| Historic changes in the U.S. electric power industry continue to create both significant opportunities and major risks for a wide variety of industry players. Get the knowledge you need to be one of the winners. This one-day program is for those professionals looking for a comprehensive and clearly explained understanding of the structure and function of the U. S. electric power industry; the current status of U.S. open access markets; the fundamentals of how the PJM market operates; and the essentials of bulk power trading. You will learn: - How the North American power grid is structured and how it operates; who the key players in the industry are and key industry website addresses; and how control areas, spinning reserves, economic dispatch and load following units operate.
- What the highlights and implications of FERC's standard market design proposals are; the differences between ISOs, transcos, ITCs, RTOs, and ITPs; and what the current RTO status is by region.
- How the PJM two-settlement market operates; what locational marginal pricing (LMP) is; how LMP is applied in the PJM market; and what FTRs, CRRs and TLRs are.
You will also learn: - The structure and characteristices of the spot and forward bulk power markets.
- The terminology, concepts and mechanics of bulk power trading, and the difference between physical, scheduled and contract path power flows.
- How to execute a spot power transaction - including common contract language, how to obtain transmission capacity, scheduling and NERC tagging requirements.
- What sellers choice is; how forward transaction "daisy chains" form at virtual trading hubs; what a financial bookout is; and how bulk power can be financially traded.
Seminar Outline: Morning - The properties and terminology of electricity - current, power, var, voltage, etc
- An overview of the electric service system, and how it works
- The structure and function of the North American power grid
- Who the various industry participants are and their roles
- Why open access power markets are so politically complicated
- 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, 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 central auction and bilateral bulk power markets and the pros & cons of each
- The PJM market and the role of LMP
- How the PJM two-settlement energy markets operate.
Afternoon - What PJM FTRs are and why they are used
- An overview of the similarities and differences between the PJM, New York and New England markets.
- Fundamentals of bilateral bulk power trading including trading units
- The structure of electricity spot and forward markets
- Commonly used agreement language
- How to secure transmission capacity of OASIS
- How to calculate shrinkage and line losses
- How to prepare a NERC tag
- Bilateral forward power markets and Sellers' choice
- The difference between physical, scheduled and contract path power flows
- How to financially trade power with financial bookouts
- Common forms of electricity options
- How institutional energy brokers and electronic exchanges operate
Who should attend this seminar?
Electric utilities, generators, municipals, marketers and industrial companies; 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. Prerequisites: This fundamental level group live seminar has no prerequisites. No advance preparation is required before the seminar. Why choose PGS?
Over 3,000 energy and electricity professionals have attended PGS Energy Training's proven and timely seminar programs. PGS' CPE approved live group seminars are known for their in-depth coverage and easy-to-understand presentation style.
Hotel & Other Seminar Information:
Seminars are held at the hotels listed below or can be conducted on-site at your facilities. This one-day seminar will start promptly at 8:00 AM and finish at 4:00 PM. All programs include continental breakfast, lunch, and coffee/cookie breaks for each day. Attendees will also receive a professionally produced seminar manual that serves as a valuable office reference. Dress is casual for all seminars.Sign up early to receive your special room rate.
| Philadelphia Doubletree Hotel
Broad Street at Locust (Downtown)
Philadelphia, PA 19107
Telephone 1-215-893-1600
http://www.doubletreephiladelphiahotel.com | | | | * | PGS Energy Training has secured a limited number of hotel rooms at a special discounted rate. Please dial 1-800-222-TREE or contact Maetal Zmora at 215-893-1684 maetal_zmora@hilton.com as soon as possible. |
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Your Instructor:
John Adamiak is President of PGS Energy Training and has over 20 years experience in the energy and electric power industries, including 9 years of trading and 6 years of teaching experience. He has structured numerous energy transactions and will use this knowledge to provide you with many real-world insights and perspectives. Before founding PGS in 1990, John spent 9 years at The Consolidated Natural Gas Company (CNG) where he traded natural gas and conducted strategic studies for the executive office.
Seminar Price & Discounts:
Register now to change your career for the better. The price for this one-day seminar is $795 (USD). - Additional seminar registrations or attendees receive a 10% discount. Government employees receive a 10% discount on their total order.
- Bring a group of 4 or more and all attendees will receive a total 20% discount on all seminars attended. ( If you are planning to assemble a group of 4 or more, subtract the 20% discount from your seminar fee and send in your registration now. Tell other members of your group to mention your name when they register, and we will give them 20% off as well! ) All prices are in U.S. dollars.
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| 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 to be paid by credit card will be charged to the card at the time of registration unless other arrangements have been made. Cancellations can be made up to three (3) business days prior to 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 regarding administrative policies such as complaints, please contact our offices at 412-279-9298. CPE Credits:
This group live seminar is eligible for 7CPE 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.
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