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Fundamentals of Today's Texas ERCOT Electric Power Market Seminar
Understand ERCOT & the New World of Texas Electric Power - A New Two-Day Classroom Seminar (CPE Approved)

6 December, 2018 - 7 December, 2018, Houston, TX, United States

Understand the basic workings of the dynamic Texas wholesale and retail markets and learn how the ERCOT ISO operates.

Understand, enhance and apply knowledge of how ERCOT's Day-Ahead, Real-time, Settlement activities, Retail operations and related costs and operations impact retail market operation, costs, billing and tariff conditions.

Benefit from a solid understanding of how the ERCOT market is organized, operates and is coordinated on a wholesale and retail level.

Understand and apply how wholesale industry operations are synchronized with retail markets, market settlements, and ERCOT's retail operations in the Nodal Market Structure.


What You Will Learn

  1. ERCOT Structures, Market Functions and Stakeholders
  2. Nodal System: LMPs, Congestion Management and CRRs
  3. Power Transactions at the Wholesale Level and How it Works
  4. Bilateral and Auction Markets - how they work
  5. Day-Ahead and Real-Time Markets: Energy, Ancillary Services and Capacity
  6. Settlement Processes and Who Gets Paid What
  7. Wholesale Pricing, Retail Market Functions, ERCOT structures for Retail Business
  8. Current and Future Issues


You Will Also Learn

  1. Highlights of the move from a "Zonal" to a "Nodal" Market Design.
  2. What changed after the move to a Nodal Market Design and major transactional differences.
  3. Wholesale Balancing and the importance of the QSEs' role.
  4. The workings and relationship of the Day-ahead and Real-time Markets.
  5. What the "Shadow Price" is, and why it is important and it's relationship to LMP.
  6. ERCOT's Zonal and Local Congestion Management procedures.
  7. The functions and importance of Congestion Revenue Rights.
  8. The key wholesale market Settlement activities under the Nodal Market.
  9. How ERCOT's retail market works and what's going on in this market.
  10. What Generation, Transmission and infrastructure issues ERCOT faces now and over the next ten years.


Who Should Attend this Seminar

Professionals from natural gas and electric utilities, pipelines, attorneys; government regulators, traders & trading support staff, energy producers and marketers, banks and hedge funds, government regulators, buyers and operators, accountants & auditors, industrial trade groups, shipping and cargo executives, equipment manufacturers and suppliers, environmentists, and anyone needing a solid overview and foundation in understanding how ERCOT works and current issues.

Prerequisites and Advance Preparation
This fundamental level group live seminar has no prerequisites. No advance preparation is required before the seminar.

Program Level
Basic level. This fundamental course begins with basic material and then proceeds to the intermediate level.

Delivery Method
Group-live.

Each Class is Limited to First 20 Registrants

Hotel and Seminar Information

This one-day seminar will be held at the hotels listed below or can be conducted on-site at your facilities. The seminar will start promptly at 8:00 AM and will finish at 4:00 PM. The program includes continental breakfast, lunch and coffee breaks. Attendees also receive a professionally produced seminar manual that can serve as a valuable office reference. Dress is casual for all seminars.

Homewood Suites by Hilton Houston Near the Galleria
2950 Sage Road
Houston, TX 77056
Telephone: (713) 439-1305
View Seminar Location Website

Because of the diversity of hotels found in the area, we will not be holding a block of sleeping rooms with one particular hotel.

Seminar Agenda

  • Who are the different types of players and their different roles.
  • Who the key wholesale and retail stakeholders and market participants are, and how their activities shape ERCOT's operations.
  • The importance of the QSEs' role and who can participate based on qualifications and objectives.
  • Highlights of the move from a ''Zonal'' to a ''Nodal'' Market Design.
  • What changed after the move to a Nodal Market Design and major transactional differences.
  • How Day-Ahead Auction markets work and the types of products.
  • The workings and relationship of the Day-ahead and Real-time Markets.
  • What the ''Shadow Price'' is, and why it is important and it's relationship to LMP.
  • How LMP is calculated and used for transaction pricing at nodes, zones and hubs.
  • ERCOT's Zonal and Local Congestion Management procedures.
  • The functions and importance of Congestion Revenue Rights.
  • The different types of ERCOT Ancillary, Balancing and Energy market services.
  • What DRUC, HRUC and related capacity markets mean and why these distinctions are important
  • The critical parts of the wholesale and retail markets
  • The key wholesale market Settlement activities under the Nodal Market.
  • How the ''Two Market Settlement'' process works.
  • Load Zone versus Hub Settlements and LMP calculation differences.
  • How ERCOT's retail market works and what's going on in this market.
  • What are the concerns and relationships between reserve margins real-time energy price market caps and reserve markets.
  • What Generation, Transmission and infrastructure issues ERCOT faces now and over the next ten years.

Your Instructor

Greg Peters
Greg Peters is President, EnVision Energy Solutions and the natural gas consultant to the Midwest ISO and author of several of the MISO’s electric – natural gas infrastructure interdependency studies. Mr. Peters has over 25 years of energy industry consulting and management experience and is an expert in energy products and services marketing and supply planning, procurement and energy management. Mr. Peters' consulting experience includes several years as Manager of Price Waterhouse's National Public Utilities Consulting Services and currently as President, Envision Energy Solutions Company. Envision provides gas, electric and fuel management consulting services to a wide range of industrial, commercial and municipal end-users. Previously, Mr. Peters has had fuel procurement, fuel management and planning responsibilities for Columbia Energy Services Corporation, Equitable Gas Company, and The Peoples Natural Gas Company.

Related Events

Event details

PGS Energy Training
6 December, 2018
7 December, 2018
Houston
Homewood Suites by Hilton Houston Near the Galleria
Texas
United States
Training Course
ASDE-18906

Contact us if you have any questions about this Training Course

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