Industry
Electric Market Dynamics
Get an inside look at electric markets and services, and the strategies used in both regulated and competitive wholesale and retail markets
In this interactive two-day seminar you will gain an in-depth understanding of U.S. electric markets, the opportunities and risks that market participants encounter, and the strategies they employee to manage risk and achieve success. If a clear understanding of electric markets and how services are bought and sold in them can benefit you, Electric Market Dynamics can help you make sense of this complex topic.
You will learn basic concepts of electric transactions, who the various market participants are, the impacts of supply and demand factors, how prices are determined, and the various market models in use in the U.S. today. You will become familiar with the various services sold in electric markets, how they are priced, how deals are structured and how they change from one market to the next. And you will learn how generation and transmission are scheduled and priced in competitive ISO markets as well as regulated wheeling markets. The course also provides an insight into techniques for identifying opportunities and risks faced by participants in electric markets, the ways in which opportunity and risk can be managed, and examples of strategies used in today’s marketplace.
This course was designed with your participation in mind! Questions and discussion among attendees are highly encouraged. And you will participate in a number of group exercises that will give you a real-world perspective of how electric markets actually work. You will leave this information-packed seminar with relevant and current information that can be applied immediately to your work!
Prerequisites: Electric Business Understanding, or a comprehensive understanding of the electric business.
Contact us at 866-765-5432 or 'info' for more information.
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Chicago, IL
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10/17/2012-10/18/2012
Omni Chicago Hotel
676 N. Michigan Ave.
Chicago, IL 60611
1-800-THE-OMNI
$1390 $1190
(discount expires 9/26/2012)
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Is Electric Market Dynamics the right seminar for me?
If you are a professional in the electric business but struggle to understand the complexities of electric markets and services, this seminar is for you! Whether you have recently moved into a position that requires you to interact with electric markets or you are a veteran that needs a deeper understanding of the complex details, you will benefit from this comprehensive description of how markets work and how market participants survive and succeed.
While anyone involved in electric markets should consider this seminar, here are the types of employees who have found this class especially helpful to their continued success in the industry:
- Previous participants in Enerdynamics' Electric Business Understanding seminar who are ready to take their knowledge to the next level
- Finance and accounting professionals providing support to ISOs, traders, procurement groups, merchant generators, transmission owners, and retail marketers
- Employees in utilities or retail marketing procurement functions needing a deeper understanding of wholesale markets
- Generation planners and project developers for utilities, merchant generators and renewable energy companies
- Legal professionals providing services to clients involved in electricity markets
- Regulatory professionals overseeing companies involved in electricity markets
- Sales professionals with clients who are electric market participants
- Professionals in support functions for wholesale trading and risk management
- System operators wanting a deeper understanding of the needs of market participants
- Transmission planners and developers
- Utility account representatives and department managers working for a company in a region with competitive wholesale markets
- Professionals who have recently joined merchant generation, wholesale marketing, transmission, retail marketing, or ISO organizations
How will Electric Market Dynamics help me?
If you are a professional working for an organization involved in electric markets you probably understand pieces of how markets work, but haven’t had the time or opportunity to put them all together. Maybe you are fuzzy on how financial transmission rights (FTRs) work, or can’t figure out how locational marginal prices are calculated. Maybe you understand the detailed intricacies of how a specific ISO market functions but don’t understand how market participants buy and sell electric services in bilateral and electronic exchange markets. Or maybe you are serving a client active in those markets and need to understand exactly how they work, what services are traded where, and what all the acronyms mean. If so, this seminar is for you! You will gain an understanding of electric markets, services traded in them, how the various markets and services relate to each other, and strategies used by market participants. All explained clearly and concisely. You will return to your job with a solid understanding of electric markets and a foundation of knowledge that will help you learn the fine points of your specific market.
