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Power Trading

Nivel 4

power trading.jpg

1-25 Martie 2026

Cursul se desfasoara in limba engleza 

Programul educațional „Power trading” se desfasoara online ca un pachet de e-learning fiind finalizat cu un webinar care va sedimenta cunostiintele dobandite individual. El include diverse module, materiale de studiu,  examene și certificare. Studenții care promovează examenul pot alege să fie înregistrați ca Chartered Professional la charter-ul Entrima. Programele „Energie, piețe energetice și tranzacționare” sunt concepute special pentru a extinde cunoștințele și abilitățile cursantilor cu privire la energia electrica. Programele acoperă producția de energie electrică, transportul și infrastructura electricității, livrarea și consumul de energie electrică, organizarea piețelor europene de energie, rolul participanților la piață, reglementarea piețelor europene de energie electrică, rolul guvernelor, stabilirea tarifelor și impozitul, produsele legate de energie și prețurile acestora, tranzacționarea energiei electrice, platforme de tranzacționare a energiei, gestionarea activelor și a portofoliului de energie, tranzacționarea susținută de active, optimizarea centralelor electrice, strategii de tranzacționare a energiei electrice și procese legate de tranzacționare, cum ar fi decontarea, facturarea, evaluarea pozițiilor.

Entrima a fost fondată (2014) pentru a oferi o soluție participanților la piață pentru afluxul de reglementare a piețelor de capital și energie. Diverse pachete de reglementare necesită pregătirea personalului; educația este o parte obligatorie a cadrului de conformitate. Interpretarea cazurilor practice necesită cunoștințe specifice despre piețe, produse, prețuri și tranzacționare, precum și lanțurile valorice ale metalelor, produselor agricole, petrolului, gazului, cărbunelui și electricității. Aceasta înseamnă că examinarea și certificarea au devenit importante și Entrima a început să ofere o soluție de invatare către participanții de pe piață.

Cursul se adresează persoanelor  care

  • doresc să obțină/dețină cunoștințe detaliate privind tranzactionarea energiei electrice;

  • necesita pregatire in metode moderne de tranzactionare in vederea dezvoltarii activitatii de vanzare cumparare a energie electrica la nivel engros;

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Oportunitati

  • Participantul la seminar beneficiază de metode moderne interactive de predare, beneficiind  atat de accesul la o platforma de learning de top in acest domeniu cat si de prezenta unui lectori cu experiență practică și teoretică.

  • Studenții care promovează examenul pot alege să fie înregistrați ca Chartered Professional la charter-ul Entrima

  • La sfarsitul programului, pe langa cunostiintele acumulate, cursantii raman cu acces timp de cateva luni la platforma interactiva de learning Entrima, putand accesa orice curs din aceasta.

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Curricula de pregatire
Programe de pregatire individuala desfasurata pe platforma Entrima:
·                                                 

FUNDAMENTALS OF MARKETS & TRADING

  1. The market place

  2. Parties & their roles

  3. Market working

  4. Deal-making

  5. Market structures & mechanisms

  6. Market access

  7. Funding

  8. Price drivers & market influences

  9. Price formation & indexation

  10. Key trading concepts

  11. Introduction to trading instruments

  12. Deal lifecycle

  13. Risk management tools & techniques

  14. Trade compliance & surveillance

  15. Accounting

  16. Trading tools & technology

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MARKET DESIGN 

  1. Introduction to market design

  2. Market structures

  3. Market participants & roles

  4. Price formation & market mechanisms

  5. Trading frameworks & mechanisms

  6. Incentives & efficiency in market design

  7. Risk management in market design

  8. Integration of renewable energy & emerging technologies

  9. Regulatory & compliance aspects

  10. Innovations & trends in market design

  11. Case studies & practical applications

  12. Implicit versus explicit transactions

  13. Use it or lose it

  14. Capacity mechanims, balancing markets & ancillary services

  15. Target model

 

THE ELECTRICITY SUPPLY CHAIN  

  1. Introduction to the electricity supply chain

  2. Power generation

  3. Electricity storage

  4. Electricity transmission

  5. Electricity distribution & consumption

  6. Key players in the electricity supply chain

  7. The future of the electricity supply chain

  8. Challenges regarding the electricity supply chain

  9. Opportunities in the electricity supply chain

 

