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VAT on Virtual and Online Programmes

VAT is applicable on virtual programmes to delegates attending from the UK*. If participating from the EU, a valid VAT number is required to ensure VAT will not be charged under the reverse charge mechanism. VAT is not applicable to attendees from all other countries.
*For virtual courses ran through our Asia office, VAT may be applicable to HK and Singapore residents only. Find out more by contacting learning@euromoney.com

 

Claiming Back Your VAT

All attendees of a London based course incur VAT as a part of the cost of attendance.

Euromoney Learning have partnered with VAT IT to allow you the unique opportunity to recoup the VAT incurred.

Using VAT IT's extensive experience and simple sign-up and refund process, every invoice can be turned into cash for your business.


Claim the VAT that's rightfully yours in four simple steps:

1. Register your interest

2. Sign a few simple documents

3. VAT IT processes your claim

4. Receive your refund




Why choose VAT IT 

VAT IT have spent two decades identifying, researching and perfecting the foreign VAT Reclaim process and built the best back end technology in the industry. By partnering with Euromoney Learning, we can provide you with a fast and effective way to reclaim your VAT which helps reduce the cost of your training.

VAT IT will charge a percentage of the VAT refund if/when it is successful. 


Can I claim back the VAT myself?

You can claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form. 
For European clients, please refer to form VAT 65
All other clients, please refer to form VAT 65A.

 

You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.

Analysis of Contracts for Independent Power Projects (IPP)

Learn how to maximise the financial benefits from best practice corporate governance
  • "A worthwhile investment. Very informative and interactive" - Risk and Assuance, NLNG

    "The course was very good and would be useful for all directors" - Director, Retirement Benefits Authority

    This practical Corporate Governance training programme examines current best practice in all aspects of corporate governance, from the new role of board committees and directors' responsibilities and powers, to best implementation of governance in day-to-day activities.

    The costs and benefits of best practice governance will be examined and practical guidance will be given on such issues as the relationship with shareholders and other stakeholders, managing and meeting the expectations of the market, international investors and local government and regulatory authorities. You will also discuss the challenges of implementing best-practice corporate governance in emerging markets and will include the specific requirements of banks and financial institutions.

    How will this course assist you?

    This comprehensive 4-day programme will cover:

    • The current state and direction of best practices in corporate governance
    • Implementing and embedding best practices within your organisation /institution
    • How to structure board committees, institutional policies and procedures to conform to international requirements and expectations
    • How to communicate governance procedures to outside stakeholders including shareholders, governments and communities
    • Implementing governance directives within the management of the institution
    • Governance as a competitive edge
    • Identifying and maximising the financial benefit from improved corporate governance and procedures 


    Methodology

    The virtual version of this course, has been specifically structured for full virtual interaction, and has been broken down into 12 distinct sessions over a series of 4 days.   There are 12 distinct sessions, with three 1.5 - 2 hour long each day.  Thus allowing the participants to plan appropriately.   It has been designed specifically to ensure the home worker is able to attend.
    The course will begin at 8am BST (British Summer Time) each day, with the 3 sessions daily,

     

    Daily Schedule (all times BST)

    Session One - 8am

    Session Two - 11am

    Session Three - 2pm



    Who should attend?

    • Directors & Board Members
    • Audit Committee members
    • Company secretaries and governance professionals
    • Corporate counsel
    • Senior company management
    • Investors and fund managers
    • Analysts
    • Regulators
    • Securities exchange officials
    • Lawyers & legislators

     

     

    Note - A good level of spoken and written English is required to attend this course. Delegates should be of an intermediate standard in English at a minimum. Please refer to the Common European Framework of Reference for Languages - as a guide the level required is B2.

     

  • This course will take place using Video Conferencing Technology.  To find out more, please contact learning@euromoney.com


    This course will take place over 5 sessions, each of 3-4 hours in length over 5 days.

    The course start time will be 11am BST (British Summer Time) each day.

     

     

     

    Session 1: Introduction, History and PPA Contracts with Utility Companies and Feed-In Tariffs
    - Background on PPA contracts in for power facilities with risk allocation and a brief history of rational for risk allocation through contracts
    - Policy Arguments for and Against IPP’s
    - State owned systems and power outages, inefficient plants, high losses
    - Vertically owned systems, regulatory costs, nuclear power in the U.S.
    - Merchant power systems, California crisis, merchant meltdown and price increases

    - Introduction to PPA database and comparison between renewable utility PPA’s and PPA’s for dispatchable plants

    - Reasons that output allocation to investors is pervasive in renewable energy PPA’s
    - Work through case study of solar PPA contracts for Dubai and Nigeria
    1. Single Price Payment
    2. Transmission Risk
    3. Inflation Provisions
    4. Currency risk
    5. Exchange rate risk

    - Feed-in tariffs compared to PPA contracts
    - Work through case study of wind feed-in tariff for on-shore and off-shore projects in the Netherlands
    - Connection between EPC, O&M, LSTA and other agreements with the PPA agreement
    - Review of Wind Supply Agreement from Vestas and Power Curve Guarantee
    - Case Study of Solar and Wind Resource Studies to Evaluate Output Risk

    Session 2: Merchant Renewable Projects
    - History and theory of merchant prices instead of fixed price PPA contracts
    - Merchant price risks in renewable contracts
    1. Merchant tail
    2. Settlements
    3. Merchant Floor Prices for Feed-in Tariffs
    4. Mitigation of Off-taker Risk

