Fundamentals of The Texas ERCOT Electric Power Market Seminar

The Fundamentals of The Texas ERCOT Electric Power Market Seminar is a comprehensive two-day classroom seminar designed to provide an in-depth understanding of the Texas ISO, its structure, functions, and current market status. Participants will explore the fundamentals of day-ahead and real-time energy auctions, as well as concepts such as Locational Marginal Pricing (LMP), Congestion Revenue Rights (CRRs), and generation capacity markets related to resource adequacy. The seminar will also delve into the operational and economic challenges posed by the integration of renewable resources like solar and wind, distributed generation, demand response, and energy storage. Attendees will gain insights into the dynamic Texas wholesale and retail competitive markets, how these markets interface with ISO energy auctions, and the intricacies of nodal market operations concerning energy, ancillary services, market settlements, capacity, retail, and renewables.The seminar will cover new market opportunities arising from Texas renewables, including wind and solar, and address the implications of the ongoing redesign of ancillary services and future market initiatives. Participants will learn about the crucial role of Qualified Scheduling Entities (QSEs) in representing market participants, as well as the lessons learned from the Texas 2021 rolling brownout events and the changes that ensued from transitioning to a nodal market design. Additional topics include understanding the significance of shadow prices in relation to LMP, congestion management, settlement processes, and the relationship between day-ahead and real-time markets. The program will also highlight the roadmap for energy storage, addressing the interconnectivity of natural gas and power markets, and the planning steps for resource interconnections.The seminar is suitable for a diverse audience including professionals from natural gas and electric utilities, government regulators, energy producers, traders, financial institutions, and industrial trade groups, providing a solid foundation in understanding the Texas ERCOT market. Delivered by Dr. Randell Johnson, an expert in power markets and energy storage, the program is structured to accommodate participants at a fundamental level, beginning with basic concepts and advancing to intermediate topics. The seminar includes meals and breaks, ensuring a conducive learning environment, and attendees will receive a professionally produced seminar manual for future reference. This engaging seminar will take place at the National Oilwell Varco in Houston, United States.