AB Power Advisors is a premier advisory services firm that specializes in delivering customized solutions to the U.S. power industry. With over fifty years of collective experience working for various market participants in a commercial, risk management and regulatory capacity, we are able to lean on our unique perspectives to help uncover hidden risks and capitalize on opportunities for our clients. Our diversified experience allows us to be Your Competitive Advantage.
Our clients look to AB Power Advisors for the following service offering:
MEET THE LEADERSHIP
Ryan Aldridge co-founded AB Power Advisors with Matthew Berend in March 2018. He has over 20 years of experience in the power industry with-in depth knowledge of trading, thermal and renewable asset optimization, marketing, regulatory, business development, advisory services, asset investment and divestitures, operations, and business startup activities. This experience was gained while working for a wide array of market participants (consulting firm, ISO, trading/marketing firm, private equity, generator, and retailer) which allows Ryan to have a unique combination of skills and experience to draw from.
Ryan leads AB’s regulatory advisory business supporting end-users, developers and trading firms in the ERCOT market. In addition, Ryan provides commercial advisory services to clients and is responsible for AB’s strategy and operations.
In 2013 Ryan was hired by Koch Industries to lead the development of Koch’s power platform after it purchased the Odessa-Ector 1,000 MW CCGT facility from ECP. Matthew joined Ryan in early 2014 and together they co-led Koch’s power platform. Ryan oversaw and completed ISO registration, Qualified Scheduling Entity selection, counterparty enablement, back office setup, trade capture system setup, internal risk and trading authorities’ establishment, and trained internal staff on power markets. Additionally, served as the asset optimization lead and ERCOT power trader for Koch’s ERCOT operations. In 2017 he co-led with Matthew the strategy development and implementation of Koch’s commercial and industrial retail electricity business. Their responsibilities included developing a business plan, establishing power contracts, hiring resources, onboarding a pricing engine and billing platform, executing broker contracts, portfolio supply management, and developing a retail marketing strategy. In the Spring of 2018, Ryan and Matthew successfully led the sale of Koch’s retail business.
In 2011 Ryan was hired by Energy Capital Partners (ECP) to run all commercial aspects of ECP’s ERCOT operations. These activities included commercial optimization, asset dispatch, contract analysis, and market analysis. Additionally, Ryan was responsible for forward trading and structured products for all ERCOT activity. Ryan was a significant contributor during M&A activity as well. He was used to provide subject matter expertise during asset purchases and sales. Ryan’s experience and expertise were heavily upon when analyzing market conditions, reviewing contracts, establishing Energy Management Agreements (EMA’s), and reviewing off-take/PPA/toll agreements. Ryan was a key member of the sales team that sold ECP’s ERCOT business to Koch Industries in December 2013.
In 2008 Ryan promoted to run both the trading and asset optimization desks for AEP’s deregulated operations. Ryan successfully led the term power, cash power, real time power, CRR, and environmental trading activities. He worked closely with the wholesale marketing team to structure creative products and manage risk for sales to Electric Cooperative and Municipal customers. AEP is noted for being one of the most successful power marketers to Electric Cooperative and Municipals in Texas. Ryan was also tasked with managing and operating all aspects of AEP’s deregulated wind business.
In 2006 Ryan joined AEP and leveraged his ERCOT knowledge and experience. While at AEP, he educated AEP’s wholesale customers and internal staff on the upcoming nodal market and kept the commercial trading and marketing teams apprised of any market rule changes that could impact AEP’s commercial interests. Ryan was able to work closely with the commercial trading and marketing teams to commercialize regulatory initiatives at both ERCOT and the PUCT to position the company to capitalize on them.
In 2003 Ryan joined ERCOT and held various roles within the wholesale market development group. It was during this time while in the market development group that Ryan became a subject matter expert in ERCOT systems, market rules, procedures, and the stakeholder process. In the fall of 2003, the ERCOT Stakeholders began developing Protocols to implement a Nodal market. Ryan’s roles at ERCOT allowed him to work with ERCOT Stakeholders and internal ERCOT staff to shape the design of the ERCOT Nodal market.
He started off his career in 1999 at McCord Engineering where he performed cost of service studies, utility rate design, and power supply support for Electric Cooperative and Municipal clients.
Ryan holds a Bachelor of Science degree in Economics from Texas A&M University and a Master of Business Administration from The University of Texas.
Matthew Berend co-founded AB Power Advisors in March 2018. Matthew has over 20 years of experience in the power industry with comprehensive knowledge of risk management, deal pricing & structuring, sales origination, commodity linked finance, commodity portfolio acquisitions, asset optimization, business development, client relationship management, contract negotiation, operations, and business startups. He has negotiated, contracted and executed deals in ERCOT, FECC, NE-ISO, PJM, and NYISO.
Matthew leads AB’s renewable project advisory business supporting wind and solar developers with projects in Texas, New Mexico, Wisconsin and Michigan. Additionally, Matthew provides commercial advisory services to clients and is responsible for AB’s business development efforts.
