CCRO Meeting Day 1: March 28th, 2018
Location both days:
Offices of WGL Energy,
8614 Westwood Center Drive, Suite 1200
Vienna, VA 22181
~ Afternoon & Evening March 28 ~
Risk Challenges from Renewables and Related Regulatory Policy
The day starts at 11:00 with a member arrival lunch, in meeting space. Once everyone is seated, Mike will get started...
Guest Speaker: Mike Gill, CFTC Chief of Staff
What does the 2018 agenda look like for the new CFTC?
Mike will walk through the details of how he sees the priorities for the CFTC in energy and host a Q&A session with members
Guest Speaker: Dale Rosenthal, a WGL Director
The Energy Company Board and the Risk Function
Dale will discuss some of the high-points of how she sees that a risk-aware Board may interact with a company’s risk function
2:00 Risk Topic Discussions Begin:
A series of deep-dives into specific risk challenges related to regulatory risks, particularly those linked to renewable energy and associated policies...Discussion hosts include:
Interplay of Generation Policy and the Operation of Wholesale Markets
- Today broad, fundamental issues create risks stemming from tensions between energy policy and generation. Coal, nuclear, DER, shale, all are creating challenges to risk management in ISO markets…
Coordinated Public Policy and Market Design at ISOs and Euro RTOs
- How are ISOs and Euro RTO groups coordinating renewables policies? What are the implications for CROs?
Risk Assessment & Quantification in the Age of Renewables
- How can a CRO fit renewables into an enterprise wide (ERM) risk framework?
- How can we address modelling issues of thermal assets vs renewables?
Introduction & Overview of RNG Today
- Discussion 101 on RNG, RFS, RINs
- The current commercial framework for renewable natgas
- RNG market fundamentals today
RNG, Strategy, and The Critical Role of the Risk Officer
Robert will present a deep dive into the implications of RNG and renewables generally for risk officers of today
• What factors are driving companies to consider RNG in their portfolio?
• What are the substantial technical challenges that remain for RNG?
• Why should Risk officers be engaged with internal renewables strategy assessments
Evening: CCRO Member & Guest Dinner
5:30 – 9:30
Cocktails at Sheraton
Dinner at Ruth's Chris
Thank you to our Advocate Member Sponsors:
CCRO Meeting Day 2: March 29th, 2018
~ Morning to Early Afternoon, March 29 ~
Discuss CCRO Initiatives; Retail Work Session
The day starts at 8:30 with coffee in the meeting space.
9:30 - CCRO Survey of Risk Management Practices
- Focused on Current Compliance Practice Findings
- The editing process for this comprehensive survey of risk practices is underway.
- Bob & Sid will draw-out this area of analysis from the survey findings to set the stage for today’s discussions around KRIs and compliance.
10:00 - Case example: The Emera Compliance Risk Register, KRIs, and Related Audit Committee Reporting
Tom will walk members through objectives and progress with their Compliance Risk Register…
- What was the desired objective that caused Emera to develop a Compliance Risk Register?
- What does a "Compliance Risk Register” encompass at Emera? Who is involved?
- What does the Audit Committee expect from the Compliance Risk Report?
10:45 - The Commission on Compliance: Application and Benchmarking of Compliance KRIs
- Examples of KRIs used in a compliance risk program.
- Major catagories for energy KRIs and examples for each
- Discussion on what compliance KRIs to use for benchmarking?
11:30 - KRI Benchmarking Data Results - Initiative Status and Our Best Way Forward to Expand
A CCRO database of Internal KRIs for benchmarking
Join in this on-going discussion to advance our efforts to define a set of KRIs for the trade area operational process, as well as create a statistical database for benchmarking them.
Don will be hosting a live demo of the on-line KRI viewer and results from data gathered thus far. This will be available to members remotely via our GoToMeeting session.
Over a dozen members have agreed to strive to contribute their own internal statistics on two KRIs so that we could prove the benchmarking concept. We will review our progress and discuss challenges that have been uncovered as members begin gathering these data.
General Meeting Closes after Lunch ~ 1:30
Following lunch, 1:30 ~ the participants in the retail project will host a working session...
RETAIL WORKING GROUP ~ WORKING SESSION
1:30 to 3:30
White paper drafting– Review, Open editing process, Delegations, Etc.
This CCRO working group has hosted over fourteen web discussions that have provided a huge amount of content for this comprehensive standards-setting initiative.
The group’s leadership team will be holding this in-person working session to advance their recent work and create even more traction for this year’s plans including:
- Latest edits and comments on the “Creation of Retail Risks” section
- How to improve on the “Mini-doc” editing process recently executed for first time
- Next section to be edited, and further schedule milestones
- Expanding REP company participation
- Engagement of regulators
- Events to host for 2018
The group wants to welcome all interested participants in this accelerating initiative to bring standards to risk management processes and procedures for the retail gas & power industries.
Please do let firstname.lastname@example.org know if you would like to join this worksession
Joe Pokalski, CFA,
Morgan Davies, Managing Director,
The Alliance Risk Group
Frank Caliva, President,
Bill Jordan, VP of Supply,
Scott Davis, Associate
The Alliance Risk Group
Amir Andani, CRO,
Jeff Borek, Director Strategic Analysis, WGL
Steve Brown, Dir Risk Management,
Sean Andrews, VP of Structuring,
Source Power & Gas
Freddy Cardozo, VP of Supply and Risk,
Minal Dalia, Power Cmdty Risk Mgr,
BP Energy Company
Michael Sergeev, President,
Christine Galaty, Head of Risk,
EDF Trading, NA