Evolution of Organized Electricity Markets in Western North America

Presenter:  Derek Russell, Powerex

With over 20 years of experience at Powerex, Derek Russell has navigated the ever‑changing landscape of Western power markets. Working in both the real‑time and day‑ahead electricity trading groups, Derek gained a deep understanding of the financial and physical realities of transacting and scheduling power across the West. Throughout this time, he witnessed firsthand the impacts of a rapidly evolving grid. Now Director of Power, Derek is a contributing voice in regional initiatives, including the development of the Western Resource Adequacy Program (WRAP) focused on regional reliability, and Southwest Power Pool's day-ahead organized market offering, Markets+.

Derek holds a Bachelor of Applied Science in Electrical Engineering from UBC and is a CFA® Charterholder.

Topic: Evolution of Organized Electricity Markets in Western North America

Derek traces the Western electricity markets’ journey from the early days of bilateral trading to the recent FERC approval of two organized day-ahead markets, spotlighting the milestones that built today’s momentum. He then unpacks the economic, policy, and reliability drivers propelling these initiatives forward, illustrating how resource diversity and regional coordination can unlock both savings and reliability. Attendees will leave with a concise timeline of market evolution, an understanding of the current challenges facing the West, and the cooperative actions taken by the industry to address them.