Produced by the Knowledge Center, expert training from S&P Global Market Intelligence
In this comprehensive analyst training workshop, you will gain unique insights into the power and gas sectors. Working with industry experts in the field, you will gain a better understanding of how power and gas markets work, factors that impact each segment of the value chain, and learn how to measure industry performance.
Expert presenters will explain important topics such as capital markets, rate case design and how it impacts earnings and profitability, financial statement and credit analysis, and asset valuation. You will participate in a hands-on case study, featuring multiple approaches to the analysis of a publicly-traded power company. You will move beyond academic methodologies and come away with practical knowledge you can use immediately.
Upon completion, you will have a comprehensive understanding of the power and gas markets, and be prepared to make more informed, strategic decisions, backed by expert industry analysis and data.
As an attendee, you will:
- Break down power markets and gas markets, identifying market factors, risks, and opportunities, along the value chain
- Get an introduction to asset and enterprise-level valuation techniques – to help your firm take advantage of M&A opportunities and optimize pricing
- Gain a better understanding of what a rate case is, how it is designed, and the importance of a rate to a regulated utility
- Learn the key measures of profitability and financial strength in the power and natural gas industries – to give you the understanding you need to perform all analysis in the sector
- Understand various capital-raising instruments and the impact of capital management strategies under various market scenarios to help your firm minimize funding costs and risks
- Gain perspective on the economic outlook for individual companies and the sector as a whole, allowing you to make better-informed decisions and understand your firm’s position in the industry
- Gain a better understanding of financial statement and credit analysis, and how credit rating agencies interpret companies and markets
Key topics include:
- The power value chain: generation, transmission and distribution
- The natural gas value chain: transportation, storage and distribution
- Assessing the credit quality of power and natural gas companies
- Analyzing the financial statements of companies in the sector
- Valuation techniques and analytical tools
- Strategies and tactics by which power and natural gas companies access and manage capital
- Macroeconomic trends affecting earnings and returns in the power and natural gas industries
- The impact of federal and state regulatory forces
Familiarity with basic finance and accounting concepts; pre-class reading material, which will be provided prior to the program; a calculator (or equivalent phone app) for use during the seminar.
"An excellent introduction to the industry; a 'must attend' for new analysts."
– Senior treasury analyst, electric utility company
"Great overview for both debt and equity analysis."
– Credit analyst, retail banking company
"Quickly expanded my understanding of the industry."
– Business analyst, an engineering company