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Introduction to Regional Wholesale Electricity Markets – RTOs and ISOs

January 20 - 21, 2027 Online :: Central Time

“Definitely helped put all the terms and information I heard and knew about and put it together in a more structured and organized way.”

Manager of Organized Markets, Policy and Support, Arizona Public Service

“This course helped me understand the relationship between generation, transmission, distribution, and load with respect to the different types of energy markets.”

Client Representative, MISO

“This class was a great interactive and in-depth opportunity to learn industry knowledge from actual industry leaders.”

Registration Specialist II, MISO
Read more testimonials

“I was happy with the knowledge I was able to gain from the course.”

Office Manager, Key Capture Energy

“A great opportunity for starters in the Whole Electricity Markets; an opportunity for intermediates to reinforce knowledge.”

Energy Settlement Analyst, Ente Operador Regional

Wholesale electricity markets play a significant role in coordinating generation, transmission, and electricity demand across large geographic regions. Understanding how these markets function is important for anyone working with electric utilities, generators, transmission, energy trading, regulatory issues, or other aspects of the evolving power industry.

This course provides a practical introduction to the structure and operation of regional wholesale electricity markets, with an emphasis on the role of Regional Transmission Organizations (RTOs) and Independent System Operators (ISOs). Participants will build a foundation in power system fundamentals before examining how RTOs and ISOs coordinate generation and transmission resources, establish wholesale electricity prices, and operate day-ahead and real-time markets. The course will also examine locational marginal pricing (LMP), economic dispatch, unit commitment, transmission congestion, financial transmission rights, capacity markets, and ancillary services.

Register today to gain the daily knowledge you need about wholesale electricity markets and the roles of RTOs and ISOs.

Learning Outcomes

  • Explain the purpose, structure, and primary functions of RTOs and ISOs. 
  • Explain how day-ahead and real-time wholesale electricity markets operate and how economic dispatch, unit commitment, and security-constrained dispatch are used to coordinate generation resources. 
  • Explore locational marginal pricing and the impact of energy, transmission congestion, and losses on wholesale electricity prices. 
  • Discuss the roles of capacity markets and ancillary services in maintaining resource adequacy and grid reliability. 
  • Describe how generators and loads participate in organized wholesale markets, including bidding, offers, and operating parameters. 
  • Explain the basic process for RTO/ISO financial settlement and credit requirements. 
  • Identify key sources of risk in wholesale electricity markets and describe financial and market-based tools used to manage those risks. 
  • Compare major market structures and products offered by U.S. RTOs and ISOs

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:

Individual attendee(s)$ 1295.00 each(early bird rate)
(price after January 8, 2027 is $ 1,495.00)
Volume pricing also available

Individual attendee tickets can be mixed with ticket packs for complete flexibility

Pack of 5 attendees$ 5,500.00 (15% discount)(early bird rate)
(price after January 8, 2027 is $ 6,350.00)
Pack of 10 attendees$ 10,360.00 (20% discount)(early bird rate)
(price after January 8, 2027 is $ 11,960.00)
Pack of 20 attendees$ 19,425.00 (25% discount)(early bird rate)
(price after January 8, 2027 is $ 22,425.00)

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 December 18, 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, January 20, 2027

Day two

Thursday, January 21, 2027

Agenda

Wednesday, January 20, 2027
Central Time

Online

Log In & Welcome

8:45 AM

Lunch Break

12:00 - 1:00 PM

Adjourn for the day

5:00 PM

8:45 AM - 9:00 AM

Log In & Welcome

9:00 - 10:30 AM

Foundations of the Electric Power System

  • Fundamental concepts, terminology, and units used in the electric power industry 
  • Flow of electricity from generation through transmission and distribution to the end-use customer 
  • Overview of major generation technologies and their operating characteristics 
  • Heat rate, capacity factor, capital costs, and other key generation economics 
  • Understanding electric load and demand patterns 
  • Load duration curves and load factor 
  • Demand response and its role in balancing supply and demand 
  • Power system losses and their impact on system operations 
  • Introduction to the U.S. regulatory framework 
  • Roles of FERC and state regulatory authorities 
10:30 - 10:45 AM

Morning Break

10:45 AM - 12:00 PM

Development and Role of RTOs and ISOs

  • Why regional coordination is necessary in wholesale electricity markets 
  • Balancing electricity supply and demand in real time 
  • Wholesale electricity pricing and sources of price volatility 
  • Bilateral transactions versus organized wholesale markets 
  • Core responsibilities and functions of RTOs and ISOs 
  • Why RTOs and ISOs were established and how their roles have evolved 
  • Participation in organized markets: opportunities, benefits, and considerations 
  • Interaction among RTOs/ISOs, market participants, FERC, and state regulators 
  • Key differences in the organization and operation of U.S. regional markets 
12:00 - 1:00 PM

