Online Courses

Intermediate Applications of Energy Statistics

1/2 day on-demand seminar with Live Q&A
Available October 30th (96 hour access)

How this online course works

Operational decisions, capital investment, risk management, strategic positioning, litigation, and marketing are some of the many areas that require accurate information and analysis founded on sound statistical principles. Building on the introductory statistical concepts, this course is designed to provide a solid understanding of key statistical and analytic tools used in the energy and electric power markets by examining several applications of statistical analysis. Be armed with the tools and methods needed to properly analyze and measure data to reduce risk and increase earnings for your organization. This online training program is an intermediate level training program covering several applications and prepares the participant for the application specific advanced training programs offered in this series.

This proven online training program features the same material used in the popular PGS in-person classroom seminar. Register today and join the over 10,000 industry professionals who trust PGS for their energy training needs.

What You Will Learn

  1. Using real option analysis, the Black-Scholes option pricing model and binomial trees for valuing commodity dependent assets, and GARCH models to measure energy price risk.
  2. How to minimize price risk through operational design Flexibility; measure forward price volatility and adapt Value-at-Risk concepts (VaR) for the Energy Industry.
  3. How Monte Carlo simulation is used to value Demand Response programs; benchmarking techniques used for estimating the incremental cost savings of expanding existing operations; and the real-option value of generation assets.

Seminar Agenda

  • Statistical Reports that everyone can understand
  • Using charts to create information from data
  • Benchmarking to Industry Standards
  • Application: Comparing O&M Expenditure to that of Peer Facilities
  • Application: Estimating the "Economies of Scale" (marginal cost reduction) Associated with Multiple Unit Generation Facilities
  • Measuring Forward Volatility in Commodity Markets
  • Adapting Value-at-Risk (VaR) and Hedging Commodity Price Risk for the Energy Industry
  • Application: Calculating Value-at-Risk (VaR)
  • Application: Optimal Hedging using Statistical Triggers
  • Application: Minimizing Price Risk through Operational Design Flexibility
  • Introduction to Real Options Analysis
  • Details of Option Model Implementation
  • Estimating Volatility and Uncertainty in Historical Prices
  • Building pricing models
  • Geometric Brownian Motion
  • Mean Reversion Jump Diffusion
  • Black-Scholes, Binomial Trees, and GARCH Models
  • Building the Engineering Valuation (Option) model
  • Applications in Real Option Valuation
  • Application: Valuing The Option of Real-Time Forward Load Reduction
  • Application: Valuing Combustion Turbines as a Real Options
  • Application: Valuing the Injection and Withdraw Opportunities of Gas Storage

Who Should Attend

The training program is designed for those who desire a fundamental understanding of this vital topic including utility employees, commission staff, energy service professionals, and others. The training program is designed to provide a solid understanding of the principles and terminology of EE and DR programs, and provide an introduction to the advanced analysis techniques and models that are used by program planners and evaluators. The training program is not overly analytical, but rather summarizes these important techniques used by DSM professionals.

Prerequisites and Advance Preparation

This online training program assumes a fundamental knowledge of statistics.


Why Choose PGS?

PGS training programs are known for their clear explanations and in-depth content. Register today, and join the over 10,000 industry professionals who trust PGS with their energy training needs.


Ken Skinner, Ph.D.
Vice President Integral Analytics Inc.

Dr. Skinner is a Vice President for Integral Analytics Inc. (IA), an energy conservation focused analytical planning software and consulting firm. IA is fully owned by Willdan, an industry-leading energy solutions provider and sustainability consultant. Dr. Skinner supports core energy risk management and sustainability services including electric grid optimization, integrated resource planning, design and implementation of integrated demand side projects and distributed energy resources. He is part of a team specializing in energy engineering, renewable generation, electric vehicle fleets and infrastructure, program management, microgrids, financing, data analysis, software development, and other fields.

Dr. Skinner has over 20 years of energy industry experience developing energy conservation and commodity supply strategies involving portfolio risk management, hedging strategies, and least-cost supply opportunities. Having worked as an energy consultant, Dr. Skinner has significant experience in economic analysis and modeling of distributed energy projects, forward energy prices, financial derivatives, and valuation of energy assets using econometric analysis, statistical methods, optimization principles, real option valuation techniques. Dr. Skinner is widely published having served as the technology columnist for Wiley Natural Gas and Electricity Journal. He is a noted speaker on energy related topics for organizations such as AESP, IAEE, ACEEE, PLMA, IEPEC, INFORMS, Infocast, EUCI, SNL Energy and PGS Energy Training.

On-Demand Access Time

The on-demand training presentation is available for a total of 96 hours from the time the training program is first viewed. After 96 hours, your access to the online presentation will expire. However the PDF training program slides and other materials you receive are yours to keep.

Program Pricing

 1/2 day on-demand seminar with Live Q&A - Available September 11th. (96 hour access) 

$395 for the first attendee, $295 for the second attendee, and $245 for each attendee thereafter

Special pricing is available for groups of 10 or more. Please email or call (440) 853-1038.

Payment and Cancellations

Payment is required prior to training program access. Payment can be made by Visa, Master Card, American Express, or corporate check. Your credit card will be charged at the time of registration unless other arrangements have been made.

Cancellations for online training programs can be made before the program access instructions are sent by PGS, and cancellations will result in a credit. For more information on PGS policies regarding administrative matters and complaint resolution, please contact our offices at (440) 853-1038.
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