Energy Training & Electric Power Classroom Seminars

Today's U.S. Electric Power Industry, Renewable Energy, ISO Markets and How Electric Power Transactions Are Done
This seminar is the electric power industry’s most comprehensive two-day training program
A Two-Day Classroom Seminar (CPE Approved)
Register soon to get Early Bird pricing!
Orlando, FL - February 27 & February 28, Springhill Suites
Grapevine (Dallas), TX - March 20 & 21, Homewood Suites-Dallas
New York, NY - April 17 & 18, NYC Torch Club (NYU Campus)
San Francisco, CA - May 1 & 2, Holiday Inn-Fisherman's Wharf
Washington D.C., - May 22 & 23, The Melrose Hotel
Houston, TX - June 5 & 6, Hotel Indigo Houston at the Galleria
New York, NY - June 19 & 20, NYC Torch Club (NYU Campus)
Hilton Head Island, SC - July 26 & 27, Country Club of Hilton Head
San Francisco, CA - August 21 & 22, Holiday Inn-Fisherman's Wharf

Learn “how it all fits together.” This in-depth two-day program provides a comprehensive and clear explanation of the structure, function, and current status of today's U. S. electric power industry; the fundamentals of ISO day-ahead auctions, LMP, FTRs, CRRs and capacity markets; the reliability and economic issues raised by the integration of solar, wind, distributed generation and demand response resources into the existing power grid; how physical and financial electricity transactions are done at the wholesale and end-user retail levels both within and outside of an ISO footprint; and the basics of heat rates, spark spreads, tolling deals and a heat-rate-linked power transactions. Each part of this complex industry will be explained piece-by-piece and then the pieces will be integrated using several clear cut examples so that attendees will leave with an understanding of how everything fits together.

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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, how it operates and what the different types of electric generation are.
  3. How control areas, balancing authorities, spinning reserves, AGC and security constrained environmental economic dispatch work.
  4. Who the key players in the industry are, and why the industry is so difficult to restructure.
  5. How cost-of-service utility ratemaking and open access deregulated markets work, and why open access retail electricity markets are finally developing in states that permit them.
  6. What ISOs, RTOs, ITCs and merchant transmission companies are, and how they operate.
  7. What the smart grid, demand side management (“DSM”), distributed energy resources (“DER”) and demand response (“DR”) are, and how these forms of “virtual generation” and renewable energy resources are disrupting the U.S. power industry.
  8. The opportunities and challenges associated with wind, solar and other renewables.
  9. How ISO Day-Ahead energy auction markets operate in PJM, New York, Texas, California, MISO and other ISO areas;
  10. What locational marginal pricing (LMP) is and why it is important; how Day-Ahead and Real Time LMP is applied in the ISO markets, and why FTRs, TCCs, CRRs, TCRs , virtual bids (“Incs & Decs”) and convergence bidding are important to understand.
  11. What capacity markets and resource adequacy are, and how this important issue relates to demand response, DER and demand side management and affects the integration of wind, solar and other renewables into the existing power grid.
  12. An overview of Utility scale solar, rooftop solar, and net metering, and wind and other renewable energy resources.
  13. What the Western Grid "Energy Imbalance Market" is, and why it is important to understand Community Choice Aggregators, the California "Duck Curve" and "FRAC-MOO."
You Will Also Learn
  1. The terminology, concepts and mechanics of physical, financial & heat rate power transactions.
  2. How to transport physical power using OASIS and NERC tags, and how and why companies often move physical power financially causing it to ‘jump’ between regions.
  3. The difference between physical, scheduled, and contract path power flows.
  4. What "sellers choice" is, and how transaction "daisy chains" form at virtual trading hubs.
  5. How and why physical power transactions are often “booked-out” and settled in cash, and why bilateral transactions in ISO markets are primarily financial.
  6. How to execute wholesale and retail power marketing transactions both within and outside of an ISO area- including commonly used contract language and NERC tags; how to manage LMP, basis, delivery, volumetric, intermittency and operational risks; and why NITS, TAC, UCAP, resource adequacy and ancillary service charges need to be included.
