Electricity markets worldwide have been restructured and deregulated since the early 1990s. Different countries have adopted different designs and structures. These structures are now being challenged by new renewable resources, new technologies and new business models. A key issue is nevertheless the competitive exchange of electricity, along with a regulatory approach to the electricity grid and businesses. An important aspect of market design is to assess the interactions between the operational and commercial aspects of the electricity markets. The objective of the course is to study electricity market design, identifying key elements of market structure, market mechanisms and regulation.
Knowledge - after completing this course, students
- have an overview of the main building blocks for deregulating and restructuring of electricity markets
- understand how the efficiency of the market depends upon the design and interaction of mechanisms for energy trade, ancillary services, congestion management, risk management, environmental measures, and regulatory policies
Skills - after completing this course, students
- are able to compare and discuss differences in chosen structure and electricity market design in different countries
- are able to identify and understand the specific market mechanisms necessary in an electricity market, i.e. mechanisms for energy trade, ancillary services, congestion management, risk management, environmental measures, and regulatory policies
General competencies - after completing this course, students
- have acquired knowledge of electricity market structures that is necessary to understand and to assess different proposed policies and measures aiming at e.g. further efficiency, the integration of new technologies, and environmental protection
- are able to professionally communicate results and opinions