Introduction to Energy/Electricity Commodity Markets

1. The structure, function and terminology of spot, cash, and forward natural gas, oil, and electricity commodity markets, and what energy derivatives are.
2. The three different types of forward energy markets (futures, financial over-the-counter & physical) and how these markets relate to each other including the differences between physical and financial natural gas and power.
3. An overview of the large and private ICE OTC over-the-counter electronic energy market and the importance of liquidity. 
4. How forward financial markets reduce risk and add value for energy consumers, producers and electric generators.
5. An overview of the large and private ICE OTC over-the-counter electronic trading platform, the importance of liquidity, and what "clearing a trade" means with the CME Clearinghouse and ICE CLEAR.
6. The difference between brokers, FCMs, traders, dealers, market-makers, marketers, power marketers, and wholesale energy merchants, and how they make their money.
7. The meaning of "bid/offer spread" and other transaction terminology.
8. The difference between price and "basis" risk.
9. Why the hedging needs of energy producers and end-use consumers are different from those of energy marketers, oil refiners and gas/coal fired electric generators.
10. The difference between price and spread hedgers.
11. What liquidity risk is, and why it is a critical issue for energy markets and traders.
12. The structure, function and terminology of spot, cash & forward natural gas, oil and electricity markets, and what energy derivatives are.

1. The difference between physical and cash settled energy futures contracts and why the same financial instrument can have ten different names.
2. Why the futures market is a game of virtual promises, how futures trading adds value to the industry, why trading is a zero sum game, and why futures trades do not directly affect delivered physical volumes.
3. A summary of energy futures contracts and how the CME-NYMEX and ICE Futures Exchanges operate.
4. How the "ICE" and CME-Globex trading platforms work, and how trades are cleared through the CME Clearinghouse and ICECLEAR.
5. How cash margining and your futures brokerage account works, and how cash management/funding risk can blow up even prudent hedges.
6. What energy and electricity commodity swaps/cfds are, and how these instruments are similar to financial futures contracts.
7. An overview of the large and private ICE OTC over-the-counter electronic energy market, the importance of liquidity, how the "ICE" and CME-Globex trading platforms work, and how trades are cleared through the CME Clearinghouse and ICECLEAR.

Get the best of both worlds with this blended learning approach.

1. Learn at your own pace and on your own schedule as you first enjoy the internet-streamed, on-demand seminar. Speed up, slow down, or repeat sections of the presentation.
2. Upon completion, join us for one of our regularly scheduled live online Q&A sessions. A calendar of live Q&A dates and times is provided in the program access instructions you will receive. You can also email your questions directly to the instructor.

You will receive immediate online access to the on-demand training presentation. The audio for the online seminar is only available through your computer or other Internet connected device. You will also receive links in your access instructions to PDFs for all the presentation materials in case you want to print or keep a copy.

The on-demand training presentations are available for a total of 30 days from the time any one of the training presentations is first accessed. After 30 days, your access to the on-demand presentations will expire. However the PDF formatted training program slides and other documents you receive are yours to keep.

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.

$245 for a single attendee, $155 per attendee thereafter.

Special pricing is available for groups — learn more. Questions? Email customercare@pgsenergy.com or call (843) 212-4038.

Payment is required prior to training program access, by Visa, Mastercard, American Express, or corporate check. Your card is charged at the time of registration unless other arrangements are made.

Cancellations for online programs can be made before the access instructions are sent and will result in a credit. For more on PGS policies regarding administrative matters and complaint resolution, contact our offices at (843) 212-4038.