This in-depth two-day program provides a comprehensive and clearly explained understanding of the structure, function and current status of today's U. S. electric power industry. The seminar also addresses the fundamentals of the smart grid, renewable power sources, ISO day-ahead auction markets, LMP, FTRs and the basics of physical wholesale power transactions. 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; how the major sources of electric generation work ( coal, natural gas, nuclear, renewables ) and the issues they face; 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 cost-of-service regulation, open access markets, ISOs, transcos, ITCs, RTOs, and ICTs.
5. What the "smart grid" is, a summary of the different business models being tested, a discussion of the key issues and and how the smart grid is likely to develop.
6. The major issues facing wind energy, solar and other renewables and how these generation sources relate to the proposed buildout of the backbone power grid.
7. 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 ISO markets, and why FTRs, TCCs, CRRs, TLRs, RPM and forward capacity markets are important concepts to understand. (The seminars presented at the Houston and California locations will discuss the Texas and California/Western Power markets respectively. Philadelphia, New York and Washington D.C. seminars will focus on PJM, MISO and the New York ISO.)
8. The structure and characteristics of the bilateral spot and forward wholesale power markets.
9. The terminology, concepts and mechanics of bulk power trading, and the difference between physical, scheduled and contract path power flows.
10. Why open access retail electricity markets may finally now develop.
11. The basics of executing a wholesale power transaction - including common contract language and what NERC tags are.
12. What "sellers choice is", and how forward "daisy chains" form at virtual trading hubs.
13. How to financially trade physical power with financial bookouts.
14. An overview of the three different types of forward electricity markets: physical, over-the-counter financial and NYMEX futures.
15. The basics of the NYMEX electricity futures contract, and how it can be used to hedge electricity price risk
16. An introduction to electricity swaps and Cfds and how these relate to ISO financial transmission rights.
17. The definition of heat rates, spark spreads, dark spreads and heat-rate-linked power transactions..

Seminar Agenda

• 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 sources of electric generation ( coal, natural gas, nuclear, renewables ), 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.
• A summary of FERC Orders 888, 889, & 2000
• The difference between ISOs, ITCs, Transcos and RTOs.
• What TLRs, ATC, OASIS, pancaking rates, shrinkage, economic dispatch and other terms mean.
• What locational Marginal Pricing (LMP) is and why it's used
• What the "smart grid" is, a summary of the different business models being tested, a discussion of the key issues and and how the smart grid is likely to develop.
• The major issues facing wind energy, solar and other renwables and how these generation sources relate to the proposed buildout of the backbone power grid.
• The difference between auction and bilateral bulk power markets and the pros & cons of each
• The fundamentals of the PJM, MISO, ERCOT or California wholesale 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 this issue is important.
• A summary of the key issues of today and where the U. S. electric power industry is headed, including a discussion of the smart grid, renewable energy and the building of new transmission lines..
• 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)
• The fundamentals of bilateral bulk power trading units and terminology.
• The three different types of wholesale forward power markets.
• Common contract language used for bilateral power transactions.
• What OASIS & NERC tags are.
• How power marketers and traders use "sellers choice" to buy and sell forward power at "virtual hubs" across North America.
• The difference between physical, scheduled and contract path power flows.
• An overview of the three different types of forward electricity markets: physical, OTC financial and NYMEX futures.
• The basics of the NYMEX electricity futures contract, and how it can be used to hedge electricty price risk.
• The basic definitions of heat rates, spark spreads and dark spreads.

Your Instructor - Houston, Philadelphia, New York City, Washington DC

John Adamiak is President and Founder of PGS Energy Training and is an expert in electric power markets and energy derivatives. 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 14 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 10,000 energy and financial professionals who have already attended one or more of PGS's proven courses. View Past Seminar Attendees

Hotel & Seminar Information

This one and a half 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 Noon. The program includes continental breakfast, lunch on both days and coffee/cookie breaks. 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.

Courtyard Marriott Houston by the Galleria
2900 Sage Road
Houston, Texas 77056
Telephone 1-713-622-3611
View Hotel Website

PGS Energy Training has secured a limited number of Courtyard Marriott hotel rooms at a special discounted rate. Please dial 1-713-622-3611 and mention the PGS Energy Training event for your discounted rate. Please sign up early to receive your special room rate. This Courtyard Marriott frequently sells out.

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

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.

Grand Hyatt Seattle- Downtown
721 Pine Street,
Seattle, Washington, USA 98101
Tel: 1-206-774-1234   
View Venue Website

PGS Energy Training has secured a limited number of Grand Hyatt hotel rooms at a special discounted rate. Please dial 1-206-774-1234 and mention the PGS Energy Training event for your discounted rate. Please sign up early to receive your special room rate. This Grand Hyatt 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.