Workshop: Wednesday, June 10
8:30 Introduction: What it means to put a price on pollution
8:45 Module 1: Conventional SO2 & NOx market basics
• Command and control (and its return in SO2 &
NOx markets)
• The cap-and-trade precedent: lessons learned thus far
9:15 Module 2: Conventional market fundamentals –
what’s happening in SO2 & NOx markets
• Credit-based systems
• Offsets
• US Acid Rain Program
• OTC and SIP NOx markets
• RECLAIM
• Proposed successor programs (CAIR, CAMR, and
their legal issues)
10:15 Morning break & networking
10:30 Module 3: Emissions trading simulation
• Hands-on, computer-based team exercise
12:30 Lunch & networking
1:30 Module 4: Emerging market GHG basics
• How a carbon price will re-shape world economies
• Earth Summit and the UNFCCC
• Kyoto Protocol
• Subsequent accords and the prospects for Kyoto
Post-2012
2:15 Module 5: Emerging market fundamentals – what’s
happening in GHG emissions markets
• EU ETS developments
• International offset markets (JI and CDM)
• US – Federal regulatory discussions
• US – regional market formation (RGGI, WCI, etc.)
• Voluntary programs (Chicago Climate Exchange,
Gold Standard and others)
3:15 Afternoon break & networking
3:30 Module 6: The business of Trading I –
emission contracts
• Master allowance agreement
• Key elements of a GHG contract
4:15 Module 7: The business of Trading II – portfolio
risk management basics
• Basic terminology
• A brief introduction to options
About the workshop speakers
Thaddeus Huetteman is President of Power & Energy Analytic Resources, (PEAR) Inc., a corporation providing expert advisory services and technical support to companies seeking to manage environmental risks in deregulated electricity markets. His company publishes Allowance Market Outlooks covering the trading of SO2, NOx, and mercury in the U.S., as well as CO2 across regional and global markets. Mr. Huetteman has extensive experience in the area of emissions credit trading, ranging from modeling allowance market conditions to strategies for improving operational cost competitiveness and was involved in efforts to formulate EPA's model NOx trading rule for implementation of the Agency's rules on transport of ozone to non-attainment areas. He has also completed a number of due diligence efforts for energy asset acquisitions both in the U.S. and Europe. Prior to founding PEAR, Inc., Mr. Huetteman was Vice President in EDS's Management Consulting Services group, responsible for its strategic fuel management program and power markets practice. From 1986-1989, Mr. Huetteman was Director of DRI/McGraw-Hill's Coal Service. Prior to that, he was a Regulatory Impact Analyst with the U.S. Environmental Protection Agency in the Energy Policy Division. Mr. Huetteman currently serves as the Chairman on the Environmental Markets Association.
Gary Payne is an Emissions Trader Dominion Energy Clearinghouse. Headquartered in Richmond, Va., Dominion Energy Clearinghouse is the energy trading and marketing operation of Dominion (NYSE: D), one of the largest energy marketers in North America. Mr. Payne, who joined Dominion in September 2002, is responsible for managing Dominion's portfolio of emission commodities, and serves as company consultant on issues surrounding emissions trading. Prior to joining Dominion, Mr. Payne held positions in emissions and energy trading at Aquila Energy, Kansas City, Missouri, and Koch Energy Trading, Houston Texas. Mr. Payne also worked in energy marketing for Illinova Power marketing in Salt lake City, Utah. Mr. Payne holds a Bachelors Degree in Sociology from Brigham Young University, and a Master of Business Administration from the University of Utah, Salt Lake City.
About the workshop sponsor
The Environmental Markets Association (EMA) is the premiere trade association for environmental
industry professionals who are active or interested in market-based solutions to combat pollution and create
a sustainable environment. The EMA’s members are the most knowledgeable and experienced individuals who are
making environmental markets work. They include brokers, traders, consultants, academics, non-governmental
organizations, government agencies and the founders of emissions trading. The EMA is a 501(c) 6 not-for-profit
organization that serves its membership through education and networking.
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