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."
This comprehensive 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
- Correlation & 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.
- Use 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.
- Actual 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
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.Prerequisites and Advance Preparation
This fundamental level group live seminar has no prerequisites. No advance preparation is required before the seminar.Program Level & Delivery Method
Basic level. This fundamental course begins with basic material and then proceeds to the intermediate level. Delivery method is "Group-Live."
Your InstructorKenneth Skinner, Ph. D. -- Vice President Integral Analytics Inc.
Dr. Skinner is a Vice President for Integral Analytics Inc. (IA), an energy conservation focused analytical planning software and consulting firm. IA is fully owned by Willdan, an industry-leading energy solutions provider and sustainability consultant. Dr. Skinner supports core energy risk management and sustainability services including electric grid optimization, integrated resource planning, design and implementation of integrated demand side projects and distributed energy resources. He is part of a team specializing in energy engineering, renewable generation, electric vehicle fleets and infrastructure, program management, microgrids, financing, data analysis, software development, and other fields.
Dr. Skinner has over 20 years of energy industry experience developing energy conservation and commodity supply strategies involving portfolio risk management, hedging strategies, and least-cost supply opportunities. Having worked as an energy consultant, Dr. Skinner has significant experience in economic analysis and modeling of distributed energy projects, forward energy prices, financial derivatives, and valuation of energy assets using econometric analysis, statistical methods, optimization principles, real option valuation techniques. Dr. Skinner is widely published having served as the technology columnist for Wiley Natural Gas and Electricity Journal. He 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.
Please fill in your name and email to receive the Seminar Agenda of this event.
VenueHomewood Suites by Hilton Houston Near the Galleria
2950 Sage Rd, 77056
Houston, TX, USATelephone
: (713) 439-1305View Seminar Location WebsiteView Covid Website
The seminar will start promptly at 8:00 AM
and will finish at 4:00 PM
on the first and second day. On the third day, the seminar will resume at 8:00 AM
and will finish at 12:00 PM
. The program includes continental breakfast, lunch-first and second day only, and coffee breaks. On the third day a continental breakfast and a coffee break are provided.. Attendees also receive a professionally produced seminar manual that can serve as a valuable office reference. Dress is casual for all seminars.