Edward Krapels

Edward N. Krapels is a leader in the rising industry of non-utility electric transmission and distribution development. He is the CEO of Anbaric, a company behind $5 billion in independent transmission and microgrid projects built to bring lower cost power into dense urban areas, including Manhattan. In 2017, Anbaric formed a joint venture with the Ontario Teachers’ Pension Plan (OTPP), creating Anbaric Development Partners, to develop innovative electric transmission and microgrid projects in North America.

Mr. Krapels is a former financial advisor and risk management consultant. He has published several books and scores of articles in energy industry journals. He was a member of Department of Energy Secretary Steven Chu’s Electricity Advisory Committee from 2010 to 2012.

In the transmission sphere, Mr. Krapels has been a founding partner in developing several iconic electric transmission projects, including the Neptune Regional Transmission System, the Hudson Project, and several major new projects designed to bring renewable power into urban markets. Mr. Krapels is also responsible for innovations in the promising Microgrid industry. In 2009, Mr. Krapels co-founded Viridity Energy, a company dedicated to optimizing demand-side management programs and developing the control software for Microgrids. Anbaric has initiated a microgrid project development company (AnbaricMicrogrid.com) and is actively pursuing the development of the first generation of independent microgrids

In New England, Mr. Krapels and Anbaric are developing the Vermont Green Line and the Maine Green Line transmission projects, in a development and investment partnership with National Grid. In New York, Mr. Krapels and Anbaric are developing both electric transmission lines (the Clean Energy Link) and large microgrids in a development and investment partnership with Exelon.

As a consultant and financial advisor, Mr. Krapels has provided valuation and due diligence services to many prominent investors in the energy arena. As a risk management advisor, Mr. Krapels has assisted major utilities, end users, and government agencies. He developed a series of guides to energy hedging strategies for Risk which have been used by hundreds of companies around the world. He remains one of the authorities on the appropriate uses of hedging tools and on the distinctions between hedging and speculating in energy markets. Mr. Krapels has been a registered Commodity Trading Advisor (CTA).

Mr. Krapels has written several books, dozens of monographs, and scores of articles ranging from the international oil and gas to U.S. electricity markets. He serves on various boards, including the Board of the Alpha Project, the Visiting Committee of the Social Sciences Division of the University of Chicago, and the External Advisory Committee of the Channing Division of Network Medicine of Brigham & Women’s Hospital and Harvard University Medical School.

 

Books, major manuscripts

 

2007: “Financial Energy Markets and the Bubble in Energy Prices: Does the Increase in Energy Trading by Index and Hedge Funds Affect Energy Prices?” Testimony and Prepared Statement before the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs and the Subcommittee on Energy of the Committee on Energy and Natural Resources, United States Senate, December 11, 2007, published by the U.S. Government Printing Office as Speculation in the Crude Oil Market.
2000: Electricity Trading and Hedging, (London, Risk Publications).

1999: Natural Gas Hedging: Benchmarking Price Protection Strategies, with Chris Ellsworth, (London, Risk Publications).

1998: Crude Oil Hedging: Benchmarking Price Protection Strategies, with Michael Pratt, (London, Risk Publications).

1996:  Paper Oil: The State of the Markets and Uses of Their Instruments. (Washington, D.C.: ESAI).

1995: A Year on the (H)Edge (Washington, D.C.: Hobijn-French Publishing Co.).

1990:  The Commanding Heights: Control over International Oil in the 1990s (Japanese language version published by the Sanseido Press in 1990).

1987: Storage in the International Oil Market (London: Economist Intelligence Unit, Special Report No. 1117), with Sarah A. Emerson.

1986: Impact of Developing Countries on the World Oil Market, Petroleum Intelligence Weekly Special Report.

1985: Fuel for the Engine of Growth: Oil Pricing in Developing Countries, Report prepared for the Agency for International Development.

1983: Crude Oil Access (editor), Report prepared for the Harvard University Energy and Security Project.

International Oil Supplies and Stockpiling (editor), Economist Intelligence Unit.

1982: Pricing Petroleum Products: Strategies of Eleven Industrial Nations, McGraw-Hill Publications Company.

1980: Oil Crisis Management: Strategic Stockpiling for International Security, The Johns Hopkins University Press.

1977: Oil and Security: Problems and Prospects of Importing Countries, International Institute for Strategic Studies, Adelphi Paper # 136.

1977: Controlling Oil: British Oil Policy and the British National Oil Corporation, Committee on Energy and Natural Resources, U.S. Government Printing Office.

