James Reynolds – JReynolds@powerandgasconsulting.com – profile:
I have been active in the power business in the US and internationally for 25 years, developing wholesale and retail power contracts. Further, I have been active in all aspects of the Texas power market since deregulation started in 2002, as part of management teams that started up two REP companies. I was elected twice to the ERCOT Technical Advisory Committee. Prior to that, I spent over 15 years in power project development for El Paso Energy, Destec Energy, and Tenneco Power. I led project teams in the development or acquisition of many power plants in the US, South America, and Asia. My last project with El Paso Energy was the acquisition of Korean Independent Energy Corp, an 1800 MW plant, fueled by LNG, in South Korea. El Paso recently sold their project interest for a reported gain of $115 million. I have a BS in Mechanical Engineering degree from Georgia Tech and an MBA from Harvard Business School.

Described below is an overview of our activities in the electric industry in representing Retail Electric Provider clients in the ERCOT Market Redesign/Nodal Implementation process now underway in Austin and in aiding large commercial and industrial power users in soliciting and securing electric services.

Power & Gas Consulting, LLC represents large industrial and commercial power users in Texas in soliciting their electricity supply and monitoring billing usage, etc. to save costs and increase efficiencies.Clients have included National Oilwell Varco and Southwest Canners, a Coca Cola affiliate. We analyze a client’s power usage and solicit from several reputable Retail Electric providers different types of terms and pricing- fixed price, variable pricing with spot wholesale electric prices, etc.

Power & Gas Consulting, LLC represents Retail Electric Providers in activities at the Electric Reliability Council of Texas (ERCOT) related to the ERCOT Nodal Transition Plan Task Force (TPTF). This Task Force has been chartered to direct and assist ERCOT in implementing the design and transition of the market redesign to a nodal pricing system with added market features such as Day Ahead markets. The change is so significant that virtually all ERCOT computer systems are being revamped and many new enhancements are being included. Currently we have seven REP clients who have contracted for this service- Green Mountain Energy, Strategic Energy, Stream Energy, StarTex Power, Accent Energy, Cirro Energy, and Integrys Energy Services.

Other consulting efforts for clients in the Texas retail power business have involved assisting in the area of planning and purchasing wholesale supply from generators and power marketers as well as from ERCOT to serve their retail business load. Further, we have been active in helping new REPs in their pricing models and strategies as well as teaching the detailed workings of the ERCOT rules and procedures in the wholesale and retail power markets.

The two key ingredients in building a successful business in retail power in Texas are essentially acquiring customers and purchasing wholesale power supply in the proper amounts and with pricing that assures adequate margins. Attached is an article that I wrote for EnergyCentral last year that speaks to these issues.