The principal aim of this course is to expose delegates, to comprehensive training on gas and power hedging and risk management for utilities in an applied context.
The course will enable participants to gain a practical working knowledge of gas and power markets, their main players and common traded instruments. Delegates will gain a practical understanding of the various dimensions of risk for utilities active in gas and power markets and the various tools to manage and transfer those risks.
We will present new approaches to hedge energy exposures with derivatives as well as useful techniques to unbundle gas and power structures in long term contracts and physical assets. Particular emphasis is placed on the use of derivatives as well as physical assets and contracts to manage price, credit, volumetric, and operations risk.
The Pre-Study Course will focus on the following topics:
- Basic Knowledge of Power Markets
- Good working knowledge of Microsoft Excel. Delegates will receive a pre-course reading package reviewing the main Excel functionality that will be used during the course
- Basic knowledge of physical transactions and derivatives. Knowledge of basic Physical sales and purchases, forward, futures, options.
Please note: a laptop and Excel version 2007 or later is required in order to engage in market data.Course Methodology And Materials
This course is highly interactive, and we encourage delegate participation and group discussions.
Numerous case studies are presented throughout the courses, with particular emphasis on the interpretation and use of trading and risk management concepts introduced in real-life examples.
Delegates will make presentations to the group and conduct numerous individual and group exercises.Trading Simulation
The trading simulation will provide an opportunity for delegates to use the main hedging instruments as well as take advantage of market views as a response to changes in power market conditions. Delegates will execute their own trading strategy and will calculate and monitor their own P/L, adjust their hedge book, as well as keep positions within limits such as volumetric, stop losses, VaR and Stress tests.
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