 

Published articles

  • “Don’t Forget About Transmission,” CommonWealth, March 24, 2017
  • “The Trump Doctrine and Globalization,” Huffington Post, February 15, 2017 (link)
  • “Electric Infrastructure Doesn’t Need Tax Credits” Huffington Post, January 13, 2017 (link)
  • “Why Google’s Greenwashing Hurts Society, And How To Fix The Problem,” Huffington Post, December 13, 2016 (link)
  • “Climate Change Policy In The Trump Administration: A Tale Of Two Cities” Huffington Post, November 21, 2016 (link) 
  • “With Renewables, Intermittency is a Problem,” CommonWealth Magazine, November 15, 2016 (link)
  • “States are where clean energy action is”, CommonWealth Magazine, October 5, 2016 (link)
  • “New York as a Clean Energy Hub,” Electricity Journal, September 2016 (link)
  • “Reframe your time frame,” Pensions & Investments, August 29, 2016 (link)
  • “New York’s ‘50 By 30’: A Model For The Rest Of America,” Huffington Post, August 19, 2016 (link)
  • “The Energy Gangs of New York,” Huffington Post, July 15, 2016 (link)
  • “Op-Ed: Onshore Wind Power Has a Place On The ‘Combo Platter’,”MASSterList, July 1, 2016 (link)
  • “Long-term Energy Contracts Make Sense,” CommonWealth Magazine, June 24, 2016 (link)
  • “A More Perfect Union,” Huffington Post, June 6 2016 (link)
  • “New York’s Clean Energy Commitment Is a Great Economic Strategy,” Huffington Post, May 2, 2016 (link)
  • “Unpacking the CalPERS decision,” Infrastructure Investor, March 28, 2016. (link)
  • “Calling all institutional investors: Opportunity exists to invest in cleaner energy grid,” Pensions & Investments, March 3, 2016. (link)
  • “The Future of Energy,” Boston Globe op-ed, October 24, 2015. (link)
  • “It’s time for a clean energy two-fer,” Commonwealth Magazine, May 12, 2015.
  • “Bringing more clean energy to New England,” Boston Globe op-ed, May 1, 2014. (link)
  • “Microgrid development: good for society and utilities,” IEEE Power & Energy Magazine, July-August 2013. (link)
  • “Smaller, Cheaper and More Resilient: The Rationale for Microgrids,” Public Utility Fortnightly, April 2013. (link)
  • “Busting the Transmission Trusts: Creative Destruction is Coming and it Can’t be Stopped,” Public Utility Fortnightly, February 2013. (link)
  • “The Terrible Trio Impeding Transmission Development: Siting, Cost Allocation, and Interconnection Animus”, The Electricity Journal, January 2010, Vol 23/1
  • “Deployment of Demand Response as a Real-Time Resource in Organized Markets,” (with Audrey Zibelman), The Electricity Journal, June 2008, pp. 51-56.
  • “Mercantilism and the Green Energy Debate” The Boston Globe (op-ed), March 3, 2008. (link)
  • “Regulators Will Need to Be Mindful of Which Transmission Institutions They Want,” The Electricity Journal, October 2006, Vol. 19/8.
  • “Barriers To Transmission Superhighways: History teaches us that the most successful American businesses emerge from the crucible of competition,” Public Utilities Fortnightly, May 2006, pp. 36-51. (link)
  •  “The Design and Effectiveness of Electricity Capacity Market Rules in the Northeast and California,” The Electricity Journal, October 2004, Vol. 17/8.
  • “The Past, Present and Future of Energy Trading,” The Proceedings of the Fifty-Fourth Annual Institute on Oil and Gas Law, the Institute for Energy Law, 2004.
  • “The Future of Energy Trading,” The Yale Politic, December 2004
  • “The Angle of Repose for Electricity Restructuring: The 2003 Energy Act, FERC, and the Outlook for Transmission Investment,” The Electricity Journal, January/February 2004, Vol. 17/1 pp 16-20.
  • “What is a Power Plant Worth?” Public Utilities Fortnightly, January 2004, pp. 31-33.
  • “One Proposal to Boost Merchant AC Transmission Investment,” Electric Perspectives, July/August 2003, pp. 62 – 65
  • “Back to the Future, LSE’s in the Driver’s Seat Again,” The Electricity Journal, January/February 2003, pp. 88-92.
  • “Risk in US Energy Markets”, Modern Risk Management: A History, (London, Risk Books, 2003), pp. 341-368.
  • “Stimulating New Transmission Investments,” The Electricity Journal, April 2002.
  • “The Northeastern RTO and Merchant Transmission,” Project Finance International, September 2001, pp. 46-48.
  • “Re-examining the Metallgesellschaft Affair and its Implications for Oil Traders,” Oil & Gas Journal, pp. 70- 77, March 26, 2001. (link)
  • “Determining Prudence in a Hypervolatile Market,” The Electricity Journal, April 2001
  • “The California Energy Crisis,” Public Utility Fortnightly, February 15, 2001.
  • “Gas Pains,” Electric Perspectives, January/February 2001.
