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Fundamentals of the Electric Power Industry

Presented in partnership with PGS_Logo

This in-depth, two-day program provides a comprehensive and clear explanation of the structure, function and current status of today's U. S. electric power industry. The seminar also addresses the smart grid, renewable power sources, ISO day-ahead auction markets, LMP, FTRs, power marketing within and outside of ISOs, and how physical and financial power is traded by industry participants counterparty-to-counterparty and on the Intercontinental ("ICE")and Chicago Mercantile ("CME") Exchanges. The impact of the new Dodd-Frank Law is also addressed.

What you will learn:

  • The structure and function of the electric service system, its terminology and units, and the properties of electricity
  • How the North American power grid is structured and how it operates; how the major sources of electric generation work ( coal, natural gas, nuclear, renewables ) and the issues they face; how control areas, spinning reserves, AGC and economic dispatch works
  • Who the key players in the industry are, and why the industry is so difficult to restructure
  • The differences between cost-of-service regulation, open access markets, ISOs, transcos, ITCs, RTOs, and ICTs
  • What the "smart grid" is, a summary of the different business models being tested, a discussion of the key issues and and how the smart grid is likely to develop
  • The major issues facing wind energy, solar and other renewables and how these generation sources relate to the proposed buildout of the backbone power grid
  • How ISO Day-Ahead auction markets operate, or will operate, in PJM, New York, Texas, California and other markets; what locational marginal pricing (LMP) is, and why it is important; how LMP is applied in the ISO markets, and why FTRs, TCCs, CRRs, TLRs, RPM and forward capacity markets are important concepts to understand. (The seminars presented at the Houston and California locations will discuss the Texas and California/Western Power markets respectively. Philadelphia, New York and Washington D.C. seminars will focus on PJM, MISO and the New York ISO)
  • The structure and characteristics of the bilateral spot and forward wholesale power markets
  • The terminology, concepts and mechanics of bulk power trading, and the difference between physical, scheduled and contract path power flows
  • Why open access retail electricity markets may finally now develop
  • The basics of executing a wholesale power transaction - including common contract language and what NERC tags are
  • What "sellers choice is", and how forward "daisy chains" form at virtual trading hubs
  • How to financially trade physical power with financial bookouts
  • An overview of the three different types of forward electricity markets: physical, over-the-counter financial and NYMEX futures
  • The basics of the NYMEX electricity futures contract, and how it can be used to hedge electricity price risk
  • An introduction to electricity swaps and Cfds and how these relate to ISO financial transmission rights
  • The definition of heat rates, spark spreads, dark spreads and heat-rate-linked power transactions

Instructor

John Adamiak

President and Founder
PGS Energy Training

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.

Fundamentals of the Electric Power Industry Agenda

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FAQs


Who attends?

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.

Are there prerequisites?

This fundamental level, group-live seminar has no prerequisites. No advance preparation is required before the seminar.

Is there a dress code?

Dress is casual for all seminars.

What is the cancellation policy?

Cancellations for this program are eligible for a full refund, less a $150.00 administrative fee, if received at least 15 business days prior to the start of the program. Cancellations received after that date but at least 5 business days prior to the start of the program receive a credit in the amount of the registration fee, less a $150.00 administrative fee, to attend another Knowledge Center program within 13 months. Cancellations received fewer than 5 business days prior to the start of the program are not eligible for a refund or credit.

Attendee substitutions from the same company may be made at any time.

In the event of a cancellation from a group discount, refunds or credits are issued beginning with the most heavily discounted price, minus a $150.00 administration fee.

"No shows" - or those who cancel within 15 days of the program - and have registered under the Invoice option, remain liable for the full program fee.

The Knowledge Center reserves the right to cancel/change programs, content, speakers or venue at any time. The Knowledge Center reserves the right to make portions of the program registration information available to program sponsors. The Knowledge Center will not be held liable for any costs incurred by registrant due to individual registration cancellation. In the event that a seminar is cancelled due to inclement weather, faculty cancellation or force majeure, the Knowledge Center will refund the registrant's tuition in full, however the Knowledge Center will not be liable for incidental or consequential out of pocket expenses incurred by the registrant. If you have questions regarding the Knowledge Center's refund, complaint or program cancellation policy, please call us at (434) 951-7786.

Registrant, as an individual person attending a Knowledge Center conference, seminar, or other program, hereby grants permission to the Knowledge Center to use and publish his or her image, likeness, or testimonials collected in connection with the program for advertising and trade purposes in connection with the Knowledge Center’s conferences, instructional, and/or marketing activities.

Continuing Education Credits

14.5 CPE Credits
National Association of State Boards of Accountancy This live group seminar is eligible for 14.5 CPE credits. Be aware that state boards of accountancy have final authority on the acceptance of individual courses for CPE credit. PGS Energy Training is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.
14.5 CPE Credits
PGS Energy Training has determined that this program qualifies for 14.5 credit hours. If you are a GARP CPE participant, please record this activity in your Credit Tracker at www.garp.org/cpe. Please inform PGS Energy Training that you are a GARP CPE participant upon seminar registration. The Global Association of Risk Professionals (GARP) is a not-for-profit membership association dedicated to preparing professionals and organizations for making better-informed risk decisions. GARP's membership represents more than 150,000 risk management practitioners and researchers at academic institutions, banks, corporations, government agencies, and investment management firms in 195 countries and territories. GARP administers the Financial Risk Manager (FRM) and Energy Risk Professional (ERP) Exams - certifications recognized by risk professionals worldwide. Visit www.garp.org/cpe.