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What’s Up ? California Electric Generation Markets. Gary L. Hunt Managing Director.

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about henwood consulting
Henwood is a market leading energy technology and consulting firm based in Sacramento. Henwood’s power generation planning, market simulation and power plant performance optimization software are used by more than 130 of the world’s largest electric generators and utilities to manage their asset portfolio.

Henwood’s newest service, TermDesk is an energy buyer-focused gas and power origination service providing on-line energy auction and procurement services to assist buyers manage price risk and supply reliability.

Henwood Consulting provides strategic consulting and power market analysis services to clients worldwide focused on electric asset valuation, portfolio development, power market analysis and energy price risk management.

For more information contact:

Henwood Consulting

2710 Gateway Oaks Drive, Suite #300N

Sacramento, CA 95833

916-569-0985

www.hesinet.com

Gary L. Huntis Managing Director of Consulting for Henwood. He is an expert in electric power markets, industry restructuring and competitive strategy development. Gary has 25 years experience as a state public utility regulator, electric power executive and strategic consultant.

Gary served as Minnesota Deputy State Public Service Director and was chief of Staff at the Illinois Commerce Commission. He was CEO of MMWEC, a wholesale power producer in New England, Assistant City Manager for Utilities in Austin, Texas, and Assistant General Manager-Operations at EBMUD.

Before joining Henwood, he was Director of Electric Power at Cambridge Energy Research Associates and was a Principal in the Utility Economics Practice of Standard & Poor’s.

Gary Hunt

916-569-0985, ext # 341

ghunt@hesinet.com

About Henwood Consulting
forces reshaping the competitive energy markets
Forces Reshaping the Competitive Energy Markets
  • Consolidation
  • Tight supply
  • Slow growth
  • Low share price
  • Valuation
  • B2B models
  • Internet
before electric restructuring
Before Electric Restructuring

Rates set by the CPUC based upon capital invested

Rates “averaged” masking true price volatility.

Non-utility generators offered to build power plants at prices lower than utilities’ proposed new projects.

No major generation additions since 1980’s.

after electric restructuring
After Electric Restructuring
  • Utilities divested most generating assets
  • Utilities as “buyers” in the marketplace.
  • Prices not “average cost” over long periods of times
  • Tight Supply/Demand balances
  • Lead to price spike volatility
wscc electric power markets by the numbers
WSCC Electric Power Markets by the numbers

160,000 MW installed capacity

60,000 MW of PNW Hydro

130,000 MW current peak load

1.9% electric load growth

9,000 MW new power plant construction

50,000+ MW of announced new plant

wildcards
Wildcards

Nuclear retirements

Hydropower output

1999 124% of normal

2000 92% of normal

Continued Economic Expansion

Power Plant Construction Schedules

competitive power market evolution
Competitive Power Market Evolution

Rational markets will evolveover the next couple of years as new plants are brought on line.

Peak hour prices will still to be volatilebut the number of hours, and the magnitude will be mitigated during normal conditions.

Expect new electric products to evolveto help consumers manage price risk and meet different interests of consumers (retail and wholesale)