European Gas and Power Trading Conference

Transcription

1 European Gas and Power Trading Conference Bringing Europe s energy trading community together Wednesday 26 Thursday 27 June 2013 The Hilton Paddington, London Platts is delighted to announce its inaugural European Gas and Power Trading conference which will be taking place in London on 26 & 27 June Building on Platts strong reputation and expertise in the trading, natural gas, LNG and power markets, as well as leveraging our respected brands and leading market coverage and insight, this conference will focus on the key issues at play in today s gas and power markets. The conference agenda, currently being developed in conjunction with leading authorities, will examine the following issues: the latest on gas pricing and gas market design, contractual developments and the ongoing issue of oil indexation of gas pricing versus gas priced at hubs; the challenges and opportunities associated with cross border trading; an update on the progress towards a single European wholesale power market, power price drivers and an examination of market liquidity. Platts European Gas and Power Trading conference designed specifically for Europe s commodity trading, exchange, gas and utility communities will feature presentations and discussions from leading experts at a focused and interactive one and a half day event. This meeting will provide you with the latest information from and give you direct access, through special extended networking sessions, to senior industry experts. Attendees will leave the conference armed with the information and the competitive advantage required to be able to operate more effectively in today s increasingly complex marketplace. Supported by: Confirmed speakers: Sean Williams, Growth Director NASDAQ OMX Commodities and N2EX Phillip Lowe, Director General, Energy DG, European Commission Manuel Baritaud, Senior Electricity Analyst, Gas, Coal and Power Markets Division, International Energy Agency (IEA) Martin Schelker, Head of Trading Desk, EnBW Trading GmbH Jörn Higgen, Head of Fundamental Analysis E.ON Global Commodities SE William Webster, Head of EU Power Market Design and Regulation, RWE Supply and Trading Dr Magnus Wobben, Senior Consultant, d-fine GmbH

2 Stephen Harris, Chairman, Power Trading Forum, The Futures and Options Association and Head of Term Portfolio Management, GDF Suez Francisco de la flor Garcia, Director of Regulation, ENAGAS Dick Zelhorst, Manager Commercial and Regulatory Affairs, Gasunie Transport Services Julian Jessop, Chief Global Economist & Head of Commodities Research, Capital Economics Patrick Hummel, CFA, Executive Director, European Utilities Research, UBS Investment Bank Javier Ojea, Convenor of the ENTSO-E Task Force Coordination European Market Coupling (TF CEMC) Roland Matous, Energy Community Regulatory Board Electricity Expert, Energy Community Secretariat Daniel Joye, Senior Energy Options Trader, BP Mike Calviou, Director of Transmission Network Service, National Grid Rachel Fletcher, Partner Wholesale Markets, OFGEM Patrick Heather, Senior Research Fellow, Oxford Institute for Energy Studies Dr. Shaun Ledgerwood, Senior Consultant, The Brattle Group Georg Zachmann, Research Fellow, Bruegel Dr. Ashna Rahman, Manager, Energy Analytics (Europe), Bentek Energy Paul Whitehead, Senior Managing Editor, European Policy, Platts Henry Edwardes-Evans, Associate Editorial Director, Power in Europe, Platts Day one: Wednesday 26 th June :00 Registration and continental breakfast 08:50 Chairman s opening remarks Henry Edwardes-Evans, Associate Editorial Director, Power in Europe, Platts 09:00 Keynote address: realising the vision of a single market design for power and gas by 2014 What will be achieved by 2014? Market coupling: a key component of market integration Can the target model for the design of the gas and power wholesale markets realistically be implemented across the entire European Union? Phillip Lowe, Director General, Energy DG, European Commission 09:25 How is the market changing shape under new conditions, policies and regulations? How will new market conditions, policies and regulations shape and change the energy trading industry? What can we expect in the regulated markets and in the energy industry in the future? How will these changes impact traders, utilities and liquidity? Sean Williams, Growth Director NASDAQ OMX Commodities and N2EX 09:50 Why are liquid markets essential for trading? The Views of an asset-backed trader What are the short-term and long term drivers for liquidity? What are the potential effects of increased regulation for liquidity and market structure? Martin Schelker, Head of Trading Desk, EnBW Trading GmbH 10:15 Cross border trading in Europe Identifying the barriers to effective trade across Europe What can be done to overcome these challenges? Understanding the regulatory and infrastructure changes and improvements required to facilitate improved cross border trading activity in the region How might future increases in cross border activity affect the market and prices? Roland Matous, Energy Community Regulatory Board Electricity Expert, Energy Community Secretariat 10:40 Refreshment break

