Introduction to Risk Management for Wholesale Electricity MarketsFebruary 21-22 2023 | Online Sponsored by EUCI |
Electricity markets differ from other commodity markets because AC electricity cannot be stored and must be produced and used instantaneously. Consequently, numerous factors play a role in keeping price volatility in wholesale electricity markets high:
As a result, trading and hedging becomes more important as part of risk management, making this market structure much more complex than traditional trading markets, requiring good background knowledge of uniqueness of electricity, how RTOs/ISOs offer energy market platforms for real-time and day-ahead markets, elements of trading, and tools for risk management for beginners. This course will give you the insight you need to better manage this risk by providing a comprehensive set of introductory information about basics of power systems, RTOs/ISOs, and electricity trading and hedging for professionals working at power, financial, and energy companies. Learning Outcomes
AgendaTUESDAY, FEBRUARY 21, 2023 9:00 a.m. – 4:30 p.m. Central Time IntroductionRegional Transmission Organizations (RTOs) and Independent System Operators (ISOs)
Regulatory Oversight
Overview of Power Systems
Wholesale Energy Markets
Front Office: Basics of Energy Trading and Hedging
Middle Office: Basics of Risk Oversight, Measurement, and Monitoring
WEDNESDAY, FEBRUARY 22, 2023 9:00 a.m. – 12:00 p.m. Central Time Review of Previous Day Topics; Opportunities for Questions and Discussion on Previous Day’s MaterialHedge Program Design
Overview of Enabling Technology
InstructorsRaj Rana, PE, MBA, CEM, PMP, Consultant At present, Mr. Rana provides consulting services in the electric utility industry in the areas of NERC compliance, energy markets, power system planning and operation, resources integrations, and project management. Previously, while serving as Director – RTO Policy and NERC Compliance at American Electrical Power, Mr. Rana was responsible for coordination of energy, transmission, market structure, finance, and governance-related RTO policy issues among the AEP business units, development of corporate positions/policies, and advocacy of such positions at regulatory agencies as well as at stakeholder forums in PJM, SPP, and ERCOT RTOs. He was also responsible for the development and coordination of strategic direction of AEP’s power system reliability compliance program among all business units as well as coordination and facilitation of compliance plans, policies, and procedures within the company to ensure timely and successful compliance of NERC and regional reliability standards. Mr. Rana also worked in AEP’s System Planning department in various positions. His experience at AEP includes planning and operation of the bulk transmission network, generation interconnections, tariff and regulatory/legislative issues, system integration, asset management, mergers and acquisitions, as well as planning and engineering studies for international transmission and generation projects. Mr. Rana holds a BSEE degree from M. S. University (India), an MSEE degree from West Virginia University, and an MBA degree from University of Dayton. Mr. Rana also completed the AEP Management Development Program at the Fisher Business College of The Ohio State University. He is a life-senior member of IEEE and holds Ohio State PE license. Mr. Rana is also a certified energy manager and a project management professional. Timothy Metts, Founder and Principal, Eos Risk Management LLC Tim has over 14 years of experience working in the energy, resources and commodity industry. His roles include delivering market and credit risk, internal audit, mergers and acquisitions, hedge accounting, enterprise risk management, and regulatory compliance services. He has also helped design, develop and implement two proprietary risk management systems and has followed an Agile software development approach for more than 10 years. Tim’s clients include oil and gas companies, global super majors, retail fuel providers, investor and municipal power and gas utilities, international energy companies, chemical companies, and consumer and industrial products companies. As a Senior Manager in Deloitte’s Commodity Trading and Risk Management practice from 2012 to 2020, he was responsible for building and leading Deloitte’s Commodity Risk Analytics practice while also delivering governance, policy and procedure, controls, and risk assessment services. In addition to being part of the CTRM practice, he also supported Deloitte’s Internal Audit, Assurance, M&A, and Strategic Risk practices. He has an Energy Risk Professional (ERP) certification from the Global Association of Risk Professionals which allows him to bring a comprehensive overview of the energy markets to his clients and engagements. Prior to joining Deloitte in 2012, he was a Senior Vice President in Pace Global Energy’s Executive Decisions and Risk Solutions practice, where he was responsible for the development and delivery of many of Pace Global’s senior executive targeted service offerings, including Governance, Strategic Planning, Risk Integrated Resource Planning (RIRP), Enterprise Risk Management (ERM), and Commodity Risk Management (CRM) services.
|