POWER MARKETS & TRADING   

  1. Introduction to power markets

  2. Market structures & participants

  3. Power generation & grid infrastructure

  4. Power market design & price formation

  5. Wholesale power trading

  6. Power derivatives & risk management

  7. Intraday & balancing markets

  8. Capacity markets & ancillary services

  9. Renewable energy & PPAs

  10. Regulatory & compliance frameworks

  11. Emerging trends & future developments

 

BALANCING THE GRID, BRPs & BALANCING MARKETS   (40 minutes)                    

This course concerns the balancing of the high voltage electricity transmission network. This means the relevant mechanisms are covered, the roles of system operators and balancing responsible parties (BRPs), the rules of the system operators and the related balancing markets.

This course covers the following video lessons:

  1. Introduction to electricity markets

  2. Fundamentals of balancing in electricity markets

  3. Balancing responsible parties (BRPs)

  4. Balancing markets

  5. Imbalance settlement

  6. Tools & technologies for balancing

  7. Case studies

  8. Emerging trends & challenges

 

POWER MARKETS – MARKET COUPLING           

  1. Overview of electricity markets

  2. Market design principles

  3. What is market coupling?

  4. Cross-border trade & congestion management

  5. The evolution of European electricity market integration

  6. Flow-based market coupling in Central Western Europe

  7. Nordic & Baltic regional market integration

  8. Role of EPEX SPOT in European electricity markets

  9. Price coupling of regions

  10. Price convergence & welfare gains

  11. Market anomalies & limitations

  12. Towards a pan-European market

  13. Innovations & digitalisation in market coupling

  14. Policy & regulatory landscape

  15. The role & functioning of EUPHEMIA

  16. CACM & market coupling in the European electricity market

  17. Simulating market coupling

  18. Case study: The 2021 decoupling incident

  19. Case study: Market reaction during the 2022 Energy Crisis

  20. Case study: Effects of new interconnections – The North Sea Link

 

POWER MARKETS – DAY-AHEAD POWER AUCTION                                    

  1. Introduction to the European electricity market

  2. Fundamentals of electricity trading

  3. The day-ahead market

  4. Mechanisms of day-ahead auctions

  5. Market coupling & cross-border trading

  6. Regulatory & policy framework

  7. Technical & economic considerations

  8. Tools & platforms for day-ahead trading

  9. Risk management in day-ahead trading

  10. Future trends & developments

  11. Practical exercises & case studies

 

POWER PURCHASE AGREEMENTS (PPAs) – INTRODUCTION    

  1. Introduction

  2. Lifecycle of a power generation project

  3. Project finance

  4. Bankability

  5. Roles of actors

  6. Overview of PPA obligations

  7. Timing requirements

  8. Tariff structures

  9. Invoicing & payment

  10. Risk allocation & mitigation

  11. Commercial operational data

  12. Development or construction risk

  13. Operational phase risks

  14. Change in law risk

  15. Change in tax

  16. Force majeure

  17. Fuel supply & price risk

  18. Insurance

  19. Dispute resolution

 

VALUE AT RISK   

  1. Dynamic & flexible

  2. The meaning of the value at risk

  3. 3 value at risk methods – Introduction

  4. The parametric approach

  5. Linearity versus non-linearity

  6. Relevant parameters – Introduction

  7. Relevant parameters – Confidence level

  8. Relevant parameters – Time horizon

  9. Relevant parameters – Typical settings

  10. Historical simulation – Introduction

  11. Historical simulation – Pros & cons

  12. Monte Carlo simulation – Introduction

  13. Monte Carlo simulation – Models

  14. Monte Carlo simulation – Different probability distributions

  15. Monte Carlo simulation – Step-by-step application

  16. Monte Carlo simulation – Practical application in Excel

  17. Stress testing – Introduction

  18. Stress testing – Ways to perform stress tests

  19. Stress testing – Worst case performance & worst losing streak

  20. Stress testing – Expected shortfall – Introduction

  21. Stress testing – Expected shortfall – Example

  22. Stress testing – Disadvantages

  23. 3 value at risk methods – Advantages & disadvantages – Comparison

  24. 3 value at risk methods – Advantages & disadvantages – Listings

  25. Calculations – Individual position - 1

  26. Calculations – Individual position - 2

  27. Calculations – Portfolio – 2 positions

  28. Calculations – Correlation coefficients – Impact on VaR

  29. Calculations – Correlation coefficients – Limitations

  30. Calculations – Portfolio – 3 positions

  31. Calculations – VaR versus P&L

  32. Calculations – FX exposures

  33. Cash flow at risk

 

