ABSTRACT

Electric Utilities deregulation continues to move forward impacting the traditional practices of utilities to acquire and utilize their generation and transmission assets. Power Marketing and Trading continues to expand exponentially, where Power Marketers and even end-users regularly announce the creation or expansion of in-house trading floors and staffs. Power Marketers' sales recently are doubling in single quarters. Western electricity exchange-traded futures and options markets continue to gain liquidity, and Eastern future contracts are under active development. Blocks of power often turn over six to ten times between generator and end-user. Innovative players from both the high-cost and low-cost end of the business have discovered value in active marketing and trading of electricity.

Two experts and long-term participants in the ongoing deregulation and power marketing developments will present their views from their distinct perspectives in the industry. Mr. Phil Borrello will discuss the Power Marketers perspective. Mr. Dennis Sobieski will provide the electric utility perspective.

ABOUT THE SPEAKER

Mr. Dennis Sobieski is the Manager of Legal and Regulatory Services at Public Service Electric & Gas. Dennis is reponsible for compliance with legal and regulatory requirements. With more than 20 years in electric transmission and generation areas, Dennis has been on the forefront of the planning and development of the PSE&G and PJM bulk power transmission system. As manager Interconnections Planning allowed him to participate in the planning, contract development and administration of PSE&G's high voltage transmission facilities which are jointly owned with its PJM and New York neighbors. He involves in preparing the region and industry for deregulation and open access.

Dennis holds a degree in EE from Ohio University, and a MSEE degree in Power Engineering fron RPI. He completed the Executive Development Program at Penn State and a registered PE in New Jersey.

Mr. Phil Borrello is Vice President of Power Trading with EnerZ, a diversified national and international energy company. He was with Con Edison for 15 years. He was also the chief power trader at Phibro before joining Power Trading with EnerZ. Phil holds an MBA degree from St. John University.