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Introduction to the Texas ERCOT Electric Power Market

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 the Texas ERCOT ISO including its operations, the fundamentals of day-ahead and real-time energy auctions, LMP, CRRs, generation capacity markets (Resource Adequacy) and the new operational and economic issues raised by the integration of solar, wind, distributed generation (“DER”), demand response (“DR”) and demand side management (“DSM”) resources.

Gain an understanding of the dynamic Texas wholesale and retail competitive markets, and learn how these markets interface with ERCOT ISO energy auctions and ISO operations. Understand, enhance and apply knowledge of the ERCOT’ nodal market operations for Energy, Ancillary Services, Market Settlements, Capacity, Retail and Renewables.

This seminar will also address the rapidly expanding new market opportunities in Texas Renewables – Wind, Solar, etc., Distributed Generation (“DER”), Demand Response and Demand Side Management (“DSM”) as well as the new opportunities that will be emerging from the current re-design of ERCOT Ancillary Services, future Ancillary and Capacity market initiatives and the further unbundling of ERCOT services.

 What you will learn:

  • ERCOT’s market functions, market participants and players and how they interface and do business.
  • The importance of the QSEs' central role in representing market participants before ERCOT.
  • What makes the ERCOT market unique compared to all other ISOs and RTOs.
  • What changed after the move to a nodal market design and major transactional differences.
  • What the "Shadow Price" is, and why it is important and its relationship to LMP.
  • Nodal System: LMPs, congestion management and CRRs and settlement processes.
  • The functions and importance of congestion revenue rights and why these financial instruments are used.
  • ERCOT's zonal and local congestion management operations and differences.
  • Day-Ahead and real-time markets for energy, ancillary services and capacity – RUC and HRUC.
  • The workings and relationship of the day-ahead and real-time markets.
  • How Bilateral and Auction Markets interface and how they work independently and together.
  • Wholesale pricing, retail market Functions and structures for retail business.
  • The key wholesale market settlement operations under the nodal market.
  • How ERCOT's retail market works and what's going on in this market.
  • The controversial relationships between reserve margins and real-time energy price market caps.
  • What Generation, Transmission and infrastructure issues ERCOT faces now and over the next ten years.
  • ERCOT has targeted demand response deployments, renewable energy and DSM programs and those on the horizon.
  • The interconnectivity issues in natural gas and power markets.
  • How the different IT systems fit together and are used in the Wholesale and Retail Markets.
  • What are the steps for planning and accomplishing resource interconnections with ERCOT.

Instructor

Greg Peters

President, EnVision Energy Solutions
EnVision Energy Solutions

Greg Peters is President, EnVision Energy Solutions and the natural gas consultant to the Midwest ISO and author of several of the MISO’s electric – natural gas infrastructure interdependency studies. Mr. Peters has over 25 years of energy industry consulting and management experience and is an expert in energy products and services marketing and supply planning, procurement and energy management. Mr. Peters' consulting experience includes several years as Manager of Price Waterhouse's National Public Utilities Consulting Services and currently as President, Envision Energy Solutions Company. Envision provides gas, electric and fuel management consulting services to a wide range of industrial, commercial and municipal end-users. Previously, Mr. Peters has had fuel procurement, fuel management and planning responsibilities for Columbia Energy Services Corporation, Equitable Gas Company, and The Peoples Natural Gas Company.

Introduction to the Texas ERCOT Electric Power Market Agenda

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FAQs


Who should attend?

Professionals from natural gas and electric utilities, pipelines, attorneys; government regulators, traders & trading support staff, energy producers and marketers, banks and hedge funds, government regulators, buyers and operators, accountants & auditors, industrial trade groups, shipping and cargo executives, equipment manufacturers and suppliers, environmentalists, and anyone needing a solid overview and foundation in understanding how ERCOT works and current issues.

Are there prerequisites and advance preparation?

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

Program level?

Basic level. This fundamental course begins with basic material and then proceeds to the intermediate level.

Delivery method?

Group-live.

What is the dress code?

Casual.

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.

Knowledge Center reserves the right to cancel/change programs, content, speakers or venue at any time. Knowledge Center reserves the right to make portions of the program registration information available to program sponsors. 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 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

11 credit hours
PGS Energy Training is registered with the Global Association of Risk Professionals as an Approved Provider of continuing professional education (CPE) credits. PGS Energy Training has determined that this program qualifies for 11.0 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.
11 credit hours
Be aware that state boards of accountancy have final authority on the acceptance of individual courses for CPE credit. As of January 1, 2002, sponsored learning activities are measured by program length, with one 50-minute period equal to one CPE credit. One-half CPE credit increments (equal to 25 minutes) are permitted after the first credit has been earned in a given learning activity. You may want to verify that the state board from which your participants will be receiving credit accept one-half credits.