Course - Power Market Theory - ET8208
Power Market Theory
New from the academic year 2010/2011
About
About the course
Course content
Security of supply and vulnerability
Security of supply, specifically related to incentives for investment in generation, but also transmisson, is an unsolved challenge in today's power markets. The course will discuss the background of the problem and introduce presently implemented and proposed solutions.
Transmission pricing including constraint handling
Various methods for transmission pricing and transmission constraint handling are presented and analyzed. Focus on flow-based market splitting, which is an evolution and generalization of the price area model used in Norway. Transit through other control areas.
Market power
Alternative models for analysis of market power in power markets. Market power in relation to transmission constraints. How is market power measured, what can be done to reduce or avoid market power. International practice and experience.
Ancillary services
Handling of ancillary services in various power markets.
Demand flexibility
Present power markets are mostly one-sided: producers are active market participants, while consumers are more or less passive. This has a number of negative effects, and development of a more flexible demand side will result in substantial improvements. Backround, opportunities and developments.
Learning outcome
The course will give a thorough understanding of a number of central issues in power markets, as well as methods an theories that are in use or proposed to solve these issues.
Learning methods and activities
Lectures and mandatory excercises.
The course is given every second year, next time autumn 2010.
Recommended previous knowledge
Corresponding to subjects TET4115 Power systems, TIØ4120 Operations research, TET4135 Energy planning and TET4185 Power markets.
Course materials
To be given at the start of the semester.
Subject areas
- Electrical Power Engineering
- Technological subjects
- Economics