Conducted a best practice risk policy gap analysis for the trading operation of a sovereign oil producer.
Developed the trading and risk management policy and procedures, developed the regulatory compliance processes, developed credit risk management policy, and provided risk information system requirements for a renewable energy developer operating in multiple North American power markets.
Expert witness for defendants in a civil lawsuit alleging misappropriation of proprietary trading models for natural gas trading.
Developed the trading and risk management policy for a multi-national energy conglomerate building a substantial renewable energy supply portfolio in North America.
Subject matter expert for plaintiffs in a federal and state antitrust lawsuit involving alleged market manipulation and anti-competitive activities.
Reviewed the natural gas hedging strategy, and recommended changes to the strategy and asset mix, for a gas-fired electric utility in the Midwest U.S., and presented on the utility's behalf with the state regulator.
Reviewed the trading and risk management policy for a top-ten U.S. ethanol producer, provided recommendations for margin hedging strategy, risk and performance metrics, and organizational improvements.
Primary advisor for the negotiation of two utility-scale solar power purchase agreements in ERCOT.
Advised on community solar projects for a municipality in Texas.
Developed controls and governance documents for a natural gas marketer in Mexico.
Conducted a feasibility analysis of prospective forward sales, potential partnerships, possible plant sales and other monetization opportunities for a utility in ERCOT with surplus generation capacity.
Provided congestion hedging risk and value measurements for a distribution utility in ERCOT and provided ongoing congestion revenue rights (CRRs) and point-to-point bidding support services.
Developed an in-depth online option training program and administered multi-month real time separate hedging and speculation option trading simulations.
Acted as lead consultant for a utility-scale solar energy request-for-proposal process for a group of public power entities in Texas.
Developed a renewable energy resource plan featuring solar energy as an on-peak load-following resource for a municipal electric utility in Texas.
Designed a congestion hedging strategy and advised on associated risk management policy revisions for an electric cooperative in Texas; provided ongoing and regular advice on CRR bidding strategy.
Contributed to the design and evaluation of requests-for-proposals for renewable energy resources and natural gas supply for the City of Denton, Texas.
Developed a renewable energy resource plan for the City of Denton, Texas, which was subsequently adopted by the Denton City Council; advised on renewable resource portfolio management.
Advised on industrial rate design for a municipal utility in ERCOT.
Contributed on an ongoing and regular basis to the risk oversight committee meetings and board of trustees meetings for a municipal electric utility in Texas.
Developed renewable resource supply portfolio management strategy, related congestion hedging strategy, and associated renewable resource performance metrics for a municipal electric utility in Texas.
Supervised the selection process and implementation of a risk information system for a municipal electric utility in Texas. Implementation included book structure design, transaction deconstruction for deal entry, report design and development, risk metrics, hedge effectiveness performance measurements and the valuation of load-following options.
Provided qualitative risk management services, including the review of energy risk management practices, the revision of the delegation of trading authority, the implementation of a new senior management oversight committee structure, recommendations for Middle Office staffing requirements, and the review of risk management policies for the parent company of multiple electric and natural gas utilities in the U.S. Northeast.
Reviewed the multi-billion dollar natural gas hedging program for a U.S. federal agency and provided recommendations for improving program objectives, hedge strategies, market instrument selection, risk metrics, and controls.
Successfully assisted a public entity in recovering hedging costs by providing expert testimony in a state regulatory hearing.
Reviewed the risk policy, controls and organizational structure, and made recommendations for business process improvements, for the unregulated power marketing subsidiary of a Canadian electric utility.
Evaluated the risk policy, procedures document, strategy documents, and associated control structure for a regulated Canadian natural gas utility.
Assessed the fuel price risk and developed a fuel hedging strategy for a 4,000 MW investor owned utility that is a subsidiary of one of the largest electricity generators in the U.S.
Reviewed the commodity information systems of various business units in the midstream operation of a large Canadian oil and gas producer. Provided recommendations for a systems plan.
Engaged by a California state agency to evaluate their existing hedging program and to develop a revised hedging program to manage the risk of long-term power purchase agreements for one of the largest state-built water and power development and conveyance systems in the U.S.
Advised a 1,200 MW public power agency in the U.S. Northeast on the development of a trading and risk management organization, including the development of hedging strategies, a strategy to optimize a dual-fuel power plant, and an innovative credit risk measurement model.
Developed a natural gas hedging program for an organization that provides trading and risk management services to 39 public power organizations with 25,000 MW of combined generating assets.
Delivered a variety of trading and risk management seminars in North America, Europe, Asia and South America covering subjects such as best practice controls and governance for trading and risk management, risk measurement including value at risk and stress testing, price risk management, option pricing and option strategies, power and natural gas trading, credit risk management, the use of exchange-traded and OTC derivatives, and technical price analysis.
Evaluated the degree of compliance of derivative trading strategies with the risk policy of a 3,000 MW municipal electric utility, and advised on the suitability of risk metrics and portfolio limits.
Advised a Southern California municipal utility on the development of energy risk management capabilities, including the development of a hedging strategy, the use of financial instruments, the development of a credit risk management policy, and requirements for information systems.
Advised a 9,000 MW Canadian power producer on the feasibility and business case for developing real-time trade capture, risk measurement, and risk reporting capabilities.
Evaluated fuel cost risk exposures and fuel cost risk mitigation alternatives for a California State Agency's combined cycle natural gas generation plant.
