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LMP Basis Risk & Mitigation Strategies

April 29 - 30, 2026 Online :: Central Time

“The knowledge of the presenters is very specialized and can be intensely technical, but their ability to field all questions from people of different levels of experience was impressive.” 

ERM Power Operations Analyst, CMS Energy

“The course offered an in-depth understanding of congestion and its driving components that has greatly increased my understanding of electricity markets. I look forward to applying the principles in my day-to-day.” 

Business Development Associate, LS Power Development, LLC

This course examines LMP basis risk, an essential – but often overlooked or misunderstood – concept that renewable developers must build into their project development financials.  Failure to assess and quantify LMP basis risk can weigh down renewable energy projects so they find themselves “underwater”, even after an otherwise solid due diligence and bidding process.

The methodology presented in this program will benefit anyone on a renewable energy project development team who deals with estimating, trading, negotiating and decision-making that must take into account current and future locational marginal pricing (LMPs) in wholesale electric markets.  Following a review of LMP basis risk assessment, real-world situations will be dissected using publicly available data and scenarios. Case studies and worked examples using analytical tools will illustrate the impact of LMP basis risk on the “bottom line” of renewable energy projects.  And subject matter experts will discuss best practices to address:

  • What makes a credible LMP basis risk forecast under uncertainty?
  • How should I price LMP basis risk in my proposed project?
  • How can I mitigate LMP basis risk in existing and upcoming projects?

Learning Outcomes

Using real-world situations and illustrative examples, this instructional course will:

  • Identify the economic dimensions that influence LMP basis risk in a project
  • Analyze the monetary impact that LMP basis risk can have on a project
  • Define what aspects of LMP basis risk can be controlled
  • Examine what aspects of LMP basis risk can’t be controlled
  • Evaluate the different “flavors” of curtailment and how they affect LMP basis risk
  • Illustrate how to forecast LMP basis risk and why that’s important

Register

Please Note: This event is being conducted entirely online. All attendees will connect and attend from their computer, one connection per purchase. For details please see our FAQ

If you are unable to attend at the scheduled date and time, we make recordings available to all attendees for 7 days after the event

REGISTER NOW FOR THIS EVENT:

This event has passed and cannot be registered for. If you would like to see if this event will be offered again please reach out to [email protected]

Your registration may be transferred to a member of your organization up to 24 hours in advance of the event. Cancellations must be received on or before March 27, 2026 in order to be refunded and will be subject to a US $195.00 processing fee per registrant. No refunds will be made after this date. Cancellations received after this date will create a credit of the tuition (less processing fee) good toward any other EUCI event. This credit will be good for six months from the cancellation date. In the event of non-attendance, all registration fees will be forfeited. In case of conference cancellation, EUCIs liability is limited to refund of the event registration fee only. For more information regarding administrative policies, such as complaints and refunds, please contact our offices at 303-770-8800

EUCI retains the right to refuse registration by any individual or company.

Day one

Wednesday, April 29, 2026

Day two

Thursday, April 30, 2026

Agenda

Wednesday, April 29, 2026
Central Time

Online

Log In and Welcome

8:45

Lunch Break

12:45 - 1:30 PM

Adjourn for the day

4:30 PM

8:45 - 9:00 AM

Log In and Welcome

9:00 - 9:15 AM

Overview and Introductions

9:15 - 10:30 AM

Setting the Stage

  • What is basis?
  • What is basis risk?
  • Relationship of basis to PPA pricing

Prediction Under Uncertainty – Drivers

  • Preliminary estimation
  • Basis elements
    • Transmission constraints and congestion
    • Marginal loss pricing
  • Capacity consideration
    • Underlying energy flow on every line
    • Overbuild
    • Correlation of renewable production
  • Other elements
  • Scenarios
10:30 - 10:45 AM

Morning Break

10:45 AM - 12:45 PM

Prevention – What Can Be Controlled

  • “Landscape” considerations
    • Market dimensions
    • Business
  • Location
  • In-service context
    • Component(s)
    • Timing
    • Relative system compatibility
  • Assessing transmission line constraints
  • PPA terms negotiation
  • Consultant studies
12:45 - 1:30 PM

Lunch Break

1:30 - 3:00 PM

Risks – What Can Not Be Controlled

  • Transmission network
    • Outages
    • Upgrades
  • Competitive financial and economic conditions
    • Project-specific
    • System supply stack configuration
  • Policy shifts
    • Fuel-based and/or environmental mandates
    • Tax incentives and structuring
  • Market dynamics
    • Administrative measures
    • Supply stack composition
    • Commodity pricing
3:00 - 3:15 PM

Afternoon Break

3:15 - 4:30 PM

Mitigation Measures After Commercial Operation Commencement

  • Market bidding strategies
  • Congestion management strategies
  • Transmission infrastructure
    • Elective and non-elective
  • Remedial action schemes (RAS)
  • Storage

Common Mistakes that Project Developers Should Avoid

The Cycle of Basis Evolution – and Why That’s Important

Survey of ISO Markets & Congestion Instruments

All Day One Content Delivered by:

Nicholas Pratley Principal Pratley Group Energy Advisors

4:30 PM

Course Adjourns for Day

Agenda

Thursday, April 30, 2026
Central Time

Online

Log In

8:45

Adjourn for the day

12:15 PM

8:45 - 9:00 AM

Log In

9:00 - 9:30 AM

What It Means to “Wear” Basis Risk

Wearing basis risk skillfully often separates a successful renewable energy project from one that does not hit all its financial marks.  EDF Renewables, a leading North American independent power producer, will discuss approaches and methodologies to forecasting basis risk including production cost simulation modeling, strategies for risk mitigation including sponsored upgrades, FTRs, transmission planning advocacy and grid-enhancing technologies.

