Education Professional Development Networking

February 2017 credit conference

SANTA BARBARa February 8-10, 2017

north american power credit organization

February 2017 credit conference A GU IDE TO PLANNING YOUR TRIP

north american power credit organization

BOOK HOTEL 1

THE SANTA BARBARA INN www.santabarbarainn.com

Discounted room rate: $229 per night*

Deadline: January 20, 2017

Reservations by Telephone: 1-805-966-2285

Please mention group code “NAPCO”

*Rate is available 3 days pre- and post-conference, subject to availability.

Flight reservation 2

The recently renovated charming Santa Barbara Airport offers multiple daily non-stop flights from seven major hubs. It is a short 8 miles drive north of downtown. Alaska Airlines, American Airlines, and United Airlines service the airport with non-stop service from San Francisco, Los Angeles, Phoenix, Denver, Portland, Seattle and Dallas.

Other airports that are in close proximity: Los Angeles International Airport (90 miles) or the Bob Hope Burbank Airport (100 miles), or for a more regional smaller airport, the Santa Maria Public Airport (61 miles).

REGISTER for event An affordable option for providing first-rate educational training for you and your staff, while also taking advantage of NAPCO's casual networking! Early registration rate for members is $325.00.

Register by January 20, 2017 to take advantage of early registration savings!

Plan an adventure 4

With history, culture, and beauty around every corner of the city – from the architecture landmarks like the Santa Barbara Mission and the Santa Barbara County Courthouse to Santa Barbara’s contemporary side at the Funk Zone with artisan shops, wine tasting rooms and restaurants – there is so much to see and do! You’ll want to extend your stay and plan an adventure (or two). For more inspiration about planning your trip visit: http://santabarbaraca.com/

Attend conference* 5

Take in our top-notch educational program while enjoying time spent with your peers. NAPCO’s conference format offers a relaxed and positive environment to learn, network, and connect – all while spending time in a beautiful city and location!

*Conference starts with a “Welcome Reception” on the evening of February 8 at 6:00 pm.

Thursday night, February 9:

(optional) Wine tasting event

& Networking Dinner

zone| funk zone| funk zone| funk zone| funk zone| funk zone| funk zone| funk zone | funk z

…a storied area located between the Pacific Ocean and Highway 101 that is home to artisanal restaurants, wine-tasting rooms, award-winning craft breweries, distilleries, and tucked-away galleries and vintage stores in converted warehouses

and buildings decorated with graffiti murals…

The Particulars:

6:00 pm to 7:00 pm Take in an optional wine tasting

at the Santa Barbara Wine

Collective [$40/person optional fee for wine-

minded people, see the registration form]

7:00 pm to 9:00 pm Enjoy a five-star dinner with farm-to-

table ingredients at The Lark

[included in the cost of registration]

February 2017 credit conference Program agenda

north american power credit organization

The goal of this session is to highlight the basics of letters of credit, including common types, key provisions, and practical considerations when utilizing letters of credit as collateral in commodity trading agreements. Learning Objectives (B): Highlight the basics provisions and types of letters of credit as well as examining the application of letters of credit as a form of collateral.

Credit agency ratings: We work with them almost every day, but what do some of the rating symbols mean? This presentation will provide an overview of Moody’s rating symbols and definitions – from short term, long-term, unsecured, issuer and corporate family ratings. Learning Objectives (B): Examine which each rating symbol represents in providing guidance to credit quality.

With the increasing speed of change, pressure to do more with less, and expanding oversight of risk professionals, many of us wrestle with the invisible gorillas – the risks you can't see. These are the risks that keep us up at night and make us question what's possible. Facilitated by Louise Waterhouse of NGX and Annette Sturgill of Avangrid, Part I of this working session will provide an opportunity to discuss these risks as a group and the ways in which we can address them. To help guide us with choosing topics/risks that are most pertinent to you, please take our short survey (page 5 of the agenda) in advance of the meeting.

Your role in credit has become a juggling act of various competing tasks – one of which is the need to evaluate the financial profile of your counterparties, providing both quantifiable and qualitative analysis of their financials. However, your day never seems to be long enough to get through it all. This session will provide tips on how you can do this analysis in a short amount of time and what are “the essentials” to keep in mind when evaluating your counterparties. Learning Objectives (B/I): Examine an effective and time efficient means for evaluating counterparties.

Roseville Electric Utility is implementing a pilot program to use Potential Future Exposure (PFE) to optimize awards of natural gas and electricity hedges. The presentation will give a brief overview of PFE concepts and Roseville’s term trading process. It will then discuss how Roseville is using PFE to award trades to the lowest cost bidders while taking into account potential credit exposure. Learning Objectives: Explore a practical application of using PFE for term trading decisions.

