adamiak is a well-known and highly effective seminar presenter who has over 20 years experience in the natural gas and electric power industries. His background includes 15 years as a seminar instructor, 9 years of energy transaction experience, and 6 years of strategic planning and venture capital activities. John's academic background includes an M.B.A. degree from Carnegie Mellon University.
Who Should Attend
Among those who will benefit from this seminar include energy and electric power executives; attorneys; government regulators; traders & trading support staff; marketing, sales, purchasing & risk management personnel; accountants & auditors; plant operators; engineers; and corporate planners. Types of companies that typically attend this program include energy producers and marketers; utilities; banks & financial houses; industrial companies; accounting, consulting & law firms; municipal utilities; government regulators and electric generators.
Location
ADDRESS
Doubletree By Hilton Hotel Philadelphia Center City
237 South Broad Street
Philadelphia
PA 19107
United States