Alexandra Miller Senior Director – Transmission Analytics & Policy EDF Renewables North America

9:30 - 10:00 AM

Regulatory Elements That Impact Congestion Risk In The Market

This presentation will delve into key transmission and market rules and processes that can impact congestion risk in the market.  It will examine opportunities for new transmission build under RTOs’ transmission planning processes and interconnection studies and FERC policy, as well as other market developments with impact on congestion patterns.  These include aspects such as power-gas market coordination, distributed resources and generation retirements.

Bruce Tsuchida Principal The Brattle Group

10:00 - 10:30 AM

Addressing LMP Basis Risk through System Reconfiguration Services

Reconfiguration services are an important tool in relieving constraints that contribute to LMP basis risk confronting renewable energy IPPs, load serving entities, and RTOs.  This presentation will provide examples of type of constraints that can be addressed by reconfiguration and how topology optimization can be a win-win for the market by materially reducing or eliminating congestion on limited facilities on the grid within short lead times.  NewGrid, a firm that specializes in the deployment of reconfiguration services, will discuss the challenges and barriers to topology optimization and other grid-enhancing technologies (GETs) that can reduce basis risk.

Pablo Ruiz Co-founder CEO & CTO NewGrid

10:30 - 10:45 AM

Morning Break

10:45 - 11:15 AM

Scoping for Congestion Basis Studies

This discussion will cover a typical scope for congestion basis studies, including how certain key assumptions are determined and validated; typical results and outputs that a basis study should include; and, key observations on basis risk based on markets and technology.  nFront, a leading consultancy in the congestion assessment arena, will discuss best practices gleaned from many years of basis studies for renewable projects across the U.S. and technologies.

Neil Copeland Director – Transmission & Delivery nFront Consulting

11:15 AM - 12:15 PM

Roundtable Discussion

The subject matter experts will discuss the possible impacts on basis risk likely to flow from these U.S. initiatives enacted during the past year, including:

  • Inflation Reduction Act and Infrastructure Investment & Jobs Act
  • Other federal programs, initiatives and funding for transmission and grid-enhancing technologies
  • FERC mandate that transmission owners adopt AAR (ambient temperature dependent circuit ratings) by 2025
  • GETS initiatives
  • Costs and interest rates
  • Curtailment
  • Renewable energy wholesale market pricing
  • Contractual shifting of risk
  • For non-(ISO/RTO) market participating utilities or balancing areas, the counterpart to basis risk wheeling costs/charge(s)
  • FTRs

Neil Copeland Director – Transmission & Delivery nFront Consulting

Alexandra Miller Senior Director – Transmission Analytics & Policy EDF Renewables North America

Pablo Ruiz Co-founder, CEO and CTO NewGrid

Bruce Tsuchida Principal The Brattle Group

Nicholas Pratley Principal Pratley Group Energy Advisors

Speakers

Neil Copeland

Director – Transmission & Delivery
nFront Consulting

Alexandra Miller

Senior Director, Transmission Analytics & Policy
EDF Renewables

Nicholas Pratley

Principal
Pratley Group Energy Advisors

Pablo Ruiz

Co-founder, CEO and CTO
NewGrid

Toskiki (Bruce) Tsuchida

Principal
The Brattle Group

Continuing Education Credits

IACET

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EUCI is accredited by the International Accreditors for Continuing Education and Training (IACET) and offers IACET CEUs for its learning events that comply with the ANSI/IACET Continuing Education and Training Standard. IACET is recognized internationally as a standard development organization and accrediting body that promotes quality of continuing education and training.

EUCI is authorized by IACET to offer 0.9 CEUs for this event

Verify our IACET accreditation

Who recognizes IACET Credits?

 

Requirements for Successful Completion of Program

This program will use PowerPoint Presentations and group discussions. 

Instructional Methods

Participants must log in each day and be in attendance for the entirety of the event to be eligible for continuing education credit.

CPE

Upon successful completion of this event, program participants interested in receiving CPE credits will receive a certificate of completion.

Course CPE Credits: 11.0
There is no prerequisite for this Course.
Program field of study: Specialized Knowledge
Program Level: Basic
Delivery Method: Group Internet Based
Advanced Preparation: None

CpeEUCI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

CLE

Only registered attendees can request CLE credits for an EUCI course/event.  Please email [email protected] prior to the course start date and list the state where you are licensed and your bar# as well as the name and date of your course/event in your request, and someone will be in contact.

Who Should Attend

Representative Organizations

  • Renewable energy independent power producers (IPPs)
  • Renewable energy project sponsors and investors
  • Renewable energy project lenders
  • Load-serving entities (LSEs) and utilities
  • Local distribution companies (LDCs)
  • Merchant power ventures
  • Merchant transmission providers
  • Wholesale trading companies
  • Power marketers
  • Energy service providers/companies (ESPs/ESCOs)
  • Smart grid resource providers
  • Demand response providers/aggregators
  • Large energy customers
  • Consumer advocates
  • Regulatory counsel
  • State regulatory staff

Responsibilities

  • Origination
  • Valuation and project finance
  • Resource operations
  • Scheduling and forecasting
  • Asset management and optimization
  • Marketing and business development
  • Financial marketers
  • Power trading
  • Power supply analyst
  • Contract administrators and analysts
  • Energy management
  • Revenue assurance
  • Energy operations and supply
  • Retail load supply
  • Structured power
  • Bulk power
  • Energy finance and analysis
  • Confirmation administration