Past event: Fundamentals of The Texas ERCOT Electric Power Market Seminar

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 and energy storage.

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

• ERCOT's market functions, market participants and players and how they interface and do business.
• The importance of the QSEs' central role in representing market participants before ERCOT,
• What makes the ERCOT market unique compared to all other ISOs and RTOs.
• Texas 2021 rolling brownout events, learnings from the event and steps taken by ERCOT for future.
• What changed after the move to a nodal market design and major transactional differences.
• What the "Shadow Price" is, and why it is important and its relationship to LMP.
• Nodal System: LMPs, congestion management and CRRs and settlement processes.
• The functions and importance of congestion revenue rights and why these financial instruments are used
• ERCOT's zonal and local congestion management operations and differences
• Day-Ahead and real-time markets for energy, ancillary services and capacity - RUC and HRUC.
• The workings and relationship of the day-ahead and real-time markets
• ERCOT's new ancillary services framework, changes in the products and their requirements, and their implications on the system reliability.
• ERCOT's roadmap for energy storage and undergoing work by the Battery Energy Storage task force.

What You Will Also Learn

• How Bilateral and Auction Markets interface and how they work independently and together.
• Wholesale pricing, retail market Functions and structures for retail business.
• The key wholesale market settlement operations under the nodal market.
• How ERCOT's retail market works and what's going on in this market.
• ERCOT's upcoming market changes and what will be the implications of the new energy mix with renewables and energy storage.
• ERCOT summer and winter system reliability issues
• The controversial relationships between reserve margins and real-time energy price market caps.
• What Generation, Transmission and infrastructure issues ERCOT faces now and over the next ten years.
• System wide offer caps
• ERCOT has targeted demand response deployments, renewable energy and DSM programs and those on the horizon.
• The interconnectivity issues in natural gas and power markets.
• How the different IT systems fit together and are used in the Wholesale and Retail Markets.
• What are the steps for planning and accomplishing resource interconnections with ERCOT
• ERCOT's current interconnection queue, recent developments in the renewables and storage projects.
• ERCOT's LTSA and the IRP model with the capacity mix forecasts and energy price forecasts.
• Geographical heat maps of energy storage potential across Texas

Who Should Attend

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 & Delivery Method
Basic level. This fundamental course begins with basic material and then proceeds to the intermediate level. Delivery method is "Group-Live."