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Create your own Seminars-on-Demand training library for less money than sending two people to a public seminar. (See below for details)
This seminar is 3 hours in length. (Prerequisite: Seminar Programs D-1 & D-2 or equivalent experience.)
Lesson 6.1 "The Wholesale Energy Trading Equation" In this lesson, you will learn: 1) What the "premium for firm delivery" is, and how it effects physical commodity prices; 2) What the difference is
between financial and physical locational basis ("fin" & "phys"), and how this difference shows up in
dealer and OTC broker bid/offer quotes; 3) How the master energy trading equation is derived, and how it
mandates that all energy markets be in equilibrium with each other; 4) How the master energy trading equation impacts the pricing of transmission and storage capacity; 5) Why sophisticated energy traders
buy and sell components of the master energy trading equation instead of prices; 6) How the master energy trading equation serves as the foundation for a firm's energy trading book; and 7) How a basis
trade looks from the perspective of the master energy trading equation and energy trading book.
Lesson 6.2 "Fundamentals of Energy Trading Books" In this lesson, you will learn: 1) What the different types of accounting books are, and how they relate to energy trading books; 2) Why energy
trading books are necessary, and how they are used; 3) How to create and maintain the different components of energy trading books, and what the different book structures are; 4) What the difference
is between mark-to-market, accrual and profit & loss accounting; 5) What the difference is between recognized and forward book income; 6) How trading books connect the actions of traders with the
reporting, accounting and control functions of a company; 7) What the structure and function is of position and mark-to-market reports; 8) How to handle reconciliation issues and inter-book transactions,
and why these issues are important; 9) The role of blotters, trade recaps and value-at-risk (VaR); and 10) How asset related transactions such as storage and transportation deals are addressed by energy
trading books.
Lesson 6.3 "Fundamentals of Value-at-Risk" In this lesson, you will learn: 1) What value-at-risk, or
VaR, is; 2) Why value-at-risk is the risk measurement method of choice at most energy trading firms, and how value-at-risk is used; 3) How trading risks are separated into VaR risk buckets, and how to
prepare, calculate and use a cross-correlation table; 4) How to calculate the appropriate volatilities needed for VaR computation; 5) How to calculate value-at-risk using the "variance-covariance",
"historical simulation" and "Monte Carlo" methods, and What the advantages and disadvantages are for each of these three calculation methods; 6) The impact that volatility, correlation and shape of curve
assumptions have on VaR calculation; 7) How to calculate and use both correlated and uncorrelated VaR; and 8) The pitfalls and assumptions to be aware of when using value-at-risk.
Who Will Benefit:
Energy producers, utilities, electric generators, municipals, processors, marketers, industrials, and
commercials; energy and electric power executives; traders; marketing, sales, purchasing & risk management personnel; accountants; trading support staff; auditors; attorneys; government regulators;
plant operators; engineers and corporate planners.
Why Choose Seminars-on-Demand?
Why have employees travel to expensive off-site seminar locations and lose valuable time when they
can now learn anytime or anywhere? Create your own Seminars-on-Demand training library for less
money than sending two people attending a two-day public seminar. Click here for details.
Seminars-on-DemandSM features the same proven training content used in PGS Energy Training's
popular live seminars. The quality of these seminars is confirmed by the testimony of many satisfied
customers representing a virtual "Who's Who" of large energy and electric power companies. PGS' training programs are known for their in-depth coverage and the instructor's easy-to-understand
presentation style.
Endorsements:
"Seminars-on-Demand is a creative new approach to training that delivers accurate and comprehensive
instruction in energy and electricity risk management. It truly is a strategic weapon for today's competitive marketplace." Peter Fusaro -- President, Global Change Associates
"As both an experienced trader and VP of Trading Control for several large trading houses, I saw first
hand that lack of training was a ticking time bomb waiting to go off. Seminars-on-Demand is an excellent product that is long overdue." Soli Forouzan -- President, Mind Span, Inc
Pricing & Discounts:
Each Seminars-on-DemandSM seminar includes: An interactive 3 hour CD-ROM seminar presentation and a PDF seminar manual which matches the CD-ROM presentation screens.
No Viewing Limit -- Train 1 or 1,000
Choose the licensing option that is best for your organization.
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Annual License*
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Purchase**
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$495 per seminar |
$995 per seminar |
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Order 3 or more seminars and receive a 10% discount on all titles purchased or rented. Government
employees receive an additional 10% savings on their total order. All orders are subject to a shipping,
handling, & materials charge. (See the "Ordering & Other Information" section below.)
Note: If your organization requires 15 or more copies of a seminar, an enterprise license will provide all
the training you need for one low price.
 Click here for information on enterprise licenses.
