Northstar’s Strategic Approach
Our strategy is focused on delivering consistent, long-term returns through a well-diversified investment portfolio. By dispersing our bets, we effectively manage and mitigate overall firm-level risk while systematically expanding our footprint across markets. This method enables us to grow methodically, leveraging our systematic approach to uncover opportunities and drive sustained success in diverse trading environments.
Financial Power Markets
Independent System Operators (ISOs) manage pivotal tasks like power plant dispatch and market operations, functioning as exchanges for electricity trading. Pricing is shaped by a complex interplay of factors: demand influenced by economic activity, weather, and consumption efficiency, and supply affected by fuel prices, availability, construction costs, and fixed expenses. This intricate landscape leads to high volatility in spot prices, prompting market participants to hedge risk using derivative products and thereby creating opportunities for power marketers/traders such as ourselves.
PJM
PJM is a regional transmission organization (RTO) that coordinates the movement of wholesale electricity in all or parts of 13 states and the District of Columbia. PJM launched its Day Ahead (DA) market in 2000 and currently has over 1100 members and a generation capacity of over 183 GW, serving more than 65 million customers.
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MISO
MISO is an independent system operator (ISO)/RTO that is a member-based non-profit organization responsible for facilitating the flow of electricity in the Midwestern United States (11 states), parts of Manitoba as well as a southern United States region including Arkansas, Mississippi and Louisiana. The MISO Day Ahead market began in 2005 and currently has over 500 members, serving more than 45 million customers.
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NYISO
NYISO is the organization responsible for managing New York’s electric grid and its competitive wholesale electric marketplace. NYISO directs the flow of electricity over 11,000 miles of high-voltage transmission lines to 20 million New Yorkers.
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SPP
SPP is one of nine ISOs and RTOs in North America. SPP is mandated by FERC to ensure reliable supplies of power, adequate transmission infrastructure and competitive wholesale prices of electricity. SPP oversees the bulk electric grid and wholesale power market in the central United States on behalf of a diverse group of utilities and transmission companies in 15 states.
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CAISO
CAISO is a non-profit Independent System Operator that manages the flow of electricity across high-voltage, long-distance power lines that comprise 80% of California’s power grid by providing open access to the wholesale power market. It oversees the operation of California’s bulk electric power system, transmission lines and electricity market generated and transmitted by its member utilities.
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ICE
The Intercontinental Exchance (ICE) was founded in 2000 to digitize the energy markets and provide greater price transparency. More electric power is traded on ICE than any other electronic marketplace in the world.
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ERCOT
The Electric Reliability Council of Texas (ERCOT) manages the flow of electric power to more than 26 million Texas customers, scheduling power on an electric grid connecting more than 52,700 miles of transmission lines and 1,100 generation units. It also performs financial settlement for the competitive wholesale bulk-power market and administers retail switching for 8 million premises in competitive choice areas.
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ISO-NE
ISO New England is an independent, non-profit RTO serving Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont. ISO-NE was created in 1997 by the Federal Energy Regulatory Commission (FERC) and oversees the operation of New England’s bulk electric power system and transmission lines.
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IESO
IESO was established in 1999 and is responsible for directing the flow of electricity across the high-voltage province-wide network of transmission providers in Ontario, including managing and operating the competitive wholesale electricity market and working with neighboring jurisdictions to manage an integrated North American electricity network.
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NGX
ICE NGX provides electronic trading, central counterparty clearing and data services to the North American natural gas and electricity markets. In 2008, ICE NGX and the Intercontinental Exchange (ICE) launched a joint front end trading technology whereby NGX uses ICE’s front end technology and provides clearing services for ICE’s US physical gas products.
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