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<v ->My name is Alan Hudson, I'm a risk analyst for ASYS.</v>

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So the primary role that I've had

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for the past five years as a risk analyst,

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our primary product, is market-to-market evaluation

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of our clients' transactions.

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So, basically once a utility gets into a transaction,

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they need to know on a daily basis

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how much that transaction's worth.

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So my job is helping to create the forecast

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that we use to value those transactions

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and then, actually running those evaluations.

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We're talking about companies that own power plants,

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so any kinda company that owns a power plant

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and is delivering wholesale energy,

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usually the industry is divided into

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wholesale, and then retail.

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So, the wholesale end is usually not

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who a consumer would pay.

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Usually, they're paying a distributor of electricity.

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So, in this area, you might be paying a co-op,

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you know, a county level co-op.

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But then, that county level co-op

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is getting their electricity, actually,

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from a much larger co-op that owns power plants,

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natural gas plants, things like that.

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So, primarily, we get information from the market.

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So, basically, on a daily basis, we get 10 or so

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different brokers come in, read all this information,

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that we compile it together in the morning.

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And then, we combine that with longer term information

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as well, to create these forecasts on a daily basis.

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And then, we also do statistical work on

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locations that are harder, more liquid.

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Clients may have to pre-pay for energy

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or they might be charging other companies for energy

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depending on how the market has moved.

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So, in the case that there's a margin call,

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which is what happens, I defend those evaluations

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against other companies.

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So, certainly possible that a company like BP Energy

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or ConocoPhillips or another large energy company

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could have financial experts on their end of the phone,

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talking to me about where I'm getting my evaluation from,

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and we're comparing and contrasting and figuring out,

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you know, who's right and who's wrong.

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That's one end of it, that's after a transaction's happened.

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Before a transaction has happened,

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the clients want to know how likely is it

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that we could end up getting, you know,

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losing a lot of money on this transaction,

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what's a worst case scenario, what's a best case scenario.

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So, it's also my role and probably my primary function

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in the department.

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And the thing that I've developed, really,

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over the past four years or so,

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is probabilistically analyzing energy prices

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and seeing where that forecast could move over time.