Market Overview

Today's U.S. Electric Power Industry, Renewable Energy, ISO Markets, & Electric Power Transactions (Houston, United States - December 5-6, 2017) - Research and Markets


The "Today's
U.S. Electric Power Industry, Renewable Energy, ISO Markets, & Electric
Power Transactions"
conference has been added to Research
and Markets'

This in-depth two-day program (CPE approved) provides a comprehensive
and clear explanation of the structure, function, and current status of
today's U.S. electric power industry; the fundamentals of ISO day-ahead
auctions, LMP, FTRs and capacity markets.

The operational and economic issues raised by the integration of solar,
wind, distributed generation, and demand response power resources into
the existing Power Grid; how to market and trade physical and financial
electricity both within and outside an ISO footprint; and how
heat-rate-linked, spark spread, and tolling deals are structured within
and outside of Texas.

Each part of this complex industry will be explained in step-by-step
fashion and then all the pieces will be integrated using several clear
cut examples so that attendees will leave with an understanding of how
it all fits together.

The seminar also addresses the basics of the electricity futures
contracts which trade on the Intercontinental ("ICE") and Chicago
Mercantile ("CME") Exchanges.

What You Will Learn:

  • The structure and function of the electric service system, its
    terminology and units, and the properties of electricity.
  • How the North American power grid is structured and how it operates;
    how the major sources of electric generation work (coal, natural gas,
    nuclear, renewables) and the issues they face; how control areas,
    spinning reserves, AGC and economic dispatch works.
  • Who the key players in the industry are, and why the industry is so
    difficult to restructure.
  • The differences between cost-of-service regulation, open access
    markets, ISOs, transcos, ITCs, RTOs, and ICTs.
  • What the "smart grid" is, a summary of the different business models
    being tested, a discussion of the key issues and how the smart grid is
    likely to develop.
  • The major issues facing wind energy, solar and other renewables and
    how these generation sources relate to the proposed buildout of the
    backbone power grid.
  • How ISO Day-Ahead auction markets operate in PJM, New York, Texas,
    California and other markets; what locational marginal pricing (LMP)
    is, and why it is important; how LMP is applied in the ISO markets,
    and why FTRs, TCCs, CRRs, TLRs, RPM and forward capacity markets are
    important concepts to understand. (The seminars presented at the
    Houston and California locations will discuss the Texas and
    California/Western Power markets respectively. Philadelphia, New York
    and Washington D.C. seminars will focus on PJM, MISO and the New York
  • What capacity markets and resource adequacy are, and how these
    important issues affect the integration of wind, solar and other
    renewables and how all these issues relate to demand response and the
    Smart Grid. You will also learn what California's new "Energy
    Imbalance Market" and "Duck Curve" are and why these topics are

You Will Also Learn:

  • The structure and characteristics of the wholesale bilateral spot and
    forward physical and financial power markets.
  • The terminology, concepts and mechanics of power marketing & trading,
    and the difference between physical, scheduled and contract path power
  • Why open access retail electricity markets may finally now develop.
  • The details of how to structure and execute wholesale and retail power
    marketing transactions both within and outside of an ISO footprint -
    including common contract language, NERC tags, LMP basis risk, NITS &
    ancillary service charges, etc.
  • What "sellers choice is", and how forward "daisy chains" form at
    virtual trading hubs.
  • How to financially trade physical power with financial bookouts.
  • How power marketing wholesale and retail transactions are done within
    the ISOs, why wholesale bilateral transactions in theses markets are
    primarily financial, AND how each piece of end-user transactions is
    assembled and hedged step-by-step, including price, basis, delivery,
    NITs charges, UCAP charges, ancillary charges, etc.
  • An overview of the three different types of forward electricity
    markets: physical, over-the-counter financial and CME & ICE
    electricity futures contracts.
  • The basics of the ICE and CME electricity cash-settled futures
    contracts, and how these contracts can be used to hedge electricity
    price and LMP spread risk.
  • How the Dodd-Frank law implementation is impacting power markets.
  • An introduction to electricity swaps and Cfds and how these relate to
    ISO financial transmission rights (FTRs, CRRs and TCCs).
  • The difference between operating, economic, market and negotiated heat
    rates, and what spark spreads, dark spreads, are bark spreads are.
  • What "tolling deals" are, and how the powerful techniques of physical
    and financial heat-rate-linked power transactions work.
  • Spread trading, trading around assets, how to make electricity
    financially "jump" between regions, and other basic power trading
  • How a natural gas-fired generating plant is a call option on the spark
    spread, what "optionality" means, and a simple rule to use to optimize
    the economics of a merchant generating plant.

For more information about this conference visit

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