    - Review of merchant prices for different areas in the world
    1. Merchant prices in UK since 1989
    2. Merchant prices in Australia and spikes
    3. Merchant prices in Philippines and Turkey and Long-term Trends
    4. Merchant prices in Europe and effects of renewable energy
    5. Merchant prices and natural gas prices
    6. Evaluation of merchant prices with market heat rates

    - Capacity pricing, day ahead pricing and ancillary service pricing
    1. Exposure to real time pricing for differences in generation
    2. Ancillary service prices and renewable energy with storage
    3. Capacity pricing for renewable projects
    4. Duck curve and operating reserves

    - Theory of marginal cost and forward pricing
    1. Alternative supply curves
    2. Supply curves with surplus capacity
    3. Demand profiles and changes in demand
    4. Changes in fuel prices
    5. Changes in renewable resources

    - Forward price shapes and renewable energy
    1. Case study of Australia and negative prices with sunny periods
    2. Case study of Denmark and prices during windy and non-windy periods

    Session 3: Corporate PPA’s
    - Rationale for corporate PPA’s with large firms like data centres
    - Contracts of differences in corporate PPA’s
    1. Review of contract language in CfD
    2. Review of websites with forward prices
    3. Language in forward contracts
    4. Review of websites with forward prices

    - Case study of Corporate PPA language
    1. Corporate PPA Tenure
    2. Settlement accounts for difference between output and prices

    - Merchant risks in Corporate PPA
    1. Basis risk and hub price
    2. Settlement risk and differences in quantity
    3. Shape risk and changes in merchant prices

    - Case study of using financial model of corporate PPA
    1. Evaluation of hourly prices at the hub
    2. Evaluation of basis risk from wind farm to hub
    3. Settlement analysis
    4. Settlement risk and differences in quantity
    5. Shape risk and changes in merchant prices
    6. Alternative merchant price scenarios
    7. Financial results with alternative price scenarios

    Session 4: Liquidated Damages, Power Curve Penalties, Performance Incentives, Transmission and Other Non-Price Provisions of Contracts Corporate PPA’s
    - Theory of penalties and incentive clauses in power contracts
    1. Notion that penalties should equal off-taker costs
    2. Inefficiencies when the penalty is too high
    3. Inefficiencies when the penalty of incentive is too low
    4. Measuring off-taker marginal costs
    5. Measuring project marginal costs
    6. Off-shore wind case study

    - Liquidated Damages
    1. Damages for delay
    2. Damages for performance ratio
    3. Damage for power curve
    4. Damage for deficit production

    - Transmission Risk
    1. Allocation of transmission risk
    2. Case studies of transmission problems
    3. Payment of Up-front transmission costs
    4. Transmission and battery back-up

    - Other Provisions
    1. Default by Off-taker
    2. Default by Investor
    3. Billing and Payment
    4. Testing and Dates

    Session 5: Off-Taker Issues in Renewable Energy
    - Case Studies of Off-taker Default
    1. Spanish FIT Default
    2. Tanzania Rate Change
    3. U.S. Net Metering Change
    4. Nigeria Distribution and Testing and Dates

    - Political Risk Mitigation
    1. Political Risk Insurance, cost and meaning
    2. PPA Contract Guarantee, cost and meaning
    3. Equity and Debt Insurance
    4. Risk Mitigation from low PPA Rates

    - Evaluation of Political Risk
    1. Credit Risk of Off-taker
    2. Cost of Renewable Contract to Government
    3. Benchmarking Costs


  • Our Tailored Learning Offering

    Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – 10/10 of the world’s largest banks have chosen us as there training provider and we have delivered training across the largest banks and have trained over 25,000 professionals.
    • Knowledge – our 100+ strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 25,000 events both in person and online, using simultaneous translation to delegates from over 99 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 4.2/5 on service and 4.7/5 on Coursecheck
This course can be run as an In-house or Tailored Learning programme

Instructor

  • Ed Bodmer

    Biography

    Ed has created innovative forward pricing, productivity measurement and investment valuation software for consulting clients throughout the United States. He has taught energy economics and finance throughout the world, and formulated significant government policy and corporate strategy in the U.S. His consulting clients include investment banks, commercial banks, research institutions and government agencies on a wide variety of complex valuation and advisory matters. He has constructed a unique framework for electricity price forecasting and valuation using production cost modelling techniques combined with option price theory and Monte Carlo simulation. He is also an adjunct professor at leading University where he teaches courses in microeconomics. Along with his practical experience that covers a multitude of major advisory projects, he has taught specialised courses in financial modelling, electricity pricing, option valuation, mergers and acquisitions and contracting to investment banks, commercial banks, industrial corporations and electric utility companies. He was formerly Vice President at the First National Bank of Chicago where he directed analysis of energy loans and also created financial modelling techniques used in advisory projects. He has used the models in providing expert testimony on subjects ranging from capital structure to investments in multi-billion dollar nuclear plants to complex valuation of new investments. He received an MBA degree specialising in econometrics (with honours) from the University of Chicago and a BS degree in finance from the University of Illinois (with highest university honours). He has written many articles and is in the process of completing a textbook on valuation of electricity assets.