Electricity and Flexibility Markets

The subjects covered on the course are:
• Lecture 1 (Introduction):
o Course overview and passing requirements
o Introduction of assignments
o Physical and economic electricity system in Europe
o Introduction on electricity markets
o The balance of supply and demand
o Market time unit
• Lecture 2 (Costs of electricity):
o Electricity retailing
o Transmission and distribution
o Taxes
o Risk management and derivatives market
• Lecture 3 (Day-ahead and Intraday electricity market):
o Nominated electricity market operators
o Timetable of electricity market
o Market participants
o Auctions and continuous intraday market
o Pay-as-bid and pay-as-clear
• Lecture 4 (Determination of electricity price 1):
o Marginal pricing
o Order types and bidding strategies
o Block orders
o Bidding zones
o Bidding curves
o Electricity imports and exports between zones
o Price curves
• Lecture 5 (Determination of electricity price 2):
o Market coupling algorithm EUPHEMIA
o Social Welfare
o Optimization of market coupling
o Transmission capacity calculation
• Lecture 6 (Reserve and balancing markets):
o Power system reserves
o Frequency control
o Different types of reserve products
o Participation of reserve markets
o Independent aggregation
o Imbalance pricing
• Lecture 7 (Flexibility in electricity market):
o Flexibility in day-ahead and intraday market
o Impact of flexibility on electricity prices
o Flexibility