Company Leadership
Larry G. Lawrence
President
Mr. Lawrence has 35 years of experience in risk management and trading. His experience includes financial trading in energy and equity markets, risk management and trading consulting, derivatives portfolio management, technical and options analysis, corporate education, advisory service publishing, and institutional sales.
Mr. Lawrence has extensive experience in trading and risk management implementation for energy companies. His experience includes hedge strategy development; tactical trading assistance; the development, review and auditing of trading and risk management policies, procedures, and control structures; the review and assessment of risk management programs; risk and performance measurement; risk assessment; trading and risk information system selection and implementation; transaction structuring; real option valuation and modeling; market structuring; development of forward price curves and term structures of volatility; credit risk management; and trading and risk management education.
Mr. Lawrence has worked extensively with public power entities such as state agencies, municipal utilities, provincial utilities, and co-ops. He is well versed in adapting risk management best practices to the resource constraints of such organizations, He has worked with many public power agencies in the South Central, Northeastern, and Western regions of the U.S., assessing and developing hedging strategies and risk management policies and controls, conducting trader training, and advising on the use of hedging instruments.
He has developed and delivered educational material covering derivative instruments, option valuation, hedging with options, the development of a risk management program, trading controls, value at risk, technical analysis, technical trading, and basis trading.
He has assisted industrial energy consumers in assessing their energy-related risks, in developing strategic hedging frameworks, and in implementing supply procurement programs.
Mr. Lawrence worked extensively with investor-owned electric utilities during the late 1990s and early 2000s, implementing hedging programs; developing and implementing hedge optimization models, asset valuation models, risk models, and performance measurement models; developing risk management and business strategies for retail providers; implementing credit risk management programs, and training power and fuel traders.
Mr. Lawrence holds the BS in Communications from the University of Texas at Austin. He is registered with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) as a Commodity Trading Advisor (CTA), and with the State of Texas as an Investment Advisor.
Neil F. McAndrews
Senior Principal
Mr. McAndrews has over 30 years of experience in the energy industry. He was a founder and later Chief Operating Officer of one of the first integrated risk management programs for an electric utility in the US. This program was innovative because it applied risk management controls and techniques to both financial and physical market risks. Risk metrics included financial derivative performance, physical supply uncertainty and risk reporting and control. Later he assisted in establishing enterprise wide energy risk management and power trading programs at utilities in several NERC regions, working with both executive staff and boards of directors. He has extensive energy risk management experience with some of the largest wholesale power transactions in Texas and in PJM over the last five years. He has conducted risk management training at the Texas Public Power Association and the American Power Association membership seminars, and is the author of numerous technical papers and economic and financing studies related to the subject of risk management in power markets.
Mr. McAndrews holds a BS in Geology from the University of Iowa and a MA in Energy and Mineral Resources from the University of Texas.
Larry G. Lawrence
President
Mr. Lawrence has 35 years of experience in risk management and trading. His experience includes financial trading in energy and equity markets, risk management and trading consulting, derivatives portfolio management, technical and options analysis, corporate education, advisory service publishing, and institutional sales.
Mr. Lawrence has extensive experience in trading and risk management implementation for energy companies. His experience includes hedge strategy development; tactical trading assistance; the development, review and auditing of trading and risk management policies, procedures, and control structures; the review and assessment of risk management programs; risk and performance measurement; risk assessment; trading and risk information system selection and implementation; transaction structuring; real option valuation and modeling; market structuring; development of forward price curves and term structures of volatility; credit risk management; and trading and risk management education.
Mr. Lawrence has worked extensively with public power entities such as state agencies, municipal utilities, provincial utilities, and co-ops. He is well versed in adapting risk management best practices to the resource constraints of such organizations, He has worked with many public power agencies in the South Central, Northeastern, and Western regions of the U.S., assessing and developing hedging strategies and risk management policies and controls, conducting trader training, and advising on the use of hedging instruments.
He has developed and delivered educational material covering derivative instruments, option valuation, hedging with options, the development of a risk management program, trading controls, value at risk, technical analysis, technical trading, and basis trading.
He has assisted industrial energy consumers in assessing their energy-related risks, in developing strategic hedging frameworks, and in implementing supply procurement programs.
Mr. Lawrence worked extensively with investor-owned electric utilities during the late 1990s and early 2000s, implementing hedging programs; developing and implementing hedge optimization models, asset valuation models, risk models, and performance measurement models; developing risk management and business strategies for retail providers; implementing credit risk management programs, and training power and fuel traders.
Mr. Lawrence holds the BS in Communications from the University of Texas at Austin. He is registered with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) as a Commodity Trading Advisor (CTA), and with the State of Texas as an Investment Advisor.
Neil F. McAndrews
Senior Principal
Mr. McAndrews has over 30 years of experience in the energy industry. He was a founder and later Chief Operating Officer of one of the first integrated risk management programs for an electric utility in the US. This program was innovative because it applied risk management controls and techniques to both financial and physical market risks. Risk metrics included financial derivative performance, physical supply uncertainty and risk reporting and control. Later he assisted in establishing enterprise wide energy risk management and power trading programs at utilities in several NERC regions, working with both executive staff and boards of directors. He has extensive energy risk management experience with some of the largest wholesale power transactions in Texas and in PJM over the last five years. He has conducted risk management training at the Texas Public Power Association and the American Power Association membership seminars, and is the author of numerous technical papers and economic and financing studies related to the subject of risk management in power markets.
Mr. McAndrews holds a BS in Geology from the University of Iowa and a MA in Energy and Mineral Resources from the University of Texas.
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