In two information-packed days, this dynamic course will provide you with a solid understanding of:
- Basic market concepts including demand, supply and factors driving price
- Who market participants are and what their roles are
- The various electric market structures in North America including regulated and competitive wholesale and retail markets
- Details on bilateral, exchange, ISO, and regulated markets as well as the option of self provision
- Details on each of the services traded in markets including capacity, energy, ancillary services, transmission rights, renewable energy credits, and emission allowances including what they are and how they are structured
- How each of the various markets set prices
- Techniques used to forecast and evaluate supply, demand and price
- Concepts used to measure value, risk and opportunity
- Techniques used to manage risk
- Market strategies used by generation, wholesale and retail market participants to achieve success
Introduction
- What electric markets are and why we have them
- Monopoly vs. competitive markets
- The need for the ISO in competitive markets
- Physical properties of electricity that impact how markets can be structured
Market Concepts
- Market participants – supply
- Market participants – T&D
- The concepts of long and short
- Typical needs of various participants that markets must satisfy
- Hourly, monthly and annual load curves
- Key factors driving electric demand and how it can be forecasted
- U.S. generation capacity and output by fuel type
- Generation characteristics that determine how units are dispatched
- Factors impacting price (marginal heat rate, fuel costs)
- Generation operating expenses and flexibility
- Emissions constraints
- Locational value of generation
- Demand side management as a supply source
- Key factors driving the availability of electric supply
- Determining the dispatch curve for different system conditions
- How dispatch curves vary regionally
- How the dispatch curve drives price
- The price duration curve
- How when a customer uses power drives cost and value
Market and Services Details
- The factors that define market structure
- Five idealized market models (ranging from monopoly to full retail competition)
- Electricity market structures by state
- The various types of electric markets defined (bilateral, exchange, ISO, regulated plus the alternative of ownership of assets and self-provision)
- Electric services and features
- Details on each type of service (definition, how services are typically structured, which markets they are bought and sold in)
- Forward capacity
- Forward energy
- Day-ahead energy
- Real-time energy
- Ancillary services
- Transmission rights
- Retail sales
- RECs and emissions allowances/offsets
- What are trading arrangements?
- The Wheeling model (overview and how markets work where there is no ISO)
- The Integrated ISO model (overview and how markets work where there is an ISO)
- Capacity obligations and resource adequacy
- Scheduling energy, ancillary services and transmission under Wheeling and Integrated ISO models
- Locational marginal pricing
- Transmission congestion charges
- Financial transmission rights (FTRs)
- How real-time energy is dispatched and priced
Techniques for Success
- Risk exposures in the energy business
- Risk vs. opportunity
- Use of portfolio theory
- Mark-to-market (MTM)
- Valuing complex assets
- Black-Scholes formula
- Modeling (fundamental vs. technical analysis)
- Scenario modeling techniques
- Stochastic modeling techniques
- Modeling demand (aggregated vs. sectoral models)
- Modeling supply (generation and transmission system models)
- Price modeling
Market Strategies
- What is risk management and what can be done with it
- Value at risk (VaR)
- Stress testing
- Risk management strategies
- How a risk management program is designed and implemented
- Generation bidding strategies
- Structuring supply and sales agreement
- Financial hedging (futures markets, exchanges and OTC)
- How can price exposure be hedged?
- Examples of how risk management tools are used in various markets
"The course explained acronyms used in business that I don't understand. Every topic was useful. I've learned a lot, I'm glad I had the opportunity to attend."
Jinna H.
Ameren
"Clear and easy presentation of complex concepts. Overall great course for any newcomer to the industry with excellent materials and a great instructor."
Alexia W
Ameren
"I was able to understand where the market I am in fits into the spectrum of other markets. The course will enable me to relate to market participants who participate in other markets. Got excellent tips on how to improve internal training materials and delivery."
Ted H.
ERCOT
"All of it was very helpful, so hard to pinpoint one item."
Rae Anne D.
Entergy Services, Inc.
Group discount
Attend this seminar with your workgroup and you can save up to 25%. For every three people from the same company who attend this course, the fourth is free!
Networking reception
In addition to all you will learn, this seminar is also a great networking opportunity. We offer a hosted reception the first night of your course, which gives you the opportunity to continue networking with colleagues in a casual and comfortable environment. This is a great opportunity to develop valuable new relationships with peers in other companies and agencies.
Course length
Two Days
Prerequisites
Electric Business Understanding, or a comprehensive understanding of the electric business.
Seminar times
This seminar begins at 8:30 each day, and ends at 5:00 the first day and 4:00 the second day. But feel free to come early to enjoy complimentary breakfast, ask questions of your instructor and network with other class participants.
Registration fee
$1,390 (save $200 - only $1,190 if paid three weeks prior to seminar). This fee includes continental breakfast, lunch and morning and afternoon breaks. The fee also includes course materials and a networking reception the first night.
Cancellation policy
All class sizes are limited and your place in class is held exclusively for you. Registrations cancelled two weeks or more prior to the seminar date will receive a full refund minus a 10% administrative fee or a credit for 100% of the registration fee good towards any other Enerdynamics product. Registrations cancelled with less than two weeks notice but more than two days notice will receive a credit for 100% of the registration fee good towards any other Enerdynamics product. Registrations cancelled with less than two days notice are not eligible for refund or credit. Substitutions may be made at any time and without additional cost.
Contact us at 866-765-5432 or 'info' for more information.
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CPE credits? Absolutely!
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Bring this seminar onsite
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No risk to you!
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