Examination arrangement

Course content

This course covers topics essential for understanding fundamentals and concepts surrounding the power markets. Emphasise is put on the Norwegian/Nordic solution. The course comprises background information about generation planning and trade in an open market. We will discuss a number of topics including microeconomic basics for power markets, system operation, tariffs, congestion management, optimal power flow and nodal pricing, market coupling, capacity markets, ancillary services and balancing power market, grid regulation and consideration for recourses and the environment.

Learning outcome

Knowledge: After completing the course, the student will be able to recognise, analyse, and assess: - How deregulated power markets work (understand the significance of the different power market mechanisms) - How generation planning is done - How grid companies and the system operators attend to their responsibilities Skills: After completing this course, the student will be able to: - Describe methods to handle transmission congestion in power markets - Perform optimal power flow calculations (find nodal prices) - Do power market analysis by means of available models - Formulate market simulation problems with mathematical expressions General competence: After completing the course, the candidate has increased: - Skills in cooperation and interdisciplinary collaboration - Ability to communicate effectively to professionals and non-specialists alike through reports and presentations - Ability to contribute to innovation and innovation processes

Learning methods and activities

Lectures, exercises, and project assignment. The course is given in English.

Compulsory assignments

• Assignment 1
• Assignment 2
• Assignment 3
• Assignment 4
• Assignment 5
• Assignment 6

Further on evaluation

The final evaluation will be based on the project assignment (counting 100%) based on % fulfilment. Final grading will be from A to F. If failed in the project assignment, the student should resubmit an improved project in a re-sit submission. In the case that the student receives a F/Fail as a final grade after both ordinary assessment and re-sit, then the student must retake the course in its entirety. Submitted work that counts towards the final grade will also have to be retaken.

Recommended previous knowledge

TET4155 Infrastructure for Energy Transmission and Distribution TET4135 Energy system planning and operation or similar.

Course materials

Textbook and additional material provided during the course. More information is provided at the start of the course.

Credit reductions