Peter K. Nance is the Senior Principal for TERA and is an executive with over 15 years of experience serving the energy industries. He directs and conducts research into energy price risk management issues, demand and supply side issues, and trading issues with a focus on short- and medium-term factors. His experience includes work on electricity generation, transmission, and distribution issues related to wholesale and retail energy sales. His work is particularly concerned with the relationship between financial, economic, and technology factors that influence decision making in the energy industries.
Prior to establishing TERA, Mr. Nance served as Manager of Energy Risk for the Lower Colorado River Authority (LCRA). Under Mr. Nance's initiative and direction, LCRA became a national leader among electric utilities in using energy risk management tools for assertive management. This comprehensive program has been in place since 1993. Under state legislation, LCRA can directly engage in hedging activities using futures, options, and other derivatives to reduce the price volatility associated with its electricity and fuel needs (primarily natural gas, heating oil, and crude oil). LCRA manages spreads on gas storage, and uses financial tools to reduce price volatility. LCRA's fossil fuel costs are currently the most competitive in Texas, and their cost of electricity production is currently the ninth lowest in the country as ranked by Electric Light & Power.
Academically, Mr. Nance's work includes study for a Ph.D. in energy economics at The University of Texas at Austin. He holds an M.A. degree in energy and mineral resources from the University of Texas (Austin), an M.B.A. degree with a concentration in finance from the University of North Carolina (Charlotte), and an undergraduate degree from the University of Texas at Austin. He has taught courses at the graduate and undergraduate level in project economic evaluation and environmental geology. His work has been recognized with awards from the Mining and Metallurgical Society of America. He is a member of the New York Mercantile Exchange (NYMEX) Electricity Advisory Committee and the NYMEX Coal Working Group, and he is the current president of the Central Texas Association of Energy Economics.
Mr. Nance has worked extensively as a consultant to Fortune 500 firms. He has also served as marketing manager and general sales manager to Pneumafil Corporation (an affiliate of a Swiss firm) and to Q-Dot Corporation (a subsidiary of Combustion Engineering).
LARRY G. LAWRENCE
Principal
lgl@teknecon.com
Larry G. Lawrence is a Principal for TERA and is an executive with 15 years experience in risk management. His experience includes derivatives portfolio management, risk management and trading consulting, corporate education, technical and options analysis, advisory service publishing, and institutional sales.
Mr. Lawrence has extensive experience in trading and risk management implementation for energy companies. His experience includes the development of trading and risk management policies and procedures, real option valuation and modeling, forward price curve and term structure of volatility development, risk and performance measurement, hedge strategy development, credit risk management, sand trading, and risk management education.
He has served the risk management needs of domestic and international energy companies as an institutional broker of exchange-traded and over-the-counter derivative financial instruments. During his brokerage career, Mr. Lawrence held the position of Vice President at Elders Futures, Inc. and at Merrill Lynch Futures, Inc.
At the conclusion of his brokerage career, Mr. Lawrence was President of Eastbrook Futures, Inc., a subsidiary of the Saudi Arabian merchant bank Eastbrook, Inc. Mr. Lawrence was responsible for all aspects of futures fund management, including fund concept and creation, trading advisor selection and negotiation, and administration.
As an independent consultant, Mr. Lawrence served the needs of a variety of privately-held money management entities. In this role, he developed many fundamental, technical, and econometric models for trading and risk management in equity and fixed-income cash and derivatives markets, and managed equity and fixed-income portfolios for small institutions and high net worth individuals.
Mr. Lawrence has created and conducted educational courses for the energy industry as a consultant to the Princeton Energy Programme. The subject matter for these courses includes analysis and trading of energy futures and options, energy risk management, technical analysis, basis trading, exotic options, and risk management program design.
Mr. Lawrence holds a BS in communications from the University of Texas at Austin. He is registered with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) as a Commodity Trading Advisor (CTA), and with the State of Texas as an Investment Advisor.
DR. SAMIA EL-BADRY
Director of Operations
samia@teknecon.com
Dr. El-Badry is director of operations at TERA and has a unique business background in marketing, an academic background in demography and economics, and an applied expertise in product shifts and usage. Samia is the Vice President and Director of Operations of Teknecon.
Prior to joining Teknecon in 1993, she was a Senior Research Fellow at the IC2 Institute of the University of Texas at Austin. As research director for the Japan Industry program, she directed research on international technology transfer and commercialization. Compiled research topics include legal and regulatory issues; business development; industrial development; and cultural literacy. In addition, she has developed and delivered curricula for a variety executive seminars; edited several books for the government and corporate sectors; acquired international liaisons for student corporate internships; and gave formal presentations to the professional community.
Her work in R/D and market intelligence and planning includes the identification of emerging markets, market analysis, population consumption patterns, knowledge of product development and market distribution. Geographic areas of work include the United States, the Middle East, Japan, and Indonesia. Research areas include energy and transportation; population and policy; telecommunications; and strategic market planning.
Throughout her career, Dr. El-Badry has performed extensive research into the population and ethnic diversity of the United States. Specific U.S. works includes studies on socio-economic attainment patterns of different U.S. immigrant populations, a demographic examination of the Arab American market within the U.S., and a predictive analysis of American diversity today and its long-term future trends. She is also the author of numerous books and articles on the forces behind technological change and the impact of technology on society.
After completing her undergraduate work in Psychology at the State University of New York, she worked in marketing for the hospitality industry in the United States and Southeast Asia. In 1983, she came to The University of Texas and earned her Ph.D. in Sociology/Demography. She then worked in a consulting capacity for Technology Futures Inc. concentrating on addressing strategic issues in market planning and technology for Fortune 100 companies.
Among many of her volunteer and civic activities, Dr. El-Badry, serves on the Secretary's Census 2000 Advisory Committee. The late Ron Brown appointed her in 1993. In it, She represents the Arab-American Community.
Mark W. Thomson
Director
mthomson@teknecon.com
Mark W. Thomson is a natural resource economist by training with 17 years experience in the oil, natural gas, petrochemical, and electric power markets. Mr. Thomson has a Master's Degree in energy and mineral resources from the University of Texas at Austin, and an undergraduate degree in Russian and Soviet history, with special emphasis on Soviet energy policy. He also attended the Massachusetts Institute of Technology for post graduate study of Soviet energy policy. Mr. Thomson was employed for six years at Phibro Energy, where he founded and built the statistical research arm of this world wide commodity trading company. Before joining TERA, Mr. Thomson worked as a broker of financial derivatives in the natural gas and electric power markets.
Mr. Thomson has been recognized with awards from the Mining and Metallurgical Society of America. He is a registered Series 3 Commodity Futures & Options Representative, and is a member of the International Association of Energy Economists (IAEE), the Global Association of Risk Professionals (GARP), and an associate member of the New York Society of Security Analysts (NYSSA). His areas of expertise are in statistical analysis, derivative product pricing and trading, and the development of new markets.
