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31st Annual Power and Gas M&A Symposium

Produced by the Knowledge Center, an executive conference from S&P Global Market Intelligence.

Celebrating its 31st year, the Power and Gas M&A Symposium continues to be the pre-eminent executive conference in the industry. Bringing utilities, power generators, renewables, and Wall Street together, this event consistently sets the tone for strategic decisions for the year.

2017 has ushered in new leadership at the DOE, EPA, FERC, and the Supreme Court. What does this mean for M&A as a sound growth strategy for companies? Regulatory scrutiny, valuations, and market prices continue to shape the industry, and drive decision making.

This year’s conference will address those issues and more, bringing together industry experts and leaders. Backed by data and analytics you won’t find at other events, you will receive essential intelligence necessary to make informed decisions.

Whether you are anticipating M&A as a buyer or seller, make plans to attend this important executive event.

Save the date to join us for the 31st annual symposium January 30 - February 1, 2018 at The Grand Hyatt. Please check back as registration will open in the coming weeks and we will continue to update the agenda and full roster of speakers for the 2018 event. 

2017 Overview Video

31st Annual Power and Gas M&A Symposium Agenda

TIME
TUESDAY, January 30th
Pre-Conference Workshop

The Deals Legacy for Power and Utility Companies: Rewinding the past for a glimpse into the future

In this workshop we will explore how the utility industry has restructured by examining the types of deals that have been done, why they were done, and what lessons have been learned. We will rewind over the last two decades of industry mergers and acquisitions activity to glean critical insights into how deals activities have shaped and supported the utility sector’s growth path and discuss important lessons learned that can point the way into the future.

We will also debate current challenges facing the sector and how these factors will influence transactions going forward. Dealmakers face an uncertain landscape in 2017, but they remain alert and ready to transact when conditions are favorable. The US market remains attractive but economic and regulatory changes may influence how deals are contemplated.

12:00 pm
Pre-Conference Workshop Registration
1:00 pm
Workshop Session Begins
  • • How has the size, scale and composition of the utility sector changed over the last 20 years?
  • • What were the historical drivers of large scale transactions?
  • • How has the industry evolved in the types of transactions consummated and what patterns have emerged?
2:45 pm
Networking Refreshment Break
3:00 pm
Workshop Session
  • • What are the key drivers impacting the industry today?
  • • How do leading companies plan for an integration and ensure post-merger value capture?
  • • How have regulators historically evaluated transactions?
  • • What strategies exist that will enhance outcomes with regulators?
  • • Are we at an inflection point with utility M&A?
5:00 pm
Workshop Concludes
TIME
WEDNESDAY, January 31st
8:00 am
Registration and Continental Breakfast
8:30 am
Welcome and Introductions
8:35 am
Keynote Speaker
9:00 am
Opportunities and Obstacles: CEO Roundtable Perspective
In this executive panel, we hear from the decision-makers as they examine the industry, highlighting how companies are changing their strategies in response to the industry. We will examine growth opportunities such as natural gas and renewables, as well as obstacles to growth, such as regulatory scrutiny.
10:15 am
Networking Break
10:45 am
Successful M&A in the Current Environment: Investment Banking Perspective
  • • Valuations continue to be high; have we peaked?
  • • How are deals being structured, and what is the POV of continues low interest rates?
  • • Regulated versus unregulated: Is there a strategic rationale for either? Is it short sighted to look at current prices as a determining factor or is there a longer play?
12:00 pm
LUNCHEON
1:00 pm
Developments in the Generation Sector
  • • What are the key drivers of valuation?
  • • What effect will uncertainty over the fate of CPP have on anticipated coal retirements—deferred retirements or is the die already cast?
  • • Which ISO markets are viewed most favorably by generation buyers and sellers?
  • • What are the implications of certain government sponsored programs, such as ZECs to keep nuclear?
  • • Will the “hybrids” continue to divest and move back to the less volatile regulated model?
  • • Will competitive wholesale generation continue to “marry up” with retail suppliers?
  • • Will wind and solar M&A begin to rival gas-fired generation sales?
  • • How do “corporate” PPAs play into the M&A market for renewables?
  • • What is the market for financing generation acquisitions?
2:15 pm
Networking Break
2:30 pm
Special Sessions presented by:

       Session A                      Session B

2:30 pm     Special Breakout Sessions (Round 1)

                   Session A – ‘Interactive Strategic Issues Discussion: What Would Yogi Berra Say?’ - ScottMadden
                   Session B – ‘Finding Headroom in a Rising Rate Environment’ – Charles River Associates

3:10 pm     Breakouts Transition Break

3:20 pm     Special Breakout Sessions (Round 2)

                   Session A – ‘Interactive Strategic Issues Discussion: What Would Yogi Berra Say?’ - ScottMadden
                   Session B – ‘Finding Headroom in a Rising Rate Environment’ – Charles River Associates

4:00 pm
Networking Break
4:15 pm
Renewable Energy: Investor Perspective
  • • Hear from dealmakers as we examine key market trends impacting renewable energy growth, as well as alternative financing techniques utilized to structure the deals. What do the PTC and ITC extensions mean for renewables M&A?
  • • Hear from the dealmakers as we examine key market trends impacting renewable energy growth, as well as alternative financing techniques utilized to structure the deals. Discuss how PTC and ITC will impact the market, and if development rights through PPA’s will be valued over M&A.
5:30 pm
Day One Concludes
Followed by cocktail reception
TIME
THURSDAY, February 1st
8:00 am
Continental Breakfast
8:45 am
Welcome & Day One Recap
9:00 am
What’s Happening on Capitol Hill: Federal Policy Outlook
  • • The transition to a new Presidential Administration has elevated certain key energy and regulatory objectives like expanded oil and gas production, renewed examination of the role of coal, and a desire for specific and systematic regulatory reform. How effective are these initiatives likely to be, and who’s really in charge?
  • • The Congress shares the President’s political affiliation and some of his policy objectives. What does the Republican Majority in both Chambers mean for energy, tax policy, infrastructure and other issues?
  • • The Clean Power Plan and the Paris Agreement were two indications of the Obama legacy on global climate change: what do recent political developments mean for these initiatives and for the prospects of addressing climate issues?
  • • What does all this recent political change mean specifically for the power sector?
9:45 am
International Investments: US M&A in a Global Environment
  • • Continued Canadian interest in US assets
  • • Japan rising: Several recent deals have come from Japanese backed investors; will this interest continue?
  • • Mexico and Latin America: Where are the opportunities and are they worth the risk?
  • • What is the appetite for Africa?
10:30 am
Networking Break
11:00 am
Restructuring the Deal
  • • With the Fed holding off on interest rate hikes, will the balance between debt v equity investments change?
  • • How are the ratings agencies responding?
  • • As we examine dealmaking, are ratings agencies concerned with creditworthiness, given the higher valuations?
  • • How will the MLP and YieldCo market fare in 2017?
  • • What is the impact is YieldCos go private?
12:15 pm
Midstream Sector: Continued Demand?
  • • Valuations have been high, and some companies are willing to pay that premium given the returns
  • • Midstream activity continues to account for some of the largest deals; will this trend continue? Who are the buyers?
  • • Obstacles to acquisitions (regulatory, financial, valuation) and outlook for 2017
1:00 pm
Closing Remarks
1:15 pm
Program Concludes
Buffet lunch
More
TBD

Event location

The Grand Hyatt
Park Avenue at Grand Central
New York, NY, US
+1 (212) 883-1234

Your registration includes all conference materials, continental breakfast and lunch both days, and the evening cocktail reception at the end of Day One. Registration for just the pre-conference workshop covers that day’s activities only.

Sponsors


Download our Sponsorship Guide

Program Partners

Baker Botts LLP        Bracewell        Pwc Strategy&

Downloads & FAQs

Who attends?

- Senior-level executives at utilities and merchant generators
- Investment banking professionals
- Industry regulators
- Asset managers and analysts
- Private equity and sovereign fund investors
- Legal and management advisors to the industry

What is the dress code?

Formal business attire.

What are the terms of registration?

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.