Evolving
wholesale power markets are challenging market participants to
develop responses using an innovative combination of traditional
power assets and new financial tools.
RTO/ISO rule changes and market driven pricing for power,
ancillary services and transmission are new concepts that give rise
to both opportunities and potential risks.
To compete effectively and achieve strategic corporate goals
those creating, managing or supporting power deals and/or power
assets will need a thorough understanding of how to marry the
changing physical energy markets with the new financial tools.
Personnel providing legal, accounting and administrative
support will also benefit.
The Program
The
course begins with a review of capacity issues and pool pricing
concepts in today’s market.
Understanding the consequences of combining different types
of energy is essential to control and exploit market opportunities.
Locational/zonal transmission concepts and transmission load
relief guidelines add new requirements for transmission price risk
control.
The course also introduces and applies a full range of risk
management concepts, including fixed transmission rights, contracts
for differences, power swaps, embedded physical options and
multi-energy financial structures through to innovative power deals
and power asset management.
The Practical
This
program’s emphasis on practical issues will enable participants to utilize
these new tools in physical power transactions, plant investment, merchant power
plant management, fuel supply management and power trading.
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At
the conclusion of this program participants will be able to:
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Understand
the issues facing power providers and merchant power
plants
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Evaluate the differences
between firm power, non-firm power and financially firm energy
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Review
the proposed power master agreement definitions
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Utilize
fixed transmission rights and contract for differences to manage
locational marginal–zonal pricing risks
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Understand
the evolving process of developing a power price curve and the use
of Spark Spreads to develop long term price curves
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Explain
how swaps, options and other financial tools aid in structuring
unique deals for both consumers and generators
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Apply
financial products to: improve risk management techniques; monetize
dispatch flexibility and enhance physical plant investments
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Explain
and apply mult-fuel techniques to power plants
and create innovative
multi-fuel deal structures
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