  7. How ICE & CME cash settled futures contacts, commodity swaps and FTRs/CRRs/TCCs can be used to hedge electricity price, basis and LMP spread risk.
  8. The difference between operating, economic, market and negotiated heat rates, and what the terms spark spread, dark spread and bark spread mean.
  9. What "tolling deals" are, and how the powerful technique of heat-rate-linked power transactions can be used.
  10. How a natural gas-fired generating plant is a call option on the spark spread, what "optionality" means, and a simple rule to use to optimize the economics of a natural gas or coal-fired merchant generating plant.
Seminar Agenda
  • DAY 1
  • 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.
  • How control areas & balancing authorities operate, what spinning reserves are, and how the lights are kept on.
  • The pros and cons of different sources of electric generation ( coal, natural gas, nuclear, renewables ), and how they work.
  • How cost-of-service ratemaking and retail open access markets work
  • Why open access retail electricity markets are finally developing in states that permit them.
  • Who the various industry participants are and their roles.
  • Why restructuring today's power markets is such a complicated task.
  • The difference between ISOs, RTOs, ITCs and merchant transmission companies.
  • Why it is so difficult to build new high voltage power lines.
  • How ISO Day-Ahead energy energy auction markets operate in PJM, New York, Texas, California, MISO and other ISO areas.
  • What locational marginal pricing (LMP) is, and why it is important.
  • How Day-Ahead and Real Time LMP applied and managed in the ISO markets.
  • Virtual bids (“Incs & Decs”) and convergence bidding and what their purpose is.
  • Financial transmission rights (“FTRs”), congestion revenue rights (“CRRs”), TCCs, TCRs and TRs.
  • Forward capacity markets, resource adequacy and generation reserve margins.
  • DAY 2
  • Wind, utility scale solar, rooftop solar, community solar, and the net metering debate.
  • The opportunities, challenges and risks associated with wind, solar and other renewables.
  • The smart grid, demand side management (“DSM”), distributed energy resources (“DER”) and demand response (“DR”), and why these assets are forms of “virtual” electric generation..
  • How wind, solar, DER, DSM, demand response and conservation are disrupting the U.S. power industry
  • The Western Grid "Energy Imbalance Market," The California "Duck Curve" and California’s “FRAC-MOO.”
  • The fundamentals of bilateral power transactions—units, concepts and terminology.
  • Common contract language used for bilateral power transactions.
  • Point-to-Point Firm, Network Firm, and Non-Firm transmission service, and how to buy transmission contracts on OASIS.
  • How to transport physical power using purchased transmission service and the purpose of NERC tags.
  • What "seller’s choice” and “buyer’s choice” are, and how forward "daisy chains" form at virtual trading hubs.
  • The difference between physical, scheduled and contract path power flows, and why power transactions have nothing to do with the flow of electrons.
  • How trading floors and futures exchanges help commercial players manage risk.
  • How and why physical power transactions are often “booked-out” and settled in cash.
  • How any why companies often move physical power financially causing it to ‘jump’ between regions.
  • An introduction to electricity cash settled futures, swaps, and CFDs, and how these products relate to ISO administered financial transmission rights (FTRs), congestion revenue rights (CRRs) and TCCs.
  • Detailed examples of how to execute wholesale and retail power marketing transactions both within and outside of an ISO area-- including commonly used contract language & NERC tags; how to manage price, LMP, basis, delivery, volumetric, intermittency and operational risks; and the importance of including NITS, TAC, UCAP, resource adequacy and ancillary service charges.
  • The difference between operating, economic, market and negotiated heat rates, and what the terms spark spread, dark spread and bark spread mean.
  • What "tolling deals" are, and how the powerful technique of heat-rate-linked power transactions can be used.
  • How a natural gas-fired generating plant is a call option on the spark spread, what "optionality" means, and a simple rule to use to optimize the economics of a natural gas or coal -fired merchant generating
Your Instructor - Orlando, Grapevine (Dallas), New York, San Francisco, Washington D.C., Houston, Hilton Head Island

