|
Fundamentals of the U.S. Electric Power Industry
To attend, Call (412) 279-9298 or Register Online
I. Properties of Electricity & Industry Structure
- The difference between power & electrical energy 1-2
- Volts, amperes & watts 1-3
- AC versus DC electric current 1-6
- Apparent power, real power & vars 1-9
- The structure of the electric service system 1-11
- The industry players: IOUs, municipals, NUGs, Rurals, power agencies, IPPs,
EWGs & others 1-12
- PURPA and The Energy Policy Act of 1992 1-23
- Retail "Wheeling"- defined 1-25
- North American Electric Reliability Councils (NERC) 1-26
- The four "Synchronistic Regions", "Interconnects" or "Grids" 1-28
- How electricity moves on a grid: Ohm's law and parallel flows 1-32
- Tight and loose power pools 1-33
- Common forms of electric generation 1-35
- Baseload, intermediate & peaking units 1-40
- System Lambda & Economic Dispatch 1-43
- Control areas, spinning reserve and non-spinning reserve 1-46
- How control areas operate 1-49
- Area Control Error (ACE) 1-54
- How generation dispatch influences available transmission capacity 1-56
|
|
II. Open Access Electricity Markets
- Highlights of FERC Orders 888 & 889 1-64
- OASIS 1-70
- ISOs, Transcos and RTOs 1-72
- FERC Order 2000 1-78
- Poolco versus Bilateral Markets 1-85
- Overview of the PJM market (with comments on the California experiment) 1-88
- Point-to-point versus Network Transmission Service 1-98
- Calculating Available Transfer Capacity (ATC) 1-105
- Transmission congestion 1-118
- Transmission Loading Relief ("TLR") procedures 1-120
- Locational Marginal Pricing ("LMP") 1-126
- Fixed Transmission Rights ("FTRs") 1-130
|
|
III. Overview of Bulk Power Trading
- Introduction 1-135
- Gas versus electricity trading: Similarities 1-136
- Gas versus electricity trading: Differences 1-137
- Power trading units: MWs versus MWhs 1-145
- On-peak and round-the-clock transactions 1-146
- Common transaction sizes & terms 1-147
- Defining the different trading periods: Multiple spot markets 1-149
- Common trading locations 1-150
- Defining Brokers, Traders, Power Marketers 1-152
- Enabling, Service, & Wheeling Agreements 1-157
- "Financially Firm", "Unit Firm" & other contract terms 1-159
- Anatomy of a bilateral transaction 1-166
- "Shrinkage" & line loss issues 1-169
- Scheduling and tagging a transaction 1-170
|
|
IV. The Basics of Forward Power Transactions
- Overview of forward power transactions 1-193
- Forward "hub" trading with "Sellers Choice" (detailed example) 1-205
- Physical flow versus scheduled flow versus contract path 1-205
- An electricity "Bookout" transaction 1-205
- Locational spread trading with physical electricity contracts 1-216
- Institutional Energy Brokers & "sleeving" 1-220
- Electronic energy exchanges 1-224
- Contracts for differences ("CFDs") 1-244
|
|
VI. Heat Rates, Spark Spreads & Tolling Arrangements
- Heat rates and their impact on cross-commodity economics 1-294
- Converting gas, oil & coal $/MMBtu prices to $/MWh prices 1-296
- The difference between operating & economic heat rates 1-297
- Converting $ per ton coal prices to $ per MMBtu 1-298
- Converting gas, oil & coal MMBtu quantities to MWhs 1-299
- Defining the "Spark Spread" 1-282
- Tolling and reverse tolling arrangements 1-300
- Selling gas by wire 1-307
|
|
APPENDIX #1
- List of Electric Power Industry Websites 2
- Glossary of Electricity Terms 3
- Sample Electricity Pricing Broker Sheets 10
- Sample Enabling Agreement: Purchase of Power 14
- Sample Enabling Agreement: Firm Transmission Service 24
- Sample Enabling Agreement: Non-Firm Transmission Service 28
|
|
APPENDIX #2
|