  • “Managing the Transition from Regulated Electric Utility to Energy Marketing Company,” The Electricity Journal, January/February 1997, pp.72-78.
  • Guest Editorial: “Leadership Choices for Electrical Utilities,” The Electricity Journal, January/February 1997, pp.88-89.
  • “Why Energy Futures Markets Merit Support Amid Latest Controversy,” Oil and Gas Journal, February 10, 1997, p. 6. (link)
  • “Marketing BTUs: Gas, Electricity Lead Oil in Innovation,” Oil and Gas Journal, November 4, 1996, p. 45. (link)
  • “Seeing Both Sides,” Energy & Power Risk Management, July/August 1996.
  • “A Milestone Year: Power in the Commodity Markets,” (with Vito Stagliano), Public Utilities Fortnightly, May 15, 1996, pp. 32-36. (link)
  • “Hunters or Hunted?” Managed Derivatives, May 1996, pp. 14-15.
  • “Energy Markets Grow Up,” Energy Risk, March 1996.
  • “The Industry’s Use of Derivatives: Still Early Days,” Middle East Economic Survey, 7 August 1995.
  • “The Loneliness of the Long-Distance Hedger,” Energy Risk, July 1995.
  • “Imposing U.S. Rules on Reluctant Global Markets: The Case of Oil,” The Nikkei Weekly December 26, 1994.
  • “The Profit Motive,” Energy Risk, Vol. 1, No. 10, Nov. 1994, pp. 15-16.
  • “The Fall of OPEC and the Rise of the Paper Markets,” OPEC in Crisis, Oil Price Implications in the 1990s, Centre for Global Energy Studies, 1994 (proceedings of the Fourth CGES Conference).
  • “The Commanding Heights: International Oil in a Changing World,” International Affairs, Vol. 69, No. 1, Jan. 1993, pp. 71-89.
  • “US Energy Interests in the Gulf in the 1990s,” in Charles F. Doran and Stephen W. Buck, eds., The Gulf, Energy and Global Security (Boulder: Lynne Rienner Publishers, 1991).
  • “Oil in the 1990s: Boom or Bust ?” in Federal Reserve Bank of Dallas, Defining the Decade (Kluwer Academic Publishers, 1991).
  • “The Fundamentals of the World Oil Market of the 1980s,” in Wilfrid Kohl (editor), After the Price Collapse: OPEC, The United States, and the World Oil Market, (Baltimore, MD: The Johns Hopkins University Press, 1991).
  • “Revitalizing U.S. Oil Security Policy,” The SAIS Review, Summer 1989.
  • “Evolution and Reform: The Art of Transition in Energy Pricing,” Natural Resources Forum, (New York: United Nations, 1988).
  • “Oil: The Search for Stability,” The World in 1987, The Economist Intelligence Unit, November 1986, p.95.
  • “Oil Pricing in Developing Countries,” The Energy Journal, Spring 1987.
  • “Assessing the Price Plunge and What Lies Ahead” (with Joe Roeber), Petroleum Intelligence Weekly, March 3, 1986.
  • “The Saudis Raise the Ante,” Platt’s Oilgram News, December 30, 1985.
  • “Asian Oil Futures,” Petroleum News, April 1985, pp.11-14.
  • “A Roadmap to World Oil Stocks in the 1980s,” Petroleum Intelligence Weekly, (Special Supplement), February 11, 1985.
  • “The Domestic Refining Industry,” (with Colglazier, et.al.), Oil Shock, (Cambridge, MA: Ballinger, 1984).
  • “Growing Influence of Oil Stocks,” Petroleum Economist, June 1983.
  • “The Strategic Petroleum Reserve: Missions in Conflicts Involving Oil Resources,” in Taylor, et.al., Strategic Responses to Conflicts in the 1980s (Georgetown Center for Strategic and International Studies), 1983.
  • “Oil Stockpile Management and the Stability of the World Oil Market in the 1980s” in E.A. Deagle, Jr., The Future of the International Oil Market (New York: Group of Thirty), 1983.
  • “Developing Countries: Methods of Controlling Oil Prices,” Petroleum Economist, December 1982.
  • “Preparing for an Oil Crisis: Elements and Obstacles in Crisis Management,” in H. Landsberg, ed.  Selected Studies in Energy (Cambridge: Ballinger Publishing Co.), 1980.

 

Education

Bachelor of Arts, International Affairs: University of North Carolina, Chapel Hill, 1970.

Master of Arts, International Affairs: University of Chicago, 1974.

Ph.D, International Affairs: Johns Hopkins University School of Advanced International Studies, 1991.

Anbaric and Ontario Teachers’ Announce Clean Energy Development Partnership

Anbaric and Ontario Teachers’ Pension Plan announce a new development company Anbaric Development Partners . The partnership will develop clean energy infrastructure projects in North America, accelerating the revitalization of aging transmission networks. (Read More)

Anbaric: A Company Overview

 

 

 

Anbaric Microgrid

Residents, businesses, and policymakers alike have called for microgrid development in New York. Anbaric and Exelon have responded with Anbaric Microgrid, an initiative that will establish large-scale microgrids ranging from 10 to 200 megawatts at strategic locations throughout the state. (Read More)