The goal of the course is to introduce the student to electricity supply industry and the concepts from microeconomics that are essential for the understanding of electricity markets. The course focuses the analysis of the operation of power systems in a competitive environment with key focus on the operation of energy markets.
The objective of the course is directed at the following learning outcome and competences:
acquiring knowledge about microeconomics and electricity markets
developing a solid understanding of how electricity markets operate in a competitive and monopolistic environment.
help them develop innovative solutions to problems that vary in subtle ways from country to country, from market to market and from company to company.
Total hours are 135 of which 45 h scheduled studies and 90 h autonomous studies.
The assessment of student’s own learning 1h is included in contact lessons.
Models of competition, basics of microeconomics, electricity markets, and participating in ancillary markets and investing in generation.
Fundamentals of Power System Economics, 2004, Daniel Kirschen Goran Strbac
Opetusmuoto / Opetusmenetelmät
Lectures, Teamwork and Project work.
1: The student is able, with guidance, to utilise the methods learnt during the study unit.
3: The student is able to utilise the methods learnt during the study unit independently.
5: The student is able to utilise the methods learnt during the study unit independently and is able apply the learnt knowledge in new contexts.
Active participation, team works, exams and project work.