SERVICES / POWER & COMMODITIES MARKETS

Thorndike Landing specializes in the analysis of power, commodity and emissions markets, advising our clients with a broad array of activities from developing business strategies, effectuating a divestiture or acquisition, to supporting a financing activity. Our bespoke models integrate several modules to form a comprehensive analytical framework and capture the interrelations and dynamics between markets, including:

  • Commodities module, including natural gas, coal, and a wide range of fuel oils
  • Carbon module to capture the dynamic nature of this factor where it applies, as well as EPA’s Clean Power Plan outcomes
  • Wind module, to capture the impact of varying wind speeds on power prices
  • Energy module, to forecast unit dispatch in an hourly, 20-year modeled market
  • Capacity module, to model the specific capacity market regime in a given market, such as the bid stacks in PJM RPM, NY ICAP, FCM, MISO, and CAISO Resource Adequacy, or ERCOT ORDC type energy-only market dynamics
  • Ancillary Services module to support development, transactions, and financing of storage assets in mileage and capacity markets, as well as other unique asset bundles

Services

  • Power Market Modeling & Analysis for Merchant Assets or Merchant Tails
  • Fuel & Commodities Market Analysis for an Appropriate Range of Scenarios
  • Renewable Energy Credit (REC) Analysis and Forecasts
  • Financing Support, including Independent Market Reports
  • Market Entry Analyses, including Reasonableness of Wind and Solar Forecasts
  • Curtailment Analysis
  • Wholesale Market Design
  • Retail Market Analyses – Behind the Meter Economics
  • Supply & Demand Forecasting
  • Bankruptcy & Restructuring Initiatives
  • Litigation Support
  • Regulatory / Legislative Policy Impact Assessment – Clean Power Plan, State Initiatives, REC Forecasting
  • Bid and Offer Analysis for Individual Generators – Competitive Intelligence on Capacity and Energy Market Bid Behavior
  • Yieldco Analysis – Bottom Up, including PPA and Production Research
  • Financial Valuation of Power- and Gas-Related Assets and Businesses

Sample Markets and Assets

PJM Energy, Capacity (RPM) Engie Portfolio
Regulation Mileage and Capacity GenOn Portfolio
  Calpine Portfolio
  On-the-Shale CC’s
  Refueling and Repowering
  Glidepath, EdF, RES Americas Battery Storage
  Wheelabrator Portfolio
  Bruce Mansfield
  Mad River (Litigation Support)
  Lakeside (Hazleton)
ERCOT Energy and Scarcity TXU/EFH portfolio
  NRG Gas Steam Assets
  Riverstone Portfolio
  Bosque (Litigation Support - Bankruptcy)
  Odessa
  Gregory
  Navasota Portfolio
  Lyondell
  Clear Lake, Texas City
New York ISO Energy and Capacity (ICAP) TransCanada Portfolio – Ravenswood
Zone J, Rest of State (ROS), Lower Hudson Valley (LHV) Astoria Steam, SCS, SCS II
  Narrows & Gowanus
  Lyondell (Divestiture)
  Lakeside (Syracuse & Beaver Falls)
  Niagara Falls
  Rensselaer Cogen
  Empire CC
  Danskammer
  Roseton
  Somerset & Cayuga
  Noble Wind Portfolio
ISO New England Energy and Capacity (FCM) Mystic (Litigation Support – Bankruptcy)
Regulation Mileage and Capacity Fore River
  Rhode Island State Energy Center (RISEC)
  Wheelabrator Portfolio
  Tiverton
  Rumford
  Bridgeport CC
  GenConn Portfolio (Market Testimony)
  Winooski One Hydro Plant (Testimony – Arbitration Support)
  Northfield Mountain and other Engie Portfolio Assets (incl. Regulation Market and LFRM)
MISO Energy and Capacity (Zone 4 Resource Adequacy – Module E) Dynegy Portfolio
  Clinton Nuclear
  Ameren Portfolio
  Plum Point Arkansas
CAISO and WECC CPV Sentinel
Energy, Resource Adequacy, Flex Market Palo Verde
  Mesquite CC
  High Desert
  Blythe CC
  Solana
  Klamath Falls
  Pio Pico
Alberta Energy-Only Market Renewable Portfolio
SERC Avoided Cost Assets