Fundamentals of The Texas ERCOT Electric Power Market Seminar

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


Houston, TX, United States

This new in-depth two-day program provides a comprehensive and clear explanation of the structure, function, and current status of the Texas ERCOT ISO including its operations, the fundamentals of day-ahead and real-time energy auctions, LMP, CRRs, generation capacity markets (Resource Adequacy) and the new operational and economic issues raised by the integration of solar, wind, distributed generation ("DER"), demand response ("DR") and demand side management ("DSM") resources.

Gain an understanding of the dynamic Texas wholesale and retail competitive markets, and learn how these markets interface with ERCOT ISO energy auctions and ISO operations. Understand, enhance and apply knowledge of the ERCOT' nodal market operations for Energy, Ancillary Services, Market Settlements, Capacity, Retail and Renewables.

This seminar will also address the rapidly expanding new market opportunities in Texas Renewables - Wind, Solar, etc., Distributed Generation ("DER"), Demand Response and Demand Side Management ("DSM") as well as the new opportunities that will be emerging from the current re-design of ERCOT Ancillary Services, future Ancillary and Capacity market initiatives and the further unbundling of ERCOT services.

What You Will Learn

  1. ERCOT's market functions, market participants and players and how they interface and do business.
  2. The importance of the QSEs' central role in representing market participants before ERCOT,
  3. What makes the ERCOT market unique compared to all other ISOs and RTOs.
  4. What changed after the move to a nodal market design and major transactional differences.
  5. What the "Shadow Price" is, and why it is important and its relationship to LMP.
  6. Nodal System: LMPs, congestion management and CRRs and settlement processes.
  7. The functions and importance of congestion revenue rights and why these financial instruments are used
  8. ERCOT's zonal and local congestion management operations and differences
  9. Day-Ahead and real-time markets for energy, ancillary services and capacity - RUC and HRUC.
  10. The workings and relationship of the day-ahead and real-time markets

You Will Also Learn

  1. How Bilateral and Auction Markets interface and how they work independently and together.
  2. Wholesale pricing, retail market Functions and structures for retail business.
  3. The key wholesale market settlement operations under the nodal market.
  4. How ERCOT's retail market works and what's going on in this market.
  5. The controversial relationships between reserve margins and real-time energy price market caps.
  6. What Generation, Transmission and infrastructure issues ERCOT faces now and over the next ten years.
  7. ERCOT has targeted demand response deployments, renewable energy and DSM programs and those on the horizon.
  8. The interconnectivity issues in natural gas and power markets.
  9. How the different IT systems fit together and are used in the Wholesale and Retail Markets.
  10. What are the steps for planning and accomplishing resource interconnections with ERCOT

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

Your Instructor

Dr. Randell Johnson
Dr. Randell Johnson is CEO of Acelerex and has 25 years of experience in power markets, asset valuation, technology integration, strategy, regulatory finance, large scale grid optimizations, quantitative trading, public policy, technical grid design, real-time optimizations, and high-performance computing. Qualifications are a Doctor of Philosophy in Power Engineering from Rensselaer Polytechnic Institute, a Master of Science in Mathematical Trading and Finance from Cass Business School, UK, and a Utility Corporate Finance Certificate for Gas and Electric Utilities from UConn Business School. Currently Dr. Johnson is the CEO of Acelerex which has offices in Boston, Houston, Santiago Chile, and Istanbul Turkey and Acelerex provides independent consulting services and makes real-time and analytics SaaS software. Dr. Johnson has contributed to the EIPC transmission study as an investor owned utility representative, NARUC study on co-optimization of transmission and other resources, Massachusetts State of Charge Study, NYSERDA Energy Storage Road Map, is the author of "An Era of Many Options" feature article in IEEE Power and Energy Magazine, and has engaged in professional services internationally to at least 40 countries for energy, power, and metals and has contributed to the development of $35 billion dollars of assets globally.

Please fill in your name and email to receive the Seminar Agenda of this event.

Venue

Hotel Indigo Houston at the Galleria
5160 Hidalgo St, 77056
Houston, TX, USA
Telephone: (713) 621-8988
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.

Hotel and Seminar Information

The seminar will start promptly at 8:00 AM and will finish at 4:00 PM on the first day. On Day 2 the seminar will begin at 8:00 AM and end at 12:00 PM. The program includes continental breakfast, lunch on the first day and coffee breaks. On the second day it includes a continental breakfast 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.