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Overview of the North American Electric Power Industry

Mennta Energy Solutions
Course summary
1 day
1,170 USD
English
Houston
Professional Training

Course description

Deregulation of the electricity marketplace continues to be a controversial topic. During this period of historic and rapid change, there is much to learn. Let this programme be your first step. This one-day event is a combination of presentation and trading simulations.

Includes Online Pre-study Module

This course is accompanied by a preparatory course available online. Delegates will receive a web voucher as part of their joining instructions upon confirmation of registration. By taking advantage of this "blended" learning approach, in-class time and learning are optimized.

Suitability - Who should attend?

Those just starting up or supporting a power trading desk will benefit immensely. We will cover what is of interest to electric utilities, power marketers, IPPs, financial institutions, brokers, and end-users. No previous trading experience is required!

Training Course Content

  • Electricity basics: electrons and wires
  • The fundamentals of electricity generation
  • What makes electricity different from all other traded commodities
  • Profiles of electricity market participants
  • Trading motivations of different physical electricity market participants
  • Financial/physical
  • Major North American markets and how they operate
  • Deregulation of the electric utility industry
  • Trading pools, ISOs, and RTOs
  • Transmission and ancillary services
  • Convergence of power and natural gas
  • Natural gas spark spreads and heat rate trading
  • Hedging and financially traded instruments

Some topics covered in this workshop are specific to either the American or Canadian market and will be adjusted as necessary.

Suitability

Those just starting up or supporting a power trading desk will benefit immensely. We will cover what is of interest to electric utilities, power marketers, IPPs, financial institutions, brokers, and end-users. No previous trading experience is required!

Content

Definitions

  • What is electricity?
    • Definition
    • How power differs from other commodities
    • Measurements
  • Load
    • Definition
    • Load shape & load profile
    • Load factor
  • Grid
  • Regulation / Deregulation
    • How and why the industry was regulated
    • Why and how deregulation developed
    • State of deregulation today

Marketplace

  • Electricity as a commodity
    • How it is delivered
    • Implications of the lack of storage
  • Qualities:  firm, interruptible, peak, off peak
  • Trading time blocks
    • Next hour
    • Next day
    • Weekly block
    • Balance of the month
    • Monthly block
    • Seasonal block
    • Calendar block
  • Unbundling Power
    • Heat rate
    • Implied heat rate
  • Short term price drivers:  weather, outages

Marketplace

  • Participants
    • Suppliers
      • Investor owned Utilities
      • Publicly owned Utilities and Nonprofits
      • Power Marketers
      • Independent Power Producers
      • Retail Providers
      • Schedulers
  • Consumers
    • Large end users
    • Small end users
    • Consumption statistics
      • Sales
      • Prices / costs

Generation

  • Basic concepts and terms
  • Thermal efficiency
  • Resources
    • Review of the cost stack
    • Overview of generation resources (water, wind, solar, and various fossil fuels)
    • Overview of various generation technologies (including technology and cost to operate and build):
      • Hydro
      • Nuclear
      • Coal
      • Natural Gas
        • Combined cycle
        • Simple cycle
      • Renewables
        • Wind
        • Solar

Transmission

  • Components of the transmission system
  • Control areas
  • Control area operators
  • Regional Transmission Organizations (RTOs)
  • Ancillary Services
  • Smart Grid

Market Structure

  • NERC regions
  • Bilateral vs. pool
  • Power pools – Independent System Operators (ISOs)
  • ISO unit commitment
  • Locational Marginal Pricing (LMP)
  • Valuing congestion
  • Congestion insurance (e.g., FTRs, CRRs)

Review of Regional Markets

  • Characteristics
    • Market structure
    • Transmission characteristics
    • Generation characteristics
    • Evolving resource mixes
    • Seasonal patterns
  • ISO-NE
  • NYISO
  • PJM
  • ERCOT
  • CAISO
  • SERC

Market Pricing and Risk Management

  • Indexes
  • Hedging
  • Power Swaps
  • Spark Spreads

Team-based Trading Simulations

  • Next-hour spot market trading
  • ISO bidding simulation

Some topics covered in this workshop are specific to either the American or Canadian market and will be adjusted as necessary.

About provider

Mennta Energy Solutions, formerly The Oxford Princeton Programme, addresses the knowledge gaps of energy professionals throughout the world with innovative and proven training techniques – instructor-led and online. The effectiveness of the training can be measured by the over 100,000...


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Mennta Energy Solutions

Oxford

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www.mennta.com


Reviews

J.N. Direct Energy
(5)
It is a very helpful course and it gives a good and broad overview of the energy market in general.
A.G. Morgan Stanley
(5)
I enjoyed learning more about transmission and ancillary being that this is something I deal with everyday. This course definitely expanded my knowledge.
S.K. Duvernay Oil Corp
(5)
Great Course!! Thank you. The course gave me a good knowledge base and encouraged me to learn more about power as a commodity.
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