IN-PERSON CLASSROOM SEMINARS

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Today's U.S. Electric Power Industry, Renewable Energy, ISO Markets, and Power Transactions
Gain an in-depth understanding of a complex industry

A Two-Day Classroom Seminar (CPE Approved)

Register Soon to get Early Bird Pricing.
Houston, TX - April 3 & 4, Courtyard Marriott Houston by the Galleria
New York, NY - April 16 & 17, NYC Torch Club (NYU Campus)
Brisbane (San Francisco), CA - April 30 and May 1, Homewood Suites San Francisco Airport-North
Washington D.C., - May 14 & 15, The Melrose Hotel
Houston, TX - June 4 & 5, Courtyard Marriott Houston by the Galleria
Hilton Head Island, SC - June 18 & 19, Country Club of Hilton Head

If you want to better understand the U.S. electric power industry and learn the different ways power is bought and sold, this in-depth seminar is for you.

This program provides a comprehensive and clear explanation of the structure, function, and current status of today's U. S. electric power industry; the many industry topics listed below; the challenges and opportunities associated with developing new power lines, solar, wind, battery, and other renewable energy projects; how ISO day-ahead energy auctions, CRRs, and FTRs work, and detailed examples of how physical and financial (virtual) power transactions, power purchase agreements (PPAs), tolling, and heat rate deals are done. 

Each part of this complex industry will be explained piece-by-piece, and then the pieces will be integrated so that you will leave the seminar with an understanding of "how it all fits together."

What You Will Learn
  • The properties and terminology of electricity - current, power, var, voltage, etc (pre-seminar reading material)
  • The electric service system, and how it works
  • The structure and function of the North American power grids.
  • How control areas and balancing authorities function to "keep the lights on."
  • The pros, cons, and levelized costs of different types of electric generation
  • Fundamentals of utility cost-of-service regulation, open access markets
  • Why utilities sometimes resist renewable energy, distributed energy resource (DER"), rooftop solar, and conservation projects.
  • The various industry participants are and what their roles are.
  • Federal vs state regulatory conflicts, and why restructuring today's power industry and the building new power lines is such a complicated task.
  • The difference between regulated and merchant high voltage power lines, and what FERC market-based transmission rates are.
  • The structure and functions of ISOs, RTOs, the Western Energy Imbalance Market ("WEIM"), and the new Southeast Energy Exchange Market ("SEEM").
  • How ISO day-ahead energy auctions work, and how they add value to the power industry
  • What locational marginal pricing (LMP) is, and why LMP is used
  • What demand response ("DR"), distributed energy resources ("DER"), and battery energy storage systems ("BESS") are, and how these resources can be aggregated to form virtual power plants.
  • The challenges and opportunities facing wind energy, solar, batteries, demand response, and DER and other renewables.
  • Why understanding generation reserve margin, forward capacity markets, capacity payments, resource adequacy, and California's "FRACMOO" is important.
  • A summary of today's key industry issues and where the U. S. electric power industry is headed, including a discussion of the interconnection queues, renewable energy, and the building of new transmission lines.
What You Will Also Learn
  • The difference between auctions and bilateral bulk power markets
  • Introduction to bilateral energy and electricity markets: Important concepts and terminology
  • The difference between brokers, ICE OTC, futures exchanges, market-makers, traders, and power marketers, and how they add value.
  • Four different ways to manage price, price spread, and asset development risk. 
  • The fundamentals of bilateral physical power transactions and important deal-making terminology.
  • How power marketers and traders use "seller's choice" to create virtual trading hubs.
  • The standard industry contracts used for physical and financial power transactions, how to buy transmission service using OASIS, how to schedule delivery using NERC tags, and how financial "book-outs" work. Includes detailed step-by-step transaction examples.
  • Financial power contracts, commodity swaps, CFDs, FTRs. CRRs, and ISO Incs, Decs, and virtual/convergence bidding. Includes examples
  • How financial power contracts work in combination with ISO day-ahead energy auctions to create a win/win situation, and why few power marketers or traders ever go to physical delivery within and ISO footprint.
  • How power marketing is done within an ISO location, how power can be "transported" virtually, NITS, TAC, UCAP, and ancillary services charges, and how FTRs, CRRs, and swaps can help hedge basis risk. Includes detailed step-by-step transaction examples.
  • The different types of heat rates and spark spreads, and why they are important.
  • The difference between power purchase agreements ("PPAs") and "Tolling Deals."  Includes detailed Appendix and deal Term Sheet.
  • The magic of how heat rate transactions can be used to hedge electricity risk and structure profitable deals. Includes detailed step-by-step transaction examples.
Seminar Agenda

