This session introduces the fundamentals of wholesale electricity markets, with a focus on ERCOT—the independent system operator managing Texas's power grid. From a quantitative trader's perspective, it explores how ERCOT balances market efficiency and reliability, what makes it unique among U.S. power markets, and how its core segments—Day-Ahead, Real-Time, and Congestion Revenue Rights (CRRs)—function in practice. The discussion links market design to operational dynamics, highlighting how price formation and congestion management create opportunities for generators, traders, and load-serving entities.

About the Speaker: Smeet Poladia is the founder of Equigreen Ventures LLP, a trading firm. Prior to launching his own venture, he was a Quantitative Trader at SESCO Enterprises. While at SESCO, Smeet led the development of trading strategies and performed power‑flow modeling for the ERCOT trading desk.