FLEXIBILITY IN SUPPLY CONTRACTS – DYNAMIC HEDGING     

  1. Flexibility in physical assets

  2. Flexibility in supply contracts

  3. Embedded options

  4. Structured contracts

  5. Modelling of embedded options

  6. Modelling business decisions

  7. Supply contract - Take-or-pay

  8. Supply contract - Volume flexibility

  9. Supply contract - Swing option

  10. Supply contract - ACQ & DCQ

  11. Supply contract - Click contract - Introduction

  12. Supply contract - Click contract - Price cap

  13. Supply contract - Click contract - Multiple clicks

  14. Supply contract - Validity period of proposal

  15. Supply contract - Supplier portfolios full of optionality

  16. Supply contract - Volume flexibility - Modelling

  17. Supply contract - Volume flexibility_Hedging embedded optionality

  18. Supply contract - Volume flexibility_Hedging embedded optionality - Market liquidity

  19. Supply contract - Volume flexibility_Hedging embedded optionality - Possible scenarios

  20. Supply contract - Volume flexibility_Delta-hedging with term contracts

  21. Supply contract - Volume flexibility_Delta-hedging with term contracts - Periodic adjustments

  22. Supply contract - Volume flexibility - Delta-hedging with term contracts - Objectivity-subjectivity

  23. Supply contract - Swing optionality - Introduction

  24. Supply contract - Swing optionality - The value of swing options

  25. Supply contract - Swing optionality - Hedging with futures

  26. Physical capacity - Input & output

  27. Physical capacity - Future margin

 

FLEXIBILITY IN PHYSICAL ASSETS – ASSET-BACKED TRADING   

  1. For valuation & hedging purposes

  2. Spread option valuation

  3. Storage capacity - Hedging the time spread exposure

  4. Storage capacity - Time spread option

  5. Storage capacity - Hedging call on time spread

  6. Storage capacity - Complexity

  7. Transport capacity - Hedging the location spread exposure

  8. Transport capacity - Location spread option

  9. Production & consumption capacity - Margin option

  10. Production & consumption capacity - Power plants

  11. Production & consumption capacity - Refinery & crusher

  12. Hedging spread options versus hedging capacity

  13. Liquidating a hedge on an outright position

  14. Liquidating a hedge on storage capacity

  15. Liquidating a hedge on transport capacity

  16. Liquidating a hedge on processing capacity

  17. Dynamically hedging an outright option

  18. Dynamically hedging a spread option - Strategy

  19. Dynamically hedging a spread option - Details

  20. Model versus reality - Mismatch of characteristics

  21. Model versus reality - Number of options & granularity

  22. Model versus reality - Path-dependency

  23. Model versus reality - Path-dependency - Forward start option

  24. Model versus reality - Path-dependency - Exchange option

  25. Model versus reality - Path-dependency - Lookback option

  26. Model versus reality - Path-dependency – Barrier option

  27. Modelling power generation capacity - Types of capacity

  28. Modelling power generation capacity - Gas plant - Cross-commodity options

  29. Modelling power generation capacity - Gas plant - Number of options

Modelling power generation capacity - Gas plant - Specific characteristics

 
Webinar de finalizare:
·recapitulare a cursurilor online care au fost urmate pentru a încorpora materialele într-un mod solid
·flexibilitate în portofoliile de energie: Opționalitatea contractuala si fizica
·cum se monetizează / valorifică această flexibilitate / opționalitate
·cum să gestionați această flexibilitate / opționalitate

Costs

  8500 lei/person+TVA

Discounted fee for AFEER member - 5525 lei/person+TVA

Costul cursului

  • 8500 lei/persoană;

Pentru membrii AFEER:  

  • 5525 lei/persoană

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