John Adamiak
John Adamiak is President and Founder of PGS Energy Training and an expert in energy derivatives and electric power markets. 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 15 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 energy producers and marketers; utilities; banks & financial houses; industrial companies; accounting, consulting & law firms; municipal utilities; government regulators and electric generators.

Prerequisites and Advance Preparation

This fundamental level group live seminar has no prerequisites. No advance preparation is required before the seminar.

Program Level

Basic level. This fundamental course begins with basic material and then proceeds to the intermediate level.

Delivery Method

Group-live.

Why choose PGS?

PGS seminars are known for their clear explanations and in-depth content. Register for a PGS class today, and join the over 10,000 energy professionals who have already attended one of PGS's proven programs. View Past Seminar Attendees

Hotel and Seminar Information
This two-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 5:00 PM on the first day. On the second day, the seminar will resume at 8:00 AM and will finish at 3:00 PM. The program includes continental breakfast, lunch, and coffee breaks on the first day. On the second day a continental breakfast, snack and coffee breaks are included. Attendees also receive a professionally produced seminar manual that can serve as a valuable office reference. Dress is casual for all seminars.
February 27 & Feb 28
Springhill Suites
5828 Hazeltine National Dr.
Orlando, FL 32822
Telephone: 407-816-5533
Call 407-816-5533 and ask for PGS Energy Training discount to get the discounted rate of $159.00 plus Tax for a King room. The discount is good for the nights of 2/26/2018 thru 2/28/2018. The cutoff date to get these discounted rooms is 1/26/18. Rooms sell out so make your reservation early.
March 20 & 21
Homewood Suites-Dallas
2214 Grapevine Mills Circle West
Grapevine (Dallas), TX 76051
Telephone: (972) 691-2427
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 (440) 853-1038 and we can help you with your accommodations.
April 17 & 18
NYC Torch Club (NYU Campus)
18 Waverly Place
New York, NY 10003
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 (440) 853-1038 and we can help you with your accommodations.
May 1 & 2
Holiday Inn-Fisherman's Wharf
1300 Columbus Avenue
San Francisco, CA 94133
Telephone: 415-771-9000
There is a courtesy block for a limited number of rooms for $195 plus taxes for a King size or Double bed room. Please call 1-800-942-7348 and ask for the "PGS Energy Training (Code:PGS)" discount. The cut off date is March 30, 2018. Rooms sell out so make your reservations early.
May 22 & 23
The Melrose Hotel
2430 Pennsylvania Avenue, NW
Washington D.C.
Telephone: 202-955-6400
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 (440) 853-1038 and we can help you with your accommodations.
June 5 & 6
Hotel Indigo Houston at the Galleria
5160 Hidalgo Street
Houston, TX 77056
Telephone: (713) 621-8988
Call 713-621-8988 and ask for PGS Energy Training discount or the code "PGS" to get the discounted rate of $139.00 plus Tax for a Classic King room. The discount is good for the nights of 6/4/18 thru 6/7/17. Rooms sell out so make your reservation early.
June 19 & 20
NYC Torch Club (NYU Campus)
18 Waverly Place
New York, NY 10003
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 (440) 853-1038 and we can help you with your accommodations.
July 26 & 27
Country Club of Hilton Head
70 Skull Creek Drive
Hilton Head Island, SC 29926
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 (440) 853-1038 and we can help you with your accommodations.
August 21 & 22
Holiday Inn-Fisherman's Wharf
1300 Columbus Avenue
San Francisco, CA 94133
Telephone: 415-771-9000
There is a courtesy block for a limited number of rooms for $249 plus taxes for a King size or Double bed room. Please call 1-800-942-7348 and ask for the "PGS Energy Training (Code:PG8)" discount. The cut off date is July 20, 2018. Rooms sell out so make your reservations early.
Registration Fee and Discounts

Register Today!. The price for this comprehensive two-day seminar is $1,889 (USD).

Early Bird Special:
Seminar Date(s) Cutoff Date Additional Savings
Orlando - Feb 27 & Feb 28 Feb 7, 2018 $100 per order
Grapevine (Dallas) - Mar 20 & 21 Feb 28, 2018 $100 per order
New York - Apr 17 & 18 Mar 28, 2018 $100 per order
San Francisco - May 1 & 2 Apr 11, 2018 $100 per order
Washington D.C. - May 22 & 23 May 2, 2018 $100 per order
Houston - Jun 5 & 6 May 16, 2018 $100 per order
New York - Jun 19 & 20 May 30, 2018 $100 per order
Hilton Head Island - Jul 26 & 27 Jul 6, 2018 $100 per order
San Francisco - Aug 21 & 22 Aug 1, 2018 $100 per order
Register soon to get Early Bird pricing. A limited number of Early Bird seats are available.
  • Additional attendees and government employees receive a 10% discount.
  • Members of TOGA, AIPRO, INGAA or IOGA-NY receive a 15% discount. Please call (440) 853-1038.
  • 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 for the same seminar, 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 and will call you to obtain the credit cards and registration information for your other attendees in order to give them their 20% discount. If applicable the Early Bird discount of either $200 or $100 will be divided evenly between all participants.) Please call (440) 853-1038 for more information.
    Special pricing is available for groups of 5 or more. Please call Janice Ohmura at (440) 853-1038.
Payment and 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" 26 Teal Lane · Hilton Head Island, SC 29926. Cancellations can be made up to five (5) business days prior to the start of the seminar for a full refund. No refunds will be made thereafter, but a one year full seminar credit will be given toward future workshops upon receipt of $175 which will used to help offset the non-refundable food, beverage, manual and other expenses incurred by PGS. This one year seminar credit is good for any PGS Energy Training program except for seminars offered by PGS affiliate organizations. Colleague substitutions may be made at any time. If PGS needs to cancel a seminar due to instructor unavailability, lack of attendance or other unforeseen reason, you will be offered the choice of rescheduling for another seminar, a seminar credit, or a refund. For more information on PGS policies regarding administrative matters and complaint resolution, please contact our offices at (440) 853-1038.

CPE Credits in Specialized Knowledge & Applications

This live group seminar is eligible for 14.5 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 submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. CPAs interested in attending any seminars should contact our offices for details on CPE credits granted and any prerequisite requirements. PGS telephone seminars are eligible for CPE credits only if seminar participants use the printed seminar slides - not the Internet posted slides.

PGS Energy Training is registered with GARP as an Approved Provider of Continuing Professional Development (CPD) credits. PGS Energy Training has determined that attending Today's U.S. Electric Power Industry, Renewable Energy, ISO Markets and How Electric Power Transactions Are Done qualifies for 14.5 GARP CPD credit hours. If you are a Certified FRM or ERP, please record this activity in your Credit Tracker at http://www.garp.org/cpd.

The Global Association of Risk Professionals (GARP) is a not-for-profit membership association dedicated to preparing professionals and organizations for making better-informed risk decisions. GARP’s membership represents more than 150,000 risk management practitioners and researchers at academic institutions, banks, corporations, government agencies, and investment management firms in 195 countries and territories. GARP administers the Financial Risk Manager (FRM) and Energy Risk Professional (ERP) Exams – certifications recognized by risk professionals worldwide. Visit www.garp.org/cpe.

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