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On-Demand Training:
FTR Fundamentals & Best Practices

Recorded: April 23 - 24, 2026

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“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

Day two

Agenda

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

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 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.

Henry Chu

Senior 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.  

Tabatha Poelstra

Power Supply and Strategy Analyst

Dairyland Power Cooperative