U.S. Power Industry, ISO Markets, Electric Power Transactions, & Renewable Energy Resources Seminar (Brisbane, United States – July 30-31, 2019) – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “In
Depth: The U.S. Power Industry, ISO Markets, Electric Power
Transactions, & Renewable Energy Resources”
conference has
been added to ResearchAndMarkets.com’s offering.

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 rate-making, 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 rate-making 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
    renewables.
  • 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
    flows.
  • 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
    included.
  • 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
    mean.
  • 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.

Agenda:

Day 1

  • The properties and terminology of electricity – current, power, var,
    voltage, etc.
  • An overview of the electric service system, and how it works.
  • The structure and function of the North American power grid.
  • How control areas & balancing authorities operate, what spinning
    reserves are, and how the lights are kept on.
  • The pros and cons of different sources of electric generation ( coal,
    natural gas, nuclear, renewables), and how they work.
  • How cost-of-service rate-making and retail open access markets work
  • Why open access retail electricity markets are finally developing in
    states that permit them.
  • Who the various industry participants are and their roles.
  • Why restructuring today’s power markets is such a complicated task.
  • The difference between ISOs, RTOs, ITCs and merchant transmission
    companies.
  • Why it is so difficult to build new high voltage power lines.
  • How ISO Day-Ahead energy 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 applied and managed in the ISO markets.
  • Virtual bids (Incs & Decs) and convergence bidding and what their
    purpose is.
  • Financial transmission rights (FTRs), congestion revenue rights
    (CRRs), TCCs, TCRs and TRs.
  • Forward capacity markets, resource adequacy and generation reserve
    margins.

Day 2

  • Wind, utility scale solar, rooftop solar, community solar, and the net
    metering debate.
  • The opportunities, challenges and risks associated with wind, solar
    and other renewables.
  • The smart grid, demand side management (DSM), distributed energy
    resources (DER) and demand response (DR), and why these assets are
    forms of virtual electric generation..
  • How wind, solar, DER, DSM, demand response and conservation are
    disrupting the U.S. power industry
  • The Western Grid “Energy Imbalance Market,” The California “Duck
    Curve” and California’s FRAC-MOO.
  • The fundamentals of bilateral power transactions units, concepts and
    terminology.
  • Common contract language used for bilateral power transactions.
  • Point-to-Point Firm, Network Firm, and Non-Firm transmission service,
    and how to buy transmission contracts on OASIS.
  • How to transport physical power using purchased transmission service
    and the purpose of NERC tags.
  • What “seller’s choice and buyer’s choice are, and how forward “daisy
    chains” form at virtual trading hubs.
  • The difference between physical, scheduled and contract path power
    flows, and why power transactions have nothing to do with the flow of
    electrons.
  • How trading floors and futures exchanges help commercial players
    manage risk.
  • How and why physical power transactions are often booked-out and
    settled in cash.
  • How any why companies often move physical power financially causing it
    to jump’ between regions.
  • An introduction to electricity cash settled futures, swaps, and CFDs,
    and how these products relate to ISO administered financial
    transmission rights (FTRs), congestion revenue rights (CRRs) and TCCs.
  • Detailed examples of how to execute wholesale and retail power
    marketing transactions both within and outside of an ISO area –
    including commonly used contract language & NERC tags; how to manage
    price, LMP, basis, delivery, volumetric, intermittency and operational
    risks; and the importance of including NITS, TAC, UCAP, resource
    adequacy and ancillary service charges.
  • The difference between operating, economic, market and negotiated heat
    rates, and what the terms spark spread, dark spread and bark spread
    mean.
  • 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

For more information about this conference visit https://www.researchandmarkets.com/r/wi0wb6

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
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Related
Topics: Electricity
, Renewable
Energy

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