This course adds a third day to the popular Energy Statistical Analysis seminar
to allow the time needed for a more in-depth discussion and explanation
of many important topics. Additionally this three-day course is
designed as a hand-on workshop. Not only will you learn about practical
energy statistical techniques and tools, but you will practice building
statistical models in a workshop format.
Learn why companies
continue to be exposed to significant energy and electricity related
price risk, and how risk and value are properly quantified. Energy and
electricity companies worldwide depend on accurate information about the
risks and opportunities facing day to day decisions. Statistical
analysis is frequently misapplied and many companies find that "a little
bit of knowledge is a dangerous thing."
three-day program is designed to provide a solid understanding of key
statistical and analytic tools used in the energy and electric power
markets. Through a combination of lecture and hands-on exercises that
you will complete using your own laptop, participants will learn and
practice key energy applications of statistical modeling. Be armed with
the tools and methods needed to properly analyze and measure data to
reduce risk and increase earnings for your organization.
A laptop is required with any version of EXCEL.
What You Will Learn
& regression analysis; real option analysis; the Black-Scholes
option pricing model; binomial trees; GARCH Models; the measurement of
energy price risk; and how to use correlation and regression analysis
for maintaining a competitive edge.
- Workshop exercises will have
you building forecast models including time series and financial
engineering price models including Geometric Brownian Motion and Mean
Reversion Jump Diffusion.
- How to minimize price risk through
operational design flexibility; measure forward price volatility and
adapt Value-at-Risk concepts (VaR) for the Energy Industry.
- Workshop exercises will have you building VaR models, calculating volatility and simulating complex energy projects.
actual case studies to examine 1) how Monte Carlo simulation is used to
value renewable energy, demand response programs and energy storage
projects; 2) bench-marking techniques used for estimating the
incremental cost savings of expanding existing operations; and 3)
real-option value of generation assets and power purchase agreements.
workshop problems and case studies will look at statistical
applications and tools most frequently used in the energy industry.
- Learn the four manage statistical metrics.
Who Should Attend this Seminar
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.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
Each Class is Limited to First 20 Registrants
Your InstructorKenneth Skinner, PhD - VP and Chief Operating Officer, Integral Analytics
Skinner, Ph.D. is Vice President of Risk & Evaluation Products for
Integral Analytics, an analytical software and management consulting
firm focused on operational, planning, and market research solutions.
Dr. Skinner has over 20 years' experience in evaluation and risk
measurement, having worked as an energy consultant with PHB Hagler
Bailly and Financial Times (FT) Energy, and as the Derivative
Structuring Manager for the retail energy supplier Sempra Energy
Solutions. He has his Ph.D. from Colorado School of Mines, in Mineral
Economics, with an emphasis in Operations Research, an MBA from Regis
University and his BS in Engineering from Letourneau University.
Skinner is a nationally recognized expert in economic evaluation and
modeling of energy assets including energy storage, distribution and
generation, efficiency and demand response, renewable energy
alternatives, financial derivatives and structured contracts using net
present value, econometric and statistical methods, optimization
principles, and real option valuation techniques. Dr. Skinner is
currently the technology columnist for Wiley Natural Gas and Electricity
Journal and is a noted speaker on energy related topics for
organizations such as AESP, IAEE, ACEEE, PLMA, IEPEC, INFORMS, Infocast,
EUCI, SNL Energy and PGS Energy Training.
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Because of the diversity of hotels found in the area, we will not be holding a block of sleeping rooms with one particular hotel.