Scott Adair, CEO and Co-Founder of Cascade Trading and a seasoned power and environmental commodities trader, joins Energy Untold to reflect on two decades of navigating North America’s most complex energy markets. This conversation was recorded live in Denver at Yes Energy EMPOWER 2025.

From his early years on the night shift at Powerex to managing retail books and launching his own fund, Scott shares the moments that shaped his approach to risk, timing, and intuition. We talk trading mistakes (including a 500 MW scheduling error - not his!), how he clears his head after tough days, and what it means to develop true asymmetric insight in markets flooded with data.

Scott also describes the more human side of trading—what separates great traders from good ones, why mental capacity is a finite resource, and how team dynamics shape decision-making under stress. We explore the increasing importance of environmental compliance markets, the quirks of market behavior in California, and why he believes volatility is only increasing.

This conversation offers a rare window into the mindset of a veteran trader—equal parts disciplined, curious, and grounded in experience.Recorded on March 5th, 2025

Watch the full video on ⁠YouTube⁠.

Show Notes

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