





                                                                  July 11, 2014

                        Western Power Issues Roundtable
                            Friday, August 1, 2014
                          Offices of Skadden Arps LLP
                             700 14[th] St., N.W.
                              Washington DC 20005
                       Room 11-AB; 9 a.m.  -  3:00 p.m.
                                       
The Western Power Trading Forum (WPTF) will conduct once again a roundtable on Western Power Issues for the benefit of the trade group members and invited industry guests. The roundtable format has proven highly successful in airing what otherwise are complex issues in a collegial fashion that allow participants to ask questions and engage in meaningful dialogue. This session will have three broad topics:
   * CAISO's Fifteen Minute Market: As Planned or Unintended Consequences?
   * EPA's Proposed Carbon Rules -- Fragmenting Electricity Markets?
   * Electricity/Gas Coordination in the West

Our roundtable format has been well received and the attendees tell me they learn more in a few hours than they ever thought possible.  The agenda for the August 1 meeting found on page 3, below, will encourage lively discussions.  A lunch will be hosted by WPTF, and a reception will be held immediately following the roundtable hosted by Skadden Arps and WPTF.   I look forward to seeing you there.

Sincerely,


Gary B. Ackerman
Executive Director
                             Invited Participants
 * designates confirmed participant or observer
Industry Guests

*Jeb Stenhouse, EPA
*Professor Ben Hobbs, Johns Hopkins
*Scott Harvey, FTI Consulting
*Brad Bouillon, CAISO
*Brad Cooper, CAISO
*Ellen Wolfe, Resero Consulting
*Clare Breidenich, WPTF

FERC Staff

*Arnie Quinn
*Steve Rodgers


WPTF Member Participants

*John Estes, Skadden Arps
*Harry Singh, Goldman Sachs
*Peter Colussy, Xcel Energy
*Bruce Bleiweis, DC Energy
*Sarah Novasel, Calpine
*Brian Theaker, NRG
*Michael Evans, Shell 
*Laura Beane, Iberdrola
*Dede Hapner, PG&E
*Mel Christopher, PG&E
*Mason Emnett, NextEra
*Adam Raphaely, Noble Americas
*Randy Cullison, Tenaska
*Steve Huhman, Morgan Stanley
*Ron Moulton, WAPA
*Steve Eckert, Brookfield
*Michael MacDougall, Powerex
*John Fulkerson, PGE
*Paul Borkovich, SoCalGas
*Chris Bursaw, Capital Power
*Greg Wetstone, Terra-Gen
*Andre Templeman, for LS Power
*David Francis, EDF Trading
*Mary Lynch, Exelon/Constellation
*Braydon Boulanger, TransAlta
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Partial List of Invited Observers

*Jamie Simler, FERC
*Scott Miller, FERC
*Len Tao, FERC
*Sandra Waldstein, FERC
*Terence Burke, FERC
*Patricia Schaub, FERC
*Jette Gebhart, FERC
*Robin Lunt, FERC
*Heidi Werntz, FERC
*Elizabeth Arnold, FERC
*Christina Hayes, FERC
*John Shepherd, Skadden Arps
*Joel Newton, NextEra
*Andrew Sharer, NRG
*Taylor Roye, NRG
*Joe Cavicchi, Capital Power
*Joanna Perry, Capital Power
*Mark Bryfogle, Consultant
*Mihai Cosman, Exelon
*Mike McElhany, WAPA
*Susan Pope, FTI Consulting
*Melissa Mitchell, EPSA
*Andrew Ulmer, CAISO
*Terri Moreland, CAISO
*Julia Berg, Deloitte Services LP
*Jay Carriere, Berkshire Hathaway



                                      AGENDA
Unless noted otherwise, speakers will be allotted five minutes for their remarks to help frame the issue, and there will be facilitated discussion for each panel's balance of time. 

9:00 a.m. Opening Remarks (Meeting in Room 11-AB) 

9:15 a.m. First Panel: Fifteen Minute Market: As Planned or Unintended Consequences? 
Last May the CAISO inaugurated a new Fifteen Minute Market (FMM) to comply with FERC Order 764 on sub-hourly scheduling.  The early results have elicited a swarm of comments from market participants that the FFM prices are too unpredictable and yield counter-intuitive results.  Many importers are eschewing the FMM.   Did the introduction of a new market between the day-ahead and real-time transactions impart too much complexity and unintended consequences.  The panelists will be: Ellen Wolfe, Resero ... Laura Beane, Iberdrola ... Mike MacDougall, Powerex ... Brad Cooper, CAISO.

10:30 a.m. Second Panel: EPA's Proposed Carbon Rules -- Fragmenting Electricity Markets? 
U.S. EPA's proposed carbon rule for existing electric generators provides significant flexibility to individual states in how they meet their emission targets. We are already seeing the impact of California's carbon regulations on electricity markets throughout the West; the possibility of multiple states imposing different carbon regulations creates even more uncertainty and complexity for companies that transact in multiple markets. The panelists for this session will be: Clare Breidenich, WPTF ... Jeb Stenhouse, U.S. EPA ... Peter Colussy, Xcel.

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12:00 p.m.: Hosted Lunch 
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	Keynote Speaker: John Estes III: Update on Power Industry Trends

1:00 p.m. Third Panel: Electricity/Gas Coordination in the West

Scheduling practices for natural gas rest upon the timelines employed by different balancing authorities and gas pipelines.  Under normal operating conditions the coordination is seamless.  However, extremely cold days have caused disruptions in the natural gas pipeline system, and ensuing power plant curtailments. The promise of greater dependence on renewable energy also leads to greater dependence on natural-gas generation for swing capacity in order to maintain grid reliability.  How are the grid operators in the West handling these issues?  Panelists will be: Mel Christopher, PG&E  ... Brad Bouillon, CAISO  ... Paul Borkovich, SoCalGas.

2:30 p.m. Participants: The Most Important Thing I Learned Today and Adjourn

3:00 p.m. Reception hosted by WPTF (In Room 11-311)
