IN-PERSON CLASSROOM SEMINARS

• 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.

• 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.

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.

Scott has extensive experience and expertise in electric utility resource planning, power markets, economic analysis, stakeholder engagement and regulatory processes. He is an accomplished communicator, having testified before state utility commissions and legislative committees and presenting at industry conferences. Scott received a B.A. in Economics from Brigham Young University and went on to earn his MBA from Carnegie Mellon University with concentrations in finance and marketing.  Scott also completed the Executive Development Program at UNC-Chapel Hill and holds the Chartered Financial Analyst (CFA) designation.

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 or lunch and coffee breaks are included. Attendees also receive a professionally produced seminar manual that can serve as a valuable office reference. Dress is business casual for all seminars.

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.