Electricity markets

Course title: Electricity markets

Code: FEIT09L015

Number of credits (ECTS): 6

Weekly number of classes: 3+1+1+0

Prerequisite for enrollment of the subject:

Course goals/Competences: This module is designed to give the students an understanding of the economic principles underlying the introduction of competition in electricity generation and supply and the opening of the transmission and distribution systems to third party access. At the end of this module students will be able to: Explain the objectives and principles of the market-based operation of power system, Discuss alternative organizations of electricity market place, Discuss the role of regulation of monopolies, Explain approaches to investment in transmission in a competitive environment, Discuss alternatives for congestion management and Explain the basic principles of National and EU electricity legislative framework.

Total available number of classes: 180

Curriculum: Introduction; Objectives and principles of the market-based operation of power system; Alternative organizations of electricity market place; The need for organized market places, Types of electricity markets, Spot-market, Power exchange, Bilateral contracts, Ancillary services market, Balancing energy market; The role of regulation of monopolies, Regulated electricity activities - Transmission and Distribution and System Operators, Costs of transmission and distribution companies, Basic regulatory approaches; Decentralized trading over a transmission network, Centralized trading over a transmission network, The role of congestions; Investments in generation; Investments in transmission system; Basic principles of National and EU electricity legislative framework.

Literature: