Supervised the selection process and implementation of a risk information system for a municipal electric utility. 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.
Reviewed the physical and financial unregulated and regulated operations of a natural gas utility for the purpose of developing a comprehensive corporate education curriculum.
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.
Performed correlation and volatility analysis, and provided cross-hedge instrument selection and strategy recommendations for fuel consumers in Alaska.
Provided natural gas market analysis and hedge strategy recommendations for an international fertilizer producer.
Developed a hedging strategy and risk management program, price risk and credit risk management policies, participated in senior risk committee meetings, and assisted in negotiating credit provisions for complex forward start long-term energy transactions for a public utility in ERCOT.
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 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, and Asia 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.