In 2002, the State of California passed legislation that permits local agencies to form Community Choice Aggregation (CCA) programs which enable local governments to aggregate electricity demand within their jurisdictions in order to procure electricity for its customers while maintaining the existing electricity provider, PG&E, for customer billing, transmission and distribution services. This session will highlight the credit and risk related issues surrounding this relatively new concept.

9 : 4 5 a m to 1 0 : 4 5 a m

2 Moody’s rating symbols overview Cl i fford k im, Moody’ s inve stors s e rv ic e

1 : 0 0 p m t o 2 : 0 0 p m

4 The “nitty gritty” of credit Reviews Rache l R e i senauer , rmg f i nanc ia l

1 1 : 0 0 a m t o 1 2 : 0 0 p m

3 “ Invisible Gorillas” an i nte ract ive roundtable working session

8 : 3 0 a m to 9 : 3 0 a m

1 The “Nuts and bolts” of letters of credit Kev i n Page , Tenaska

3 : 3 0 p m t o 4 : 3 0 p m

6 Community choice aggregation Deb Eme rson, Sonoma c lean power

2 : 3 0 p m t o 3 : 3 0 p m

5 using pfe for term trading decisions todd white , Ros ev i l le e l ectr ic ut i l i ty

7 : 3 0 a m to 8 : 3 0 a m Breakfast & reg i strat ion (Montec ito room)

1 2 : 0 0 p m t o 1 : 0 0 p m network i ng lunch (Montec ito room)

7 : 3 0 a m to 8 : 3 0 a m Breakfast & reg i strat ion (Montec ito room)

…Night on the town – wine tasting & networking dinner!

February 2017 credit conference Program agenda

north american power credit organization

A continuation from Thursday’s session: we’ve identified the “invisible gorillas” and have had a chance to discuss them in detail as a working group over the last day. Part II of this working session will be spent sharing what was discussed and the proposed ways in which we can address the risks. Learning Objectives of Two Part Session (B/I): Recognize and examine known and unknown risks and collectively share how each may be approached.

To be announced….

NAPCO reserves the right to alter this program without prior notice. Please note that the opinions of the speakers are entirely their own and do not necessarily represent those of NAPCO, RMG Financial, or the Host Company. NAPCO reserves the right to alter this program without prior notice. Please note that the opinions of the speakers are entirely their own and do not necessarily represent those of NAPCO or RMG Financial. Any meeting related complaints should be directed to the acting NAPCO Chairperson for prompt action and resolution. NAPCO is a member run organization. All complaints will be addressed at the discretion of the NAPCO Executive Committee. NAPCO Chairperson: Robin Griffin of Tennessee Valley Authority at (865) 632-2636 or crgriffin@tva.gov

C o n t i n u i n g E d u c a t i o n C r e d i t s NAPCO is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

CPE CREDITS: Earn up to 10.0 CPE. Upon completion of this meeting, participants interested in receiving CPE credits will receive a certificate of completion. Participants must be in attendance for the entirety of the conference to be eligible for the full amount of CPE Credits.

Delivery Method: Group Live Prerequisites and Preparation: No perquisites or advanced preparation are required for the seminars. Program Level: Basic (B) to Intermediate (I), unless otherwise noted in the Program Agenda below. Programs: Specialized Knowledge and Applications

1 0 : 3 0 a m t o 1 1 : 3 0 a m

8 Credit / Risk Framework Ernst & YOUNG

9 : 0 0 a m t o 1 0 : 1 5 a m

7 “ Invisible Gorillas” an i nte ract ive roundtable working session (continued)

7 : 3 0 a m to 9 : 0 0 a m Breakfast (Montec ito room)

Conference is adjourned – enjoy your trip & explore santa Barbara!

Register by January 20 for early registration savings

February 2017 credit conference “ inv is ible gorillas” attendee survey

 

 

north american power credit organization

Return by fax: 240‐238‐2616 or email: reisenauer@rmgfinancial.com

  

In preparation for the Santa Barbara NAPCO conference and to help guide us on what is most pertinent to you, we’d like to hear from you on the areas of risk you are most concerned about.  Please feel free to provide as many answers and comments as you feel appropriate in the space below.  In order to give us enough time, please return survey by January 20, 2016.  

Attendee Name: ___________________________  

   

   

   

   

   

 

 

What is the one r i sk you and your team(s) have the most d i ff iculty understand ing? 1

 

What is the r i sk you feel i s hardest to measure? 2

 

What are the r isk top ics most concern ing your board / rmc these days? 3

 

What are the key r isks that keep you awake at n ight? 5

 

What tools do you use today that could/are be ing expanded to other non-cred it focus areas? 4

Please return survey by January 20, 2016

February 2017 credit conference Reg istration form

north american power credit organization

Attendee Name

Preferred Name

Company

Job Title

Work Phone Cell Phone*

Email

City/State *Cell phone will only be used in the event of an emergency and will not be published/distributed.

