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A service for energy industry professionals · Thursday, March 30, 2023 · 625,231,655 Articles · 3+ Million Readers

Today's U.S. Electric Power Industry, Renewable Energy, ISO Markets, and Power Transactions (Houston, United States - April 18-19, 2023)

Dublin, Jan. 31, 2023 (GLOBE NEWSWIRE) -- The "Today's U.S. Electric Power Industry, Renewable Energy, ISO Markets, and Power Transactions" training has been added to's offering.

If you want to truly understandthe U.S. electric power industry, this course is for you.

This in-depth program provides a comprehensive and clear explanation of the structure, function, and current status of today's U. S. electric power industry; the many industry topics listed below; and how PPAs and other power transactions are done.

Each part of this complex industry will be explained piece-by-piece, and then the pieces will be integrated so that you will leave the seminar 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 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 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, or will 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 ISO.)
  • The structure and characteristics of the bilateral spot and forward wholesale power markets.
  • The terminology, concepts and mechanics of bulk power trading, and the difference between physical, scheduled and contract path power flows.
  • Why open access retail electricity markets may finally now develop.
  • The basics of executing a wholesale power transaction - including common contract language and what NERC tags are.
  • What "sellers choice is", and how forward "daisy chains" form at virtual trading hubs.
  • How to financially trade physical power with financial bookouts.
  • An overview of the three different types of forward electricity markets: physical, over-the-counter financial and NYMEX futures.
  • The basics of the NYMEX electricity futures contract, and how it can be used to hedge electricity price risk
  • An introduction to electricity swaps and Cfds and how these relate to ISO financial transmission rights.
  • The definition of heat rates, spark spreads, dark spreads and heat-rate-linked power transactions.

Who Should Attend:

Among those who will benefit from this seminar include energy and electric power executives; attorneys; government regulators; traders & trading support staff; marketing, sales, purchasing & risk management personnel; accountants & auditors; plant operators; engineers; and corporate planners. Types of companies that typically attend this program include energy producers and marketers; utilities; banks & financial houses; industrial companies; accounting, consulting & law firms; municipal utilities; government regulators and electric generators.

Key Topics Covered:

  • The properties and terminology of electricity - current, power, var, voltage, etc
  • An overview of the electric service system, and how it works
  • The pros and cons of different sources of electric generation ( coal, natural gas, nuclear, renewables ), and how they work.
  • The structure and function of the North American power grid.
  • Who the various industry participants are and their roles.
  • Why restructuring today's power markets is such a complicated task.
  • How control areas function, what spinning reserves are, and how the lights are kept on.
  • A summary of FERC Orders 888, 889, & 2000
  • The difference between ISOs, ITCs, Transcos and RTOs.
  • What TLRs, ATC, OASIS, pancaking rates, shrinkage, economic dispatch and other terms mean.
  • What locational Marginal Pricing (LMP) is and why it's used
  • What the "smart grid" is, a summary of the different business models being tested, a discussion of the key issues and and how the smart grid is likely to develop.
  • The major issues facing wind energy, solar and other renwables and how these generation sources relate to the proposed buildout of the backbone power grid.
  • The difference between auction and bilateral bulk power markets and the pros & cons of each
  • The fundamentals of the PJM, MISO, ERCOT or California wholesale market (Depending on seminar location) and the role of LMP
  • How the PJM/MISO/ERCOT/California two-settlement energy and Day-Ahead markets operate, or will operate.
  • The meaning of the terms "RPM" and "Forward Capacity Markets " and why this issue is important.
  • A summary of the key issues of today and where the U. S. electric power industry is headed, including a discussion of the smart grid, renewable energy and the building of new transmission lines..
  • The pros & cons of PJM's RPM generation capacity planning proposal versus MISO's energy-only market-based approach.
  • What PJM FTRs are; their equivalent names in other ISOs, and how and why these financial instruments are used.
  • An overview of the similarities and differences between the PJM, New York, New England, MISO, ERCOT and/or California markets. (Depending on seminar location)
  • The fundamentals of bilateral bulk power trading units and terminology.
  • The three different types of wholesale forward power markets.
  • Common contract language used for bilateral power transactions.
  • What OASIS & NERC tags are.
  • How power marketers and traders use "sellers choice" to buy and sell forward power at "virtual hubs" across North America.


John Adamiak
PGS Energy Training

John Adamiak is President and Founder of PGS Energy Training and an expert in energy derivatives and electric power markets. Mr. Adamiak is a well-known and highly effective seminar presenter who has over 20 years experience in the natural gas and electric power industries. His background includes 15 years as a seminar instructor, 9 years of energy transaction experience, and 6 years of strategic planning and venture capital activities. John's academic background includes an M.B.A. degree from Carnegie Mellon University.

For more information about this training visit

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