DAY ONE

  • The properties and terminology of electricity - current, power, var, voltage, etc (pre-seminar reading material)
  • The electric service system, and how it works
  • The structure and function of the North American power grids.
  • How control areas and balancing authorities function to "keep the lights on."
  • The pros, cons, and levelized costs of different types of electric generation
  • Fundamentals of utility cost-of-service regulation, open access markets
  • Why utilities sometimes resist renewable energy, distributed energy resource (DER"), rooftop solar, and conservation projects.
  • The various industry participants are and what their roles are.
  • Federal vs state regulatory conflicts, and why restructuring today's power industry and the building new power lines is such a complicated task.
  • The difference between regulated and merchant high voltage power lines, and what FERC market-based transmission rates are.
  • The structure and functions of ISOs, RTOs, the Western Energy Imbalance Market ("WEIM"), and the new Southeast Energy Exchange Market ("SEEM").
  • How ISO day-ahead energy auctions work, and how they add value to the power industry
  • What locational marginal pricing (LMP) is, and why LMP is used
  • What demand response ("DR"), distributed energy resources ("DER"), and battery energy storage systems ("BESS") are, and how these resources can be aggregated to form virtual power plants.
  • The challenges and opportunities facing wind energy, solar, batteries, demand response, and DER and other renewables.
  • Why understanding generation reserve margin, forward capacity markets, capacity payments, resource adequacy, and California's "FRACMOO" is important.
  • A summary of today's key industry issues and where the U. S. electric power industry is headed, including a discussion of the interconnection queues, renewable energy, and the building of new transmission lines.

DAY TWO

  • The difference between auctions and bilateral bulk power markets
  • Introduction to bilateral energy and electricity markets: Important concepts and terminology
  • The difference between brokers, ICE OTC, futures exchanges, market-makers, traders, and power marketers, and how they add value.
  • Four different ways to manage price, price spread, and asset development risk. 
  • The fundamentals of bilateral physical power transactions and important deal-making terminology.
  • How power marketers and traders use "seller's choice" to create virtual trading hubs.
  • The standard industry contracts used for physical and financial power transactions, how to buy transmission service using OASIS, how to schedule delivery using NERC tags, and how financial "book-outs" work. Includes detailed step-by-step transaction examples.
  • Financial power contracts, commodity swaps, CFDs, FTRs. CRRs, and ISO Incs, Decs, and virtual/convergence bidding. Includes examples
  • How financial power contracts work in combination with ISO day-ahead energy auctions to create a win/win situation, and why few power marketers or traders ever go to physical delivery within and ISO footprint.
  • How power marketing is done within an ISO location, how power can be "transported" virtually, NITS, TAC, UCAP, and ancillary services charges, and how FTRs, CRRs, and swaps can help hedge basis risk. Includes detailed step-by-step transaction examples.
  • The different types of heat rates and spark spreads, and why they are important.
  • The difference between power purchase agreements ("PPAs") and "Tolling Deals."  Includes detailed Appendix and deal Term Sheet.
  • The magic of how heat rate transactions can be used to hedge electricity risk and structure profitable deals. Includes detailed step-by-step transaction examples.
Your Instructor
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.
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 4:30 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.
COVID 19 Information: Please click here for the PGS Covid-19 policy. You can confirm each hotel's specific COVID 19 policy using the link(s) provided below.
April 3 & 4
Courtyard Marriott Houston by the Galleria
2900 Sage Road
Houston , TX 77056
April 16 & 17
NYC Torch Club (NYU Campus)
18 Waverly Place
New York , NY 10003
April 30 and May 1
Homewood Suites San Francisco Airport-North
2000 Shoreline Court
Brisbane (San Francisco) , CA 94005
May 14 & 15
The Melrose Hotel
2430 Pennsylvania Avenue, NW
Washington D.C. 20037
June 4 & 5
Courtyard Marriott Houston by the Galleria
2900 Sage Road
Houston , TX 77056
June 18 & 19
Country Club of Hilton Head
70 Skull Creek Drive
Hilton Head Island , SC 29926
Registration Fee and Discounts
The price for this comprehensive two-day seminar is $2,395 (USD).
Register online or Call (440) 853-1038.
Save $100 per seminar order if you register before the cutoff date.
Houston - April 3 & 4
Cutoff date for discount: March 14, 2024
New York - April 16 & 17
Cutoff date for discount: March 27, 2024
Brisbane (San Francisco) - April 30 and May 1
Cutoff date for discount: April 10, 2024
Washington D.C. - May 14 & 15
Cutoff date for discount: April 24, 2024
Houston - June 4 & 5
Cutoff date for discount: May 15, 2024
Hilton Head Island - June 18 & 19
Cutoff date for discount: May 29, 2024
  • Additional attendees and government employees receive a 10% discount.
  • Register 4 or more attendees and receive 20% Off. Special pricing is available for groups of 5 or more.
    If you want attendees to pay with separate credit cards or have other questions, please call (440) 853-1038 for assistance.
Payments and Cancellations
Payment is due prior to the start of the seminar by Visa, Master Card, American Express, 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 will result in a credit that is good for 2 years which can be transferred to a colleague. Substitutions may be made at any time. 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

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 Energy Training is registered with GARP as an Approved Provider of Continuing Professional Development (CPD) credits. If you are a Certified FRM or ERP, please record this activity in your Credit Tracker at http://www.garp.org/cpd. Please inform PGS Energy Training that you are a GARP CPE participant upon seminar registration.

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/cpd.
Who Should Attend

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.

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.

Program Level & Delivery Method
Basic level. This fundamental course begins with basic material and then proceeds to the intermediate level. Delivery method is "Group-Live.”