Recorded Seminars

On October 6th, the EPA proposed important changes to its Cross-State Air Pollution Rule (CSAPR),implementation of which begins just twelve weeks from now on January 1, 2012.

What it Means, State-by-State

If made final by the Agency, EPA's proposal will increase the number of SO2 allowances issued for Texas by more than 70,000 allowances per year nearly. Nearly a 30% increase for the state most adversely affected by the Rule. In addition, smaller increases will occur in SO2 and/or NOx allowances for generators in Louisiana, Wisconsin, Michigan, New York, New Jersey, Florida and Maryland.

Just as significantly, EPA proposes delaying implementation until 2014 of its "state assurance rule," which imposes additional statewide caps in SO2 and NOx, waiving the "3:1" penalty in 2012 and 2013.

EPA's proposal raises significant questions regarding how the impact of the CSAPR might change. Some see EPA's waiver of the state assurance rule as largely deferring the impact of the rule until 2014. Others contend that, outside of Texas, EPA's proposed revisions will have minimal effect. Further, even in Texas, achieving compliance could remain very difficult, potentially increasing allowance prices for generators in every Group 2 state.

Who Is Right?

How significant is EPA's proposed revision of the state assurance rule? Will EPA's rule still result in major increases in natural gas and electricity costs? Does EPA's action largely eliminate Texas' concerns, or is reliability there still at risk? How much will the price of Group 2 SO2 allowances be affected?

This timely web seminar will provide timely answers to these questions and more. Given the short time until the CSAPR becomes effective and its potential nation-wide impact on natural gas and electricity prices this is a "must attend" event for generators, retail service providers, end-use customers, and natural gas and coal producers in every region of the country. Click Here to Register

• Why did EPA act? Are further revisions likely?
• To what event will EPA's proposal defuse opposition to the Rule? Is it still possible that immediate implementation of the rule will be blocked?
• How significant is EPA's proposed delay in the effective date of the state assurance rule? Is delay in implementation of the state caps sufficient to create a liquid allowance market? For Group 1? Group 2? Or neither? Will interstate trading increase? Or is the impact of EPA's action largely cosmetic?
• How will SO2 allowances prices for Group 1 will be affected? Group 2? How will the NOx market change?
• How much will power sector consumption of natural gas be affected? Coal consumption?
• Will the impact on electricity and natural gas prices be significant? Or is the likely increase in prices about the same, particularly for the Group 1 states?
• Will the Air Transport Rule still have a nationwide impact on energy prices?
• How much does EPA's proposal change the picture in Texas? Will major reductions still be required? Can they be achieved? How?
• Which generators in Texas will be most affected? Will recently announced steps to reduce emissions be deferred?

Andy Weissman is a Partner in the Wall Street law firm of Carter, Ledyard & Milburn LLP and Editor-in-Chief of Energy Business Watch, one of the premier energy market advisory services in the country. He has more than three decades of experience providing strategic advice and counseling to major electric utilities, independent power producers, natural gas and coal producers, large energy users, hedge funds and other major financial institutions and retail and wholesale energy marketers. During the past decade, he repeatedly has been among the first to spot major price trends in the electricity, natural gas and coal markets. Earlier in his career, he helped to pioneer the use of emissions trading in the U.S., structuring nearly all of the early transactions under Title IV of the Clean Air Act Amendments of 1990, which established a "cap and trade" program for precursors of acid rain.

These seminar sessions will benefit those organizations and professionals interested in learning the relationship between coal, natural gas and electric power prices and the basics of power generation economics. Energy producers, utilities, banks, law firms, municipals, ISOs, power marketers, industrial companies, and electric generators will gain valuable insights, as will energy and electric power executives, traders, marketers, (sales, purchasing and risk management professionals), accountants, trading support staff, auditors, attorneys, government regulators, rate-making specialists, plant operators, engineers and corporate planners.

PGS seminars are known for their clear explanations and in-depth content. Register for a PGS program today, and join over 12,000 energy and financial professionals who have already attended one or more of PGS's proven courses. View Past Seminar Attendees

This seminar has no prerequisites. No advance preparation is required before the seminar.

Each session is $149 for the first attendee, $75 for the second attendee, and $45 for each attendee thereafter.

Flexible viewing options are available for groups of 10 or more.
Please call Janice Ohmura for details at (412) 521-4737.

Payment can be made by Visa, Master Card, American Express, Diners Club, check or wire transfer. 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 HHP · Hilton Head Island, SC 29926. Due to the nature of this pre-recorded product, no refunds are possible, but full credit for one year will be given toward another seminar. For more information on PGS policies regarding administrative matters and complaint resolution, please contact our offices at 412-521-4737.