*One month rentals and annual licenses allow for unlimited viewings of one copy of the CD-ROM
seminar presentation by multiple individuals. A PDF seminar manual is also provided for each seminar
ordered, and copyright permission is granted to produce 10 copies of this document. The licensing
period begins from date of first use. Once your license has expired, there is no need to return the CD. You can extend the length of your viewing period at any time by securing a new monthly rental, annual license or seminar purchase for a 20% discount. Unless you have purchased an enterprise license, you may not install the Seminars-on-DemandSM software on a network.
**Purchases allow for unlimited viewings of one copy of the CD-ROM seminar presentation by multiple
individuals without time limit. A PDF seminar manual is also provided for each seminar
ordered, and copyright permission is granted to produce 20 copies of this document. Unless you have purchased an enterprise license, you may not install the Seminars-on-DemandSM software on a
network.
Get the training your organization needs at a fraction of the cost of live classroom seminars.
Click here to see how Seminars-on-Demand can save your organization thousands of dollars versus
live classroom training.
Ordering & Other Information:
Payment: All prices are in US dollars. Payment is due prior to shipment and can be made by Visa,
Master Card, American Express, Diner's Club or corporate check. Credit card orders will be charged to
the card at the time of shipment. Please make checks payable to: "PGS Energy Training", 43 Fawnvue Drive, Suite 700, McKees Rocks, PA 15136.
Shipping, Handling & Materials Charge: Domestic U.S. orders will be shipped via Federal Express
Ground or other carrier and are subject to a $25 charge per seminar for shipping and handling. Overnight deliveries will be charged an additional $20 per order. Shipping, handling and material charges for non-U.S. orders are $45 per seminar. Most orders are shipped within 48 hours.
Please allow five business days for delivery.
Cancellations & Refunds: Orders canceled within 10 days of sale and before the software is
authorized receive a full refund, excluding the shipping, handling & materials charge. Due to the nature of training software, no refunds will be made thereafter but credit may be given toward other
Seminars-on-DemandSM seminars or live classroom training.
CD Authorization: The Seminars-on-DemandSM software installation process will provide you with a
Registration Number for each CD-ROM. To obtain the Authorization Code necessary to run the software, visit http://www.pgsenergy.com/sod/authorize.php or call PGS at 412-521-4737 weekdays
between 8:30 AM and 5:00 PM U.S. Eastern time. Once your monthly rental or annual license has expired, you will be prompted to enter a new Authorization Code or the software will no longer operate
. New Authorization Codes can be purchased by calling PGS at 412-521-4737 weekdays between 8:30 AM and 5:00 PM U.S. Eastern time.
Hardware Requirements: Seminars-on-DemandSM requires access to a working audio-capable
computer with the minimum system requirements specified below . The CD-ROM includes a detailed audio troubleshooting guide to assist you with getting your computer's audio working correctly.
- IBM compatible PC with a Pentium or compatible processor
- 16 MB RAM
- 40 MB available hard drive space
- CD-ROM drive (2X minimum)
- Sound Blaster-compatible audio card & speakers
- 640x480 video card and VGA monitor
- Windows 95, 98, NT, 2000, or XP operating system
Installation & Technical Support: Seminars-on-DemandSM is available as CD-based, desktop
installations or can be installed on your organization's Local Area Network (LAN) if an enterprise license
has been purchased. For installation questions and ongoing technical support, please send e-mail to:support@seminars-on-demand.com or call 1-866-739-6024.
Copyright & Duplication Restrictions: The training programs, software interfaces and technologies of
PGS Energy Training are protected by copyright law and international treaties. PGS Energy Training
retains all copyright and intellectual property rights for all printed, audio, and electronic seminar
materials. Viewing by unauthorized users, duplication, copying or reverse engineering of any portion of these materials is expressly prohibited. Installation of the software on a network or server is not permitted unless an enterprise license has been purchased. A copy of the PGS software agreement is available at http://www.pgsenergy.com/sod/softwareagreement.php
Limitation of Liability: This Software Program and the Software Application Materials are for
educational purposes only. The buying and selling of natural gas, crude oil, energy products, electric power and financial instruments are inherently complex and risky businesses whose nomenclature,
techniques and practices change over time. Due to these factors it is your responsibility to verify the accuracy and applicability of the information and techniques presented in any Seminars-on-DemandSM
seminar before executing transactions or entering into any business arrangement. In no event will PGS
Energy Training or any of its developers, agents, officers, dealers, or distributors be liable for indirect,
special, incidental, tort, economic, cover or consequential damages arising out of the use or inability to
use any of PGS Energy Training's Programs or services, including, without limitation, damages or costs
relating to the loss of profits, business, Goodwill, computer network problems or trading losses. In no
case shall the liability of PGS Energy Training or any of the above associated entities exceed the amount paid by you for the Program and other Software Application Materials out of which such claim
arose. A copy of the PGS software agreement is available at http://www.pgsenergy.com/sod/softwareagreement.php
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