Day 3 Wednesday, March 23, 2011

8:00 – 8:30 a.m.
Continental Breakfast
8:30 – 10:00 a.m.
Advanced Hedging Part 1: Building Your Program
John Gretzinger, Energy Risk Manager, INTL-FCStone
Now that you’ve covered hedging fundamentals, it’s time to get more specific. Within the context of the upcoming season, you’ll examine purchasing strategies for committed gallons, including fixed and capped price sales, as well as strategies for uncommitted gallons. You’ll also learn other elements involved when entering into a hedging program, such as:
  • Managing the risk of open enrollment periods.
  • Enterprise hedging: avoiding a price super-spike.
  • Choosing hedging counterparties.
10:00 – 10:30 a.m.
Advanced Hedging Part 2: Modeling Strategies
John Gretzinger, Energy Risk Manager, INTL-FCStone
In this follow-up session, John explains how to make the best hedging decisions within specific market and business conditions, and how to use hedging to prevent volatile prices from eroding your profit margins. Plus, learn how to mitigate your exposure to shifting propane prices by aligning your hedging strategies with your marketing strategies.
10:30 – 10:45 a.m.
Refreshment Break
10:45 – 11:30 a.m.
Hedging Simulation
Try your hand at some advanced hedging practices during this final exercise allowing you to apply different techniques to a variety of scenarios.
11:30 a.m. – 12:00 p.m.
Advanced Hedging Part 3: Tracking Hedge Performance
John Gretzinger, Energy Risk Manager, INTL-FCStone
Once your hedging program is underway, you need to be able to measure its performance. We’ll close with a tutorial on how to identify the key indicators of your strategy’s success.
12:00 – 12:15 p.m.
Closing Q&A
12:15 p.m.
Course Adjourns