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FTR Fundamentals & Best Practices

Managing Congestion Risk in ISOs/RTOs

April 23 - 24, 2026 Online :: Central Time

“The method of delivery was like being in a very targeted lecture and I feel more confident about my understanding of the topics covered in the training!”

Economist, Federal Energy Regulatory Commission (FERC)

“An eye opener for someone new to the industry.”

Consultant, FTI Consulting

“A great course to get a first approach to the U.S. FTR Markets fundamentals and its best practices. Many ideas from this course will help the ongoing reformation on the FTR's regulatory framework in the Regional Electricity Market (MER in spanish) in Central America.”

Analista de Derechos de Transmision, Ente Operador Regional (El Salvador)

This course will explain the key concepts of financial transmission (FTRs) and congestion revenue rights (CRRs) and their operation in nodal electricity markets.  The general principles underlying the allocation and auction processes for buying and selling FTRs/CRRs will be examined.  There will also be an overview of how all the North American ISOs implement their FTR/CRR and congestion-based mechanisms, including the different terms assigned to similar functions. The financial impacts of these structural elements will be illustrated with examples of scenarios from the varying perspectives of market participants who engage in FTR/CRR transactions to serve as load-serving hedges vs those who trade them as financial (speculative) instruments.

Learning Outcomes

  • Analyze the purpose and components of FTRs and the motivation for nodal electricity markets
  • Review congestion and LMP concepts – why do we need an FTR/CRR product
  • Discuss where congestion comes from
  • Identify why there is a price difference between load and generator?
  • Review the process for FTR auctions and ARR allocations
  • Compare and contrast different ISO implementations of FTRs
  • Assess the decision process for both hedging and speculative market participants
  • Review current hot topics with FTRs

Register

This is a recorded session - no instructor interaction is available. Recordings do not qualify for continuing education credits. Recordings will expire 30 days from date of purchase and sharing, downloading or copying of the recording in any way is strictly prohibited and will result in the termination of your license.

PURCHASE THIS RECORDING:

Recording license(s)$ 1295.00 each
Day one

Thursday, April 23, 2026

Day two

Friday, April 24, 2026

Agenda

Thursday, April 23, 2026
Central Time

Online

Log In and Welcome

8:45 AM

Lunch Break

12:15 - 1:00 PM

Adjourn for the day

4:30 PM

8:45 AM - 9:00 AM

Log In and Welcome

9:00 - 9:15 AM

Overview & Introductions

9:15 - 10:15 AM

LMP Pricing – Source of Congestion

10:15 - 10:30 AM

Morning Break

10:30 AM - 12:15 PM

Congestion Management

  • Flowgate
  • Shift factors
  • Binding constraints
  • Shadow pricing
  • Line outage distribution factors
12:15 - 1:00 PM

Lunch Break

1:00 - 1:30 PM

Congestion Funding

  • Congestion revenue
  • FTR funding shortfall
1:30 - 2:30 PM

FTR Market

  • ARR
  • FTR
2:45 - 3:00 PM

Afternoon Break

3:00 - 3:30 PM

Market Participant Objectives

3:30 - 4:30 PM

Congestion Monitoring

4:45 PM

Course Adjourns for the Day

Agenda

Friday, April 24, 2026
Central Time

Online

Log In

8:45 AM

Adjourn for the day

12:15 PM

8:45 AM - 9:00 AM

Log In

9:00 - 10:00 AM

FTR Strategies

10:00 - 10:30 AM

FTR Trader/Analyst Role Day and Life

10:30 - 11:00 AM

FERC Fines Related to FTR

11:00 - 11:15 AM

Morning Break

11:15 AM - 12:15 PM

FTR Settlements

12:30 PM

Course Adjourns

Instructors

Henry Chu

Senior Analyst

Dairyland Power Cooperative

Henry Chu is a senior analyst at Dairyland Power Cooperative, which he joined in 2022.  Over his 30-plus year career in the utility/energy industry, he has spent a majority of that time in settlements.  Mr. Chu started at BC Hydro and its marketing arm POWEREX.  While there, he recovered several million dollars in disputes with CAISO.  In 2003, he joined the Midcontinent ISO (MISO) where he worked in various positions, formalizing the market settlement training at the system operator as well as in support for the integration of four Southern States.  Mr. Chu was also Senior RTO/ISO Energy Market Analyst at Entergy, where he spent 6 ½ years.  Before joining Dairyland, he served as Lead Product Manager at Power Settlements, a software and consulting company.

Tabatha Poelstra

Power Supply and Strategy Analyst

Dairyland Power Cooperative

Tabatha Poelstra is a Market Design and Policy Analyst for Dairyland Power Cooperative. Prior to her time at Dairyland, she worked as an analyst doing FTR trading and speculative analysis for Appian Way Energy Partners. Ms. Poelstra began her career as a surveillance analyst with the Office of Enforcement at FERC. Her work has spanned all RTOs and non-RTO markets in the United States, specializing in risk assessment and price interactions. In addition to her experience in investigative procedures and pricing models, she has held RTO basics trainings for diverse groups, including foreign dignitaries and the Harvard Kennedy School. Ms. Poelstra holds degrees in mathematics and economics from American University.  

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 1.0 CEUs for this event

Verify our IACET accreditation

 

Who recognizes IACET Credits?

 

Requirements for Successful Completion of Program

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

Instructional Methods

Case studies and PowerPoint presentations will be used in this program.

CPE

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

Course CPE Credits: 12.0
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

This program will appeal to professionals and support staff who support the following functions relating to ISO/RTO market transactions:

  • FTR Market participants
    • Energy traders
    • Load
    • Generators
  • Transmission owners and operators
  • Transmission and congestion management
  • Market, transmission and energy clearing settlements
  • Asset and portfolio management
  • Back office
  • Operations accounting
  • RTO/ISO accounting
  • Market management
  • Business controls
  • Commercial operations
  • Transaction accounting
  • Power management and marketing
  • Credit
  • Finance
  • Financial analysis