The attendee registration fee, as noted below, include Thursday and Friday breakfasts, meeting refreshments, Thursday lunch and related charges for the meeting space as well as dinner and cost of admittance for the Thursday night group networking dinner. In planning our menus, we will do our best to accommodate any dietary restrictions; please help us by providing any specific dietary restrictions or allergies below:

Gluten-free Kosher Vegan Other (specify): Allergic to (specify):

Registration Fee Level

Early Registration (by January 20)

Regular Registration (after January 20)

Member Rate [1] USD $325.00 USD $350.00 Non-Member [2] USD $725.00 USD $750.00 Guest Fee [3] USD $90.00 USD $90.00 Guest Name: Wine Tasting at the Funk Zone (Optional) USD $40.00

Total Amount Due USD $

[1] Your company must be a calendar year 2017 member at the time of registration in order to qualify for the member registration fee. NAPCO memberships are based upon annual dues and are company-wide, covering all employees for all events throughout the year. See attached form.

[2] Non-members are charged an additional USD $400 per attendee (which is included in the Non-Member Registration Fee shown above). [3] Applicable for the group networking dinner on Thursday, February 9, for guests only.

Enclosed is a check for the total amount due above, payable to:

N o r t h A m e r i c a n P o w e r C r e d i t O r g a n i z a t i o n

Please charge my credit card for the total amount due above.

Visa Mastercard American Express

Name on Card

Card Number

Expiration Date Security Code

Cardholder Signature

Attendee information 1

Liability waiver: By applying for and attending this meeting of the North American Power Credit Organization (NAPCO), the attendee and his/her company agrees to hold NAPCO, RMG Financial Consulting, Inc. (RMG), the Hotel or any Sponsors harmless for any injury, death, illness, or loss that may occur to any persons or property during the meeting. NAPCO, RMG, the Hotel and Sponsors are not responsible for any lost articles, injuries, death or illness that may occur during the meeting.

Registration & Payment 2

REFUND & CANCELLATION POLICY: All cancellations should be requested by January 20, 5 p.m. Pacific in order to be eligible for a refund. After that time, no refunds will be available; however, registration may be transferred to another employee of your company if requested via email prior to the meeting. Please note that registrants who have paid with a credit card will be subject to a $40.00 cancellation processing fee. For all questions and cancellations: Rachel Reisenauer Phone: (509) 532-8896 Email: reisenauer@rmgfinancial.com

Send forms to: Mail: RMG c/o NAPCO Registration 813 East Ballard, Colbert, WA 99005 FAX: (240) 238-2616

Email: reisenauer@rmgfinancial.com

Register by January 20 for early registration savings

N A P C O C o m p a n y M e m b e r s h i p A p p l i c a t i o n 2 0 1 7

north american power credit organization

2 0 1 7 C O M P A N Y M E M B E R S H I P A P P L I C A T I O N

COMPANY MEMBERSHIP INFORMATION

COMPANY MEMBERSHIP LEVEL NAPCO annual membership dues for the period

January 1, 2017 through December 31, 2017 are as follows, please select one:

REGULAR MEMBERSHIP US $750.00 per company Applies to all employees/staff of Regular member company. A Regular company is defined as a company that is directly involved in the marketing, trading and/or transacting in the energy markets.

ASSOCIATE MEMBERSHIP US $750.00 per company Applies to all employees/staff of Associate member company. An Associate company is defined as a company that provides various energy credit support functions in the industry, such as software, consulting services, financial services, rating information services or legal services.

Company Name

City / State

Primary Company Representative:

Name

Title

Phone

Email

Alternate Representative:

Name

Title

Phone

Email

Please note: The Company Representative of the Member Company, and his/her designated Alternate Representative, will fulfill and perform all the obligations and requirements of membership as contained in the North American Power Credit Organization By-Laws, as amended, and will accept and abide by the Organization’s Anti-Trust Compliance Statement.

Signature of Primary Company Representative

PAYMENT METHOD

Enclosed is a check for the above membership dues, payable to:

N o r t h A m e r i c a n P ow e r C r e d i t O r g a n i z a t i o n

Please charge my credit card for the above membership dues:

Visa Mastercard American Express

Name on Card

Card Number

Expiration Date Security Code

Signature

The North American Power Credit Organization (NAPCO) is a member-run, not-for-profit organization that is facilitated by a third-party facilitator, RMG Financial Consulting, Inc. (RMG). It is a forum for credit and risk professionals to network and provide education relating to current credit issues in the energy industry. Please note, membership dues are processed by RMG on behalf of NAPCO.

N e e d a r e c e i p t E m a i l e d t o y o u o r h a v e q u e s t i o n s ?

Rachel Reisenauer, NAPCO Facilitator Phone: (509) 532-8896

Email: reisenauer@rmgfinancial.com

SEND COMPLETED APPLICATION BY: MAIL

RMG c/o NAPCO Membership 813 East Ballard Avenue

Colbert, WA 99005

FAX (240) 238-2616

EMAIL reisenauer@rmgfinancial.com