Two Day Conference: U.S. Power Industry, ISO Markets, Electric Power Transactions, & Renewable Energy Resources (Philadelphia, PA, United States – July 16-17, 2019) –

Depth: The U.S. Power Industry, ISO Markets, Electric Power
Transactions, & Renewable Energy Resources”
conference has
been added to’s offering.

Learn how it all fits together. This in-depth, ambitious and fast-paced
program provides a comprehensive and clear explanation of the structure,
function, and current status of today’s U. S. electric power industry
and the many industry topics listed below, but it also adds material to
address the fundamentals of power marketing and how competitive
physical, financial and heat rate power transactions are designed and
executed at the wholesale and end-user retail levels – both within and
outside of an ISO footprint. The basics of heat rates, spark spreads,
tolling deals, generation optionality, and heat-rate-linked power
transactions are also addressed.

Before addressing power marketing and transactions, this fast-paced
seminar provides a comprehensive and clear explanation of the structure,
function, and current status of today’s U. S. electric power industry;
who the industry players are, and why it is so difficult to develop new
projects and get things done; the fundamentals of ISO day-ahead
auctions, LMP, FTRs, CRRs, LSEs, SCs, QSEs and forward capacity markets;
the basics of utility cost-of-service ratemaking, competitive customer
choice retail markets, heat rates, electricity storage, solar, wind,
distributed energy resources (DER), demand response and demand side
management (DSM); and the reliability and economic Duck Curve type of
issues raised by the integration of renewable energy, DER, and
electricity storage resources into the existing power grid.

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

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, how it operates and
    what the different types of electric generation are.
  • How control areas, balancing authorities, spinning reserves, AGC and
    security constrained environmental economic dispatch work.
  • Who the key players in the industry are, and why the industry is so
    difficult to restructure.
  • How cost-of-service utility ratemaking and open access deregulated
    markets work, and why open access retail electricity markets are
    finally developing in states that permit them.
  • What ISOs, RTOs, ITCs and merchant transmission companies are, and how
    they operate.
  • What the smart grid, demand side management (DSM), distributed energy
    resources (DER) and demand response (DR) are, and how these forms of
    virtual generation and renewable energy resources are disrupting the
    U.S. power industry.
  • The opportunities and challenges associated with wind, solar and other
  • How ISO Day-Ahead energy auction markets operate in PJM, New York,
    Texas, California, MISO and other ISO areas;
  • What locational marginal pricing (LMP) is and why it is important; how
    Day-Ahead and Real Time LMP is applied in the ISO markets, and why
    FTRs, TCCs, CRRs, TCRs , virtual bids (Incs & Decs) and convergence
    bidding are important to understand.
  • What capacity markets and resource adequacy are, and how this
    important issue relates to demand response, DER and demand side
    management and affects the integration of wind, solar and other
    renewables into the existing power grid.
  • An overview of Utility scale solar, rooftop solar, and net metering,
    and wind and other renewable energy resources.
  • What the Western Grid “Energy Imbalance Market” is, and why it is
    important to understand Community Choice Aggregators, the California
    “Duck Curve” and “FRAC-MOO.”

You Will Also Learn

  • The terminology, concepts and mechanics of physical, financial & heat
    rate power transactions.
  • How to transport physical power using OASIS and NERC tags, and how and
    why companies often move physical power financially causing it to
    jump’ between regions.
  • The difference between physical, scheduled, and contract path power
  • What “sellers choice” is, and how transaction “daisy chains” form at
    virtual trading hubs.
  • How and why physical power transactions are often booked-out and
    settled in cash, and why bilateral transactions in ISO markets are
    primarily financial.
  • How to execute wholesale and retail power marketing transactions both
    within and outside of an ISO area- including commonly used contract
    language and NERC tags; how to manage LMP, basis, delivery,
    volumetric, intermittency and operational risks; and why NITS, TAC,
    UCAP, resource adequacy and ancillary service charges need to be
  • How ICE & CME cash settled futures contacts, commodity swaps and
    FTRs/CRRs/TCCs can be used to hedge electricity price, basis and LMP
    spread risk.
  • The difference between operating, economic, market and negotiated heat
    rates, and what the terms spark spread, dark spread and bark spread
  • What “tolling deals” are, and how the powerful technique of
    heat-rate-linked power transactions can be used.
  • 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 natural gas or coal-fired merchant generating plant.

For more information about this conference visit

Laura Wood, Senior Press Manager
E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call
For GMT Office Hours Call +353-1-416-8900
Topics: Electricity
, Renewable

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