GB BETTA CCGT Simulation Course
In contrast to traditional classroom-based courses, the GB power market simulation course allows participants to put into practice what they have learned immediately, in a ‘safe’ environment. Buying and selling power through the simulator to take or close positions gives them a ‘hands-on’ feel for the operation of the market and some of its risks, such as price discontinuities and lack of liquidity. Running the simulation shows participants what the market is like in practice, with time-limited decisions needing to be made against a background of incomplete information.
What does the course cover:
- BETTA Market: What is BETTA and how does the market work.
- Day-Ahead Auction: In each scenario, participants get the opportunity to make bids and offers for power in the day-ahead auction, taking account of the physical parameters of the CCGT plant and forward traded positions for power and gas.
- Within-Day Market:Participants’ auction results are added to their traded position. They proceed to practice trading individual half- hourly periods, as well as balancing gas and carbon, to improve their position.
- Balancing Market:A simplified representation of the Balancing Mechanism allows participants to offer the inherent flexibility of the Generation Portfolio to the system operator. Accepted bids and offers provide significant financial rewards against relatively small volumes of traded power.
- Financial Results: The simulation calculates the full and detailed financial results of participants’ activities. This includes the costs and revenues generated from power, gas and carbon trading, activity in the Balancing Mechanism and the results of any imbalances between traded and physical positions.
Who is it for:
- Generators: give staff an end-to-end view of trading plant with similar characteristics to their own fleet. Operation and trading personnel working together gain an appreciation of each other’s issues and the importance of clear and timely communication.
- Supplier and Traders: gain insight into the technical and commercial factors that affect price formation by looking at the market from a generator’s perspective
- Senior Management: understand the risks and opportunities present in the market at a detailed operation level and issues and time pressures facing their traders.
- Middle and Back Office Staff: experience directly the market and operational issues facing their trading colleagues. The simulation provides first-hand experience of some of the common market risk and errors that occur regularly in trading.
Included in the ticket price: Admission to the 8 hour workshop, use of simulation and course notes.
Who is putting it on: Apt Energy Solutions offers a range of on and off-line trading courses, interactive simulations where students come together to analyse, share ideas and learn.
Sandy Wito will lead the course and he is an independent consultant with 25 years of commercial experience in the energy sector. He has worked in trading roles for major utilities (SSE, Scottish Power) and independents (Airtricity, InterGen).
APT Energy offers a portfolio of highly detailed interactive Energy Market Simulations. Simulations have been developed (and are continually updated) with major utilities ensuring a detailed and realistic insight and hands-on experience.