3 11:10 Outcomes from the IEA s Regional Integration of Electricity Markets report Recommendations pertaining to market design Capacity in Europe s markets Market integration Implications for Traders Manuel Baritaud, Senior Electricity Analyst, Gas, Coal and Power Markets Division, International Energy Agency (IEA) 11:35 Is the Emissions Trading Scheme (ETS) broken? How low can emissions fall? Spark spreads vs. dark spreads How can the scheme be reformed to support a European wide switch from coal to gas? Patrick Hummel, CFA, Executive Director, European Utilities Research, UBS Investment Bank 12:00 Recent developments in and outlook for global thermal coal -what are the implications for European gas and power markets? China s growing influence in global coal pricing, Atlantic-Pacific arbitrage fundamentals Growing US coal exports and their impact on the global coal market Europe s role in coal from price setter to price taker Coal-gas differentials in Europe forever widening? Effect on merit order and outlook for gas-to-power demand Jörn Higgen, Head of Fundamental Analysis E.ON Global Commodities SE 12:25 Networking Lunch Power trading 13:40 Strategic Gas and Power Portfolio Management - Practical approaches for balancing chances and Risks Due to incomplete (spot) markets, future cash flow risks within your portfolio management cannot be hedged and thus have to be taken. Therefore, trading strategies and investment decisions are no longer based on risk-neutral approaches as in complete capital markets - but rather on the theoretical concept of expected utility and risk aversion. However, meeting appropriate assumptions leads to a practical valuation framework, which can be applied in various fields, e.g. the valuation of physical assets and the optimization of trading strategies. Dr Magnus Wobben, Senior Consultant, d-fine GmbH 14:05 European power price drivers Supply and demand in Europe and macro-economic outlook To what extent do artificial factors impact on prices: the EU Emissions Trading Scheme, renewable generation subsidies and capacity payments? 14:30 The creation of a uniform model of operation in Europe s wholesale electricity market by 2014 Overcoming the difficulties of creating a wholesale market that suits all timeframes Adapting to new procedures and practices arising from changes to market design Determining how much transmission capacity should be allocated to transactions between bidding zones. Will the re-drawing of bidding zone boundaries be required? William Webster, Head of EU Power Market Design and Regulation, RWE Supply and Trading 14:55 Panel discussion: improving the UK s coupling with the rest of Europe How can market coupling go beyond continental northwest European markets to the UK, the North Sea and Ireland? How could coupling of UK and Ireland work to bring in Irish wind power to the UK? What about a North Sea supergrid? Mike Calviou, Director of Transmission Network Service, National Grid Rachel Fletcher, Partner Wholesale Markets, OFGEM Javier Ojea, Convenor of the ENTSO-E Task Force Coordination European Market Coupling (TF CEMC) Georg Zachmann, Research Fellow, Bruegel 15:30 Proposed changes to trading calendar for UK Physical OTC Power Trading

4 Who are the FOA Power Trading Forum and what do we do? Why are we seeking to migrate from the EFA to the Gregorian Calendar? How is this change going to be delivered and when will it happen? Stephen Harris, Chairman, Power Trading Forum, The Futures and Options Association and Head of Term Portfolio Management, GDF Suez 15:55 Refreshment break Gas trading and infrastructure 16:25 The outlook for gas supply and demand in Europe The game changers in European gas fundamentals Demand prospect going ahead Supply what are the main concerns Dr. Ashna Rahman, Head of Analytics & Consulting - Europe, Bentek Energy 16:50 The evolution of gas pricing The transition from oil linked to spot pricing of gas The future role of gas in the generation mix? Patrick Heather, Senior Research Fellow, Oxford Institute for Energy Studies 17:15 Gas infrastructure as an enabler of improved competition and trade Pipelines, LNG facilities and UGS: full utilization or spare capacity? The cost of the infrastructure services vs the cost of the commodity. Control and predictability The interconnections between balancing zones and countries Francisco de la flor Garcia, Director of Regulation, ENAGAS 17:40 End of day one Day two: Thursday 27 th June :45 Continental breakfast 09:30 Chairman s review of day one Paul Whitehead, Senior Managing Editor, European Policy, Platts Gas trading and infrastructure 09:40 The Gas Roundabout and the role of the Dutch TTF Dick Zelhorst, Manager Commercial and Regulatory Affairs, Gasunie Transport Services 10:05 How will US gas exports impact the global market? What can we learn from the impact of the shale revolution on the US itself? How could US gas exports develop over time? Where in the world will the impact be greatest? Julian Jessop, Chief Global Economist & Head of Commodities Research, Capital Economics 10:30 Outlook for power and gas trading in Germany Daniel Joye, Senior Energy Options Trader, BP 10:55 Refreshment break 11:25 The Regulation on Wholesale Energy Markets Integrity and Transparency (REMIT) at just over one year on What scope is there for manipulation to occur, can we ever totally remove the risk? What is left to achieve in terms of greater transparency? Removing the inconsistencies in what, when and how information is disclosed With the gas markets still lagging behind what needs to be done to rectify this situation? A progress report on the implementation of national enforcement and sanctioning powers into national law Dr. Shaun Ledgerwood, Senior Consultant, The Brattle Group 11:50 Panel discussion: Can we still say we have a free market with all these subsidies?

5 Do policy interventions threaten the liberalized market? The very real challenge of integrating energy generated from renewable sources into the wholesale electricity markets Underpinning future base load supply in the absence of nuclear capacity What does the future hold for RES, gas and coal generation? Is there a requirement for pan European capacity support mechanisms? Francisco de la flor Garcia, Director of Regulation, ENAGAS Dr. Shaun Ledgerwood, Senior Consultant, The Brattle Group 12:30 End of conference