Prior to founding AB Power Advisors, Matthew joined Ryan at Koch in early 2014 and together they co-led Koch’s power platform as Koch previously acquired the Odessa-Ector Power Plant in late 2013. Matthew led the customer hedge efforts and provided internal energy advisory services to the Koch companies. In 2017 he co-led with Ryan the strategy development and implementation of Koch’s commercial and industrial retail electricity business. Their responsibilities included developing a business plan, establishing power contracts, hiring resources, onboarding a pricing engine and billing platform, executing broker contracts, portfolio supply management, and developing a retail marketing strategy. In the Spring of 2018, Matthew and Ryan successfully led the sale of Koch’s retail business.
Barclays Bank hired Matthew in 2012 to lead the US power sales and origination activities. While at Barclays, he co-led the US power business with a heightened focus on managing the risk of the PJM, New England, MISO and ERCOT portfolios. Matthew expanded the financial derivative hedging business with nationwide utilities, industrial customers and power generators. Additionally, Matthew joined the investment bankers on select engagements as the subject matter expert providing market analysis during asset purchases and sales.
In 2006 Matthew joined JP Morgan to originate power transactions in ERCOT and the eastern interconnect. His market exposure broadened from the northeast markets to include the SERC and ERCOT. Key transactions included selling a synthetic toll from a Florida baseload asset to an electric cooperative, selling capacity from a New England gas-fired power plant to a municipal utility and purchasing capacity on the DC Tie from SPP into ERCOT. In 2008, Matthew was promoted to lead business development and origination for JPMorgan’s ERCOT business. The key focus of the business plan was to expand the historical reach of JPMorgan’s ERCOT portfolio by transacting directly with the generators and end-user consumers. In addition to the wholesale power activity, Matthew led the efforts to implement an Option 2 PUCT retail electric provider license to expand the end-user sales business to large competitive retail customers. Over the next 4 years, JPMorgan built one of the most successful ERCOT businesses at an Investment Bank. His responsibilities included developing a business plan, establishing and maintaining customer relationships, negotiating power purchase and enabling agreements, working out credit terms, and coordinating with all relevant support groups within JPMorgan.
In 1999 Matthew joined Calpine and held various roles within the trading and marketing group. He was the first risk analyst hired in the newly formed mid-office and was responsible for building out the risk books for the west, Texas and east portfolios. Once the mid-office was built out, he was promoted to the national accounts structuring, restructuring and monetization group. He worked with originators to successfully structure transactions with municipal utilities, electric cooperatives and marketers in ERCOT. He led several contract monetization to efficient raise capital to fund operations. In winter of 2003/2004 he was promoted to the east desk as a mid-marketer focused on optimizing and hedging out the 2,000 MWs portfolio in New England, PJM and NY. In 2005 Matthew was promoted to manage the northeast portfolio in addition to the mid-marketing responsibilities. He worked closely with the east origination team to structure products, minimize collateral requirements and manage the portfolio risk of the assets, PPAs and hedges.
He started off his career in 1998 at Koch Petroleum Group where he analyzed risk, reported daily position and profit/loss for the US residual fuel oil trading business.
Matthew holds a Bachelor of Business Administration in in Accounting and a Master of Science in Finance from Texas A&M University.
Caitlin Smith focus as Vice President of AB Power Advisors is AB’s ERCOT/ PUCT regulatory coverage and analysis service; AB’s renewable off-take advisory service; and advises and educates individual clients on regulatory, public affairs and market aspects of the power industry in ERCOT and other ISOs. Caitlin has nearly ten years of experience in energy, with over six years of experience in in the power industry in ERCOT.
Caitlin was previously the Manager of Government and Regulatory Affairs for Invenergy LLC, responsible for creating and implementing policy positions for Invenergy at the Electric Reliability Council of Texas (ERCOT), the Public Utility Commission of Texas and the Texas Legislature. During her time with Invenergy, she took a leadership role among ERCOT stakeholders, chairing the Supply Analysis Working Group (SAWG) and representing generators on the Reliability Operations Subcommittee. Caitlin also advocated at the same venues in Texas (ERCOT, the PUCT and the Texas Legislature) with Jewell & Associates, for a variety of clean energy clients, including wind, solar, storage, distributed generation and demand response interests.
Caitlin was the first in-house attorney for Potomac Economics, the Independent Market Monitor for the wholesale electricity markets of ERCOT, where she worked in an advisory capacity to the Public Utility Commission of Texas on investigations into market manipulation and development of wholesale market design.
Caitlin received an L.L.M. in Environmental & Natural Resource Law & Policy from the University of Denver, a J.D. from the Pennsylvania State University, Dickinson School of Law, and a B.A in Economics from the University of Texas. Caitlin served on the Board of the Central Texas SPCA for over four years and chaired their signature fundraiser for two years. Caitlin has been active with the Gulf Coast Power Association (GCPA) for several years, including serving on the planning committee for the two fall conferences and the 2020 EmPOWERing Women Leadership Conference, and serving as Co-Chair for the Spring 2020 GCPA Conference.