Lunch Break

1:00 - 2:00 PM

Locational Marginal Pricing (LMP)

  • Why electricity prices vary by location 
  • Components of locational marginal price: energy, congestion, and losses 
  • How LMP is calculated and applied 
  • Nodal, hub, and zonal pricing concepts 
  • How transmission constraints influence wholesale electricity prices 
  • Using LMP to understand market outcomes 
2:00 - 3:15 PM

From Bids to Dispatch: Operating the Regional Wholesale Market

  • How generation resources are selected for operation 
  • Economic dispatch and the merit-order principle 
  • Unit commitment and resource scheduling 
  • Security-constrained economic dispatch 
  • Day-ahead market processes and outcomes 
  • Real-time market operations and dispatch 
  • Scheduling generation and load 
  • Managing transmission congestion and system losses 
  • Financial transmission rights and congestion hedging
  • Coordination of generation and transmission resources 
  • Roles of generators, load-serving entities, traders, transmission owners, and other market participants 
3:15 - 3:30 PM

Afternoon Break

3:30 - 4:30 PM

Energy, Capacity, and Ancillary Services Markets

  • The relationship between energy markets and resource adequacy 
  • Purpose and structure of capacity markets 
  • Capacity procurement and obligations 
  • Ancillary services and their role in maintaining grid reliability 
  • Responsibilities for providing and procuring ancillary services 
  • Regulation and operating reserves 
  • Spinning and non-spinning reserves 
  • How energy, capacity, and ancillary services markets interact 
  • Comparison of market products and structures across U.S. RTOs and ISOs 
4:30 - 5:00 PM

Emerging Market Issues and Q&A

  • Impacts of renewable generation and changing resource mixes 
  • Growing role of energy storage 
  • Evolving approaches to resource adequacy and reliability 
  • Market challenges associated with changing system conditions 
  • Q&A 

Agenda

Thursday, January 21, 2027
Central Time

Online

Log In

8:45 AM

Adjourn for the day

12:00 PM

8:45 AM - 9:00 AM

Log In

9:00 - 10:30 AM

Market Participation: Offers, Bids, and Financial Settlement

  • How generators and loads participate in organized wholesale markets 
  • Generator and load offer strategies 
  • Bid and offer curves 
  • Understanding three-part bids 
  • Generator operating limits and dispatch parameters 
  • Capacity ranges, variable costs, start-up costs, and no-load costs 
  • Ramp rates and their importance to market dispatch 
  • How operating characteristics influence market participation 
  • Overview of RTO/ISO market settlements 
  • Understanding the financial flow from market transactions to settlement 
10:30 - 10:45 AM

Morning Break

10:45 AM - 12:00 PM

Managing Wholesale Market Risk

  • Sources of financial and operational risk in organized electricity markets 
  • Exposure to real-time price volatility 
  • Managing differences between day-ahead and real-time market outcomes 
  • Bilateral market exposure and risk 
  • Virtual transactions and their role in wholesale markets 
  • Options, futures, swaps, and other financial hedging instruments 
  • Credit requirements and collateral considerations in RTO/ISO markets 
  • How market participants evaluate and manage wholesale market exposure 

Instructor

Joan Soller, PE

Vice President

Pareto Advisors, LLC

Joan Soller, PE, is the Vice President of Pareto Advisors, LLC. As a licensed Professional Engineer, she possesses extensive experience in electric utility engineering, operations, wholesale markets, regulatory support, resource planning, and stakeholder engagement. Joan is uniquely positioned to provide strategic leadership by drawing upon her diverse background across multiple industry sectors, including investor-owned and cooperative utilities, Regional Transmission Organizations (RTOs), and consumer advocacy. Her expertise includes risk mitigation, transmission and distribution operations, and compliance, supported by a deep understanding of FERC, NERC, and state retail regulatory frameworks. She also served as an active contributor on the ReliabilityFirst Board of Directors. Joan holds a Bachelor of Electrical Engineering from the University of Dayton and a Master of Business Administration from the University of Indianapolis. Her commitment to community service includes previous non-profit board positions at WFYI and Coburn Place Safe Haven; she currently serves on the board of the Community Foundation of Boone County and the Women and Hi-Tech organization. 

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

Participants must sign in/out each day, be in attendance for the entirety of the course.

Instructional Methods

PowerPoint presentations and open discussion will be used

CPEs

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

  • RTO/ISO Market Participant Analyst
  • Wholesale Market Analyst
  • Wholesales Market Manager
  • Power Trader
  • Energy Storage Market Analyst
  • Market Operations Manager
  • Energy/Power Scheduler
  • Transmission Planning Specialist
  • Energy Portfolio Manager
  • Generation Asset Manager
  • Power Supply Analyst
  • Energy Risk/Resource Adequacy Manager
  • Electric Markets Operations Specialist
  • Power Systems Engineer
  • Market Settlements Manager