This two-day program is for professionals who are looking for a comprehensive and clearly explained understanding of the structure, function and current status of today’s U. S. electric power industry; how the PJM, Texas and other ISO markets operate; and the fundamentals of wholesale power trading. View Past Seminar Attendees

What You Will Learn:

1. The structure and function of the electric service system, its terminology and units, and the properties of electricity.
2. How the North American power grid is structured and how it operates; the different types of electric generation and the issues we face; and how control areas, spinning reserves, AGC and economic dispatch works.
3. Who the key players in the industry are, and why the industry is so difficult to restructure.
4. The differences between ISOs, transcos, ITCs, RTOs, and ICTs; and what today's ISO/RTO status is by region (Includes a detailed map). 
5. 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 PJM and other ISO markets, and why FTRs, TCCs, CRRs, TLRs, RPM and forward capacity markets are important concepts to understand. (The seminar presented at the Houston location will discuss the Texas power market  in addition to PJM.)

You will also Learn:

1. The structure and characteristics of the bilateral spot and forward wholesale power markets.
2. The terminology, concepts and mechanics of bulk power trading, and the difference between physical, scheduled and contract path power flows.
3. How to execute a bilateral power transaction - including common contract language, obtaining transmission capacity, scheduling and NERC tagging requirements.
4. What sellers choice is, and how forward "daisy chains" form at virtual trading hubs; what a financial bookout is; and how bulk power can be financially traded.
5. An overview of electricity futures contracts, swaps, Cfds and other electricity financial instruments

Seminar Agenda

Day 1:

• The properties and terminology of electricity - current, power, var, voltage, etc
• An overview of the electric service system, and how it works
• The pros and cons of different types of electric generation, and how they work.
• The structure and function of the North American power grid
• Who the various industry participants are and their roles
• Why restructuring today’s power markets is such a complicated task.
• How control areas function, what spinning reserves are, and how the lights are kept on.
• What happened with the August, 2003 blackout
• A summary of FERC Orders 888, 889, 2000 and SMD
• The difference between ISOs, ITCs, Transcos and RTOs are, and where they stand today.
• What TLRs, ATC, OASIS, pancaking rates, shrinkage and other terms mean.
• The different types of electric generating units and how the are economically dispatched.
• The different types of electric transmission service and how it's secured
• What locational Marginal Pricing (LMP) is and why it's used
• The difference between auction and bilateral bulk power markets and the pros & cons of each
• The fundamentals of the PJM, MISO, ERCOT or California market (Depending on seminar location) and the role of LMP
• How the PJM/MISO/ERCOT/California two-settlement energy and Day-Ahead markets operate, or will operate.
• The meaning of the terms "RPM" and "Forward Capacity Markets " and why these issues are important.
• A summary of the key issues of today and where the U. S. electric power industry is headed, including a brief discussion the implications of transmission rates on the building out the power grid.
• The pros & cons of PJM's RPM generation capacity planning proposal versus MISO's energy-only market-based approach.
• What PJM FTRs are; their equivalent names in other ISOs, and how and why these financial instruments are used.
• An overview of the similarities and differences between the PJM, New York, New England, MISO, ERCOT and/or California markets. (Depending on seminar location)

Day 2:

• The fundamentals of bilateral bulk power trading including trading units
• The structure of electricity spot and forward markets
• Common terminology and contract language used for bilateral power transactions.
• How to secure transmission capacity using OASIS
• How to calculate shrinkage and line losses
• How to prepare a NERC tag
• Why " Sellers' Choice" is an important concept to understand.
• How power marketers and traders buy and sell forward power at "virtual hubs" in PJM, MISO and other locations.
• The difference between physical, scheduled and contract path power flows.
• How to financially trade physical power with financial bookouts.

Your Instructor

John Adamiak is President and Founder of PGS Energy Training and is 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 12 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.

Who Should Attend this Seminar?

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 electric utilities; power marketers; banks & financial houses; industrial companies; accounting, consulting & law firms; municipal utilities; government regulators and electric generators.

Prerequisites

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

Why Choose PGS?

PGS seminars are known for their clear explanations and in-depth content. Register for a PGS program today, and team up with the leader in electric power and energy education. Join over 5,000 energy and financial professionals who have already attended one or more of PGS's proven courses. View Past Seminar Attendees

Hotel & Seminar Information

This two-day seminar will be held at the hotels listed below or can be conducted on-site at your facilities. The seminar will start promptly at 8:00 AM and will finish at 4:00 PM on the first day. On the second day, the seminar will resume at 8:00 AM and will finish at 12:00 PM (Noon). Attendees will also receive a professionally produced seminar manual of over 400 slides that serves as a valuable office reference. Dress is casual for all seminars.  

NYC Torch Club (NYU Campus)
18 Waverly Place
New York, NY 10003
Telephone 1-212-998-6724
View Venue Website

PGS Energy Training will conduct this seminar at the Torch Club on the campus of New York University. Because of the diversity of hotels found in the area, PGS Energy Training will not be holding a block of sleeping rooms with one particular hotel. Should you need a list of local hotels in the area, please contact us at 412-521-4737 and we can help you with your accommodations.

Crowne Plaza Philadelphia City Center
1800 Market Street
Philadelphia, PA 19103
Telephone 1-215-561-7500
View Hotel Website

PGS Energy Training has secured a limited number of Crowne Plaza hotel rooms at a special discounted rate. Please dial 1-215-561-7500 and mention the PGS Energy Training event for your discounted rate. Please sign up early to receive your special room rate. This hotel frequently sells out.

Registration Fee & Discounts

Register Now and invest in your future. The price for this two-day seminar is $1,495 (USD).

• Additional attendees and government employees receive a 10% discount.
   
• Sign up for 4 or more classroom seats during the same month and all attendees will receive a 20% total discount. ( If you plan to register 4 or more classroom seats, but want attendees to pay by separate credit cards, register one party now and mention this fact in the "Comments" section of the registration form. We will manually subtract the 20% discount from the first registrant's seminar fee. Tell other parties in your group to mention your name when they register, and we will give them the 20% discount as well.) Please call 412-521-4737 for more information.
  

Payment & Cancellations

Payment is due prior to the start of the seminar by Visa, Master Card, American Express, Diners Club, or corporate check. Seminar fees will be charged to your credit card at the time of registration unless other arrangements have been made. Please make checks payable to "PGS Energy Training" 43 Fawnvue Drive, Suite 700 • Mckees Rocks, PA 15136. Cancellations can be made up to three (3) business days prior to the start of the seminar for a full refund. No refunds will be made thereafter, but credit will be given toward future workshops. Substitutions may be made at any time. For more information on PGS policies regarding administrative matters and complaint resolution, please contact our offices at 412-521-4737.

CPE Credits

This group live seminar is eligible for 11.0 CPE credits. 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.

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. CPAs interested in attending any seminars  should contact our offices for details on CPE credits granted and any prerequisite requirements.