Advocacy Training: Financial Issues and the Future of Coal
On Tuesday and Wednesday, January 10-11, 2012, the Institute for Policy Integrity and the Institute for Energy Economics and Financial Analysis (an affiliate of the Rockefeller Family Fund’s Power Plant Finance Project) will bring together environmental advocates and attorneys from around the country for a two day training program on financial issues surrounding investments in existing and proposed coal-fired power plants and related coal facilities.
Day One
8:30-9:00 Welcome: Michael Livermore, Institute for Policy Integrity and David Schlissel, Institute for Energy Economics and Financial Analysis.
9:00-10:15 Finance 101: Tom Sanzillo and David Schlissel, Institute for Energy Economics and Financial Analysis.
PowerPoints:
David Schlissesl Finance 101
Readings:
Financial Risks of Investments in Coal pages 1-15
10:15-10:30 Break
10:30-12:00 Finance 101 (continued)
12:00-1:15 Lunch: Speaker Bruce Nilles from the Sierra Club
1:15-2:30 How to Read a 10-K:Tom Sanzillo and David Schlissel, Institute for Energy Economics and Financial Analysis.
Readings:
Natural Gas Impacts From Upcoming Coal Retirements
2:30-2:45 Break
2:45-4:00 Panel: Rating Agencies: Larry Shapiro, Rockefeller Family Fund (Chair); James Hempstead, Moody’s; Bhala Mehendale, Fitch Ratings.
PowerPoints:
Evaluating Longer Term Risk
Credit Ratings- The What and Why?
Readings:
Phasing out Federal Subsidies for Coal pages 1-9
4:00-5:15 Panel: Case Studies: Heidi Binko, Rockefeller Family Fund (Moderator); Jennifer Powis, Sierra Club Texas; Sandy Buchanan, Ohio Citizen Action; Leslie Lowe, UCI Environmental Accountability.
PowerPoints:
Beyond Coal Campaign in Texas
Coal Case Study
Readings:
Upcoming Recent Coal-Fired Power Unit Retirements
7:15-8:30 Current and Future Markets for Domestic U.S. Coal:Tom Sanzillo; Leslie Glustrom, Clean Energy Action; Matt Wasson, Director of Programs, Appalachian Voices.
PowerPoint:
US Coal Cost and Supply
Day Two
8:30-9:45 Panel: Public Financing of Coal: Tom Sanzillo (Moderator); Mark Kresowik, Sierra Club; Lisa Hamilton, Institute for Energy Economics and Financial Analysis.
PowerPoints:
Electric Cooperative Finance
The Essentials of Public Finance
Readings:
Right Decision Report
9:45-10:00 Break
10:00-12:00 Panel: Investment Analysts and Investors on “The Future of Coal” and “Investments in Renewables”: David Schlissel (Moderator); Julien Dumoulin-Smith, UBS Investment Research;
Paul Fremont, Jefferies; Michel di Capua, Bloomberg New Energy Finance.
PowerPoint:
Jefferies & Co.
Readings:
Financial Risks of Investments in Coal pages 16-31
12:00-1:00 Lunch
1:00-2:15 Panel: Public Integrity and Coal: David Eichenthal (Moderator), Director, PFM Group; Lisa Hamilton; Larry Shapiro; Robert Ukeiley, Private Attorney, Kentucky; Kerwin Olson, Citizens Action Coalition of Indiana.
PowerPoints:
Public Integrity and Coal
Prairie State Energy Campus
Cobb EMC
Case Study of EKPC JK Smith
The Edwardsport IGCC
Timeline of the Edwardsport IGCC Scandal
Readings:
Phasing out Federal Subsidies for Coal pages 10-18
2:15-3:45 Next Steps: David Schlissel (Moderator); Mark Kresowik; Heidi Binko.
Readings:
Sunflower Opinion
2:45-3:00 Wrap Up: Larry Shapiro and Michael Livermore.