People who are required to work on or who are involved (or may become involved) in the Wholesale Trading and end consumer Supply of electricity in a competitive market. 

To provide a sound knowledge and understanding of the Electricity Supply developments in the UK since deregulation in 1989

   _T10 Electricity Supply Overview 

   1. Electricity Supply Historic background   

 _ 1. Historic background

1. Development of the electricity industry in UK

2. Early economic lessons - marginal cost pricing

3. Comparison with other countries

4. First electricity market - Norway

5. Demand side management pressures (USA)

   2. Electricity Industry structure in UK   

 _ 2. Electricity industry structure in UK

1. The companies

2. Limits to competition - "natural monopolies" of transmission and distribution

3. NGC and the electricity pool

4. The move towards vertical integration

   3. Electricity Supply comparisons with other countries   

 _ 3, Comparisons with other countries

1. Europe - the energy competition directive

2. Australia - the national market

3. New Zealand - the Kiwi experiment

4. Norway - The Nordic pool and the Scandinavian market

5. USA

6. Others - Argentina, Canada, etc

   4. Electricity Supply  - Competition and the customer   

 _ 4. Competition and the customer

1. Analysis by segment

2. Competitor analysis

3. The customer's perspective

4. Customer power in the market

5. The marketing plan

6. Effects on prices

7. Billing and payment systems

8. Future developments

   5. Electricity Supply - Customer focus   

 _ 5. Customer focus

1. Marketing - selling contracts in the retail market

2. Customer management methods

3. The need for culture change and how to achieve it

4. Benchmarking and peer comparison

   6. Regulation   

 _ 6. Regulation

1. Regulatory contract and price review

2. Regulatory models - Rpi-X Versus Rate of Return

3. Limits to competition

4. Impact on the UK electricity industry

5. Comparisons with other utilities

   7. The Market rules   

 _ 7. The Market rules

1. The composition of the pool price

2. The components of uplift

3. Ancillary services

4. Compulsory trading

5. How the pool price is determined

6. Demand side bidding

7. ransmission losses

8. Trading across interconnectors (France, Scotland)

   8. Electricity pool structure   

 _ 8. Electricity pool structure

1. Organisation and development

2. Pool Membership

3. The Pool rules

4. The Pooling and Settlement agreement

5. Service lines and contractual arrrangements

6. Agreed procedures

   9. Alternative Electricity Supply market structures   

 _ 9. Alternative market structures

1. Markets versus pools

2. Possible changes

3. Voluntary membership

  10. Pool settlements   

 _10. Pool settlements

1. Settlement system administrator

2. Metering, data collection, processing

3. Energy pool funds administrator

4. Other parties involved

  11. Pooling and Settlement Agreement   

 _11. Pooling and Settlement Agreement

1. Document A

2. Document B

3. Software System A

  12. The Pool experience 1990-2001   

 _12. The pool experience 1990-2000

1. Pool price review

2. Pool review, 1993 - (alternatives considered)

3. Problems of 1994 (second phase of de-regulation)

4. Regulatory intervention

5. Effect of competition

6. Bidding tactics

7. 1998 - full retail competition

  13. Energy trading function   

 _13. Energy trading function

1. Load forecasting

2. Pool price forecasting

3. Pricing - analysis and components of price

4. Pricing - meeting customer needs

5. Purchasing

6. The Energy Management Centre (EMC)

  14. Energy trading risks   

 _14. Energy trading risks

1. How risks are managed in commodity markets

2. Managing risks in energy markets

3. Pool price volatility

4. Regulatory and compliance issues

5. Risk faced by retailers

6. Risks faced by generators

7. Front and back office functions

  15. Energy risk management methods   

 _15. Energy risk management methods

1. The financial consequences

2. The tools of the trade - models for risk management

3. Transferring risks to others

4. Hedging instruments and how they reduce risk

  16. Managing risk - the generator perspective   

 _16. Managing risk - the generator perspective

1. Baseload generators

2. Peaking generators

3. Portfolio generators

4. Independent power producers

  17. Managing risk - the retailer perspective   

 _17. Managing risk - the retailer perspective

1. Managing the load curve and selling contracts

2. Metered contracts

3. Swap versus options

4. Timing the purchasing decisions

5. Integrated energy trading - retailing and generation

  18. Hedging instruments - types and uses   

 _18. Hedging instruments - types and uses

1. Options (1-way CFDs)

2. Swaps (2-way CFDs)

3. Futures trading

4. Electricity forward agreements (EFAs)

5. Combinations

6. Exotic hedges

  19. New Energy Trading Arrangements (NETA)   

 _19. New Energy Trading Arrangements (NETA)

2. The Balancing Mechanism

3. Early experience if operation

4. Role of the System Operator

5. BM Bids and Offers

6. Trading timescales and strategies

7 Comparison with the Pool

20. Electricity Supply  - Economics background   

 _20. Economics background

1. Fundamental economics of electricity supply/demand

2. Basic market mechanisms - price discovery

3. Facts and figures relating to electricity production and consumption

  21. Electricity and other energy markets   

 _21. Electricity and other energy markets

1. Power generation and the fuel effects

2. Energy efficiency

3. Arbitrage between fuels

4. Externalities - pollution controls

5. Renewable energy production

  22. Electricity Supply - Financial appreciation   

 _22. Financial appreciation

1. Financial terminology - present value, rate of return, financial ratios

2. Financial versus economic project evaluation

3. Financial implications of strategic plans

  23. Electricity Supply - Human resources   

 _23. Human resources

1. Achieving a multi-skilled workforce

2. Reward systems and staff appraisals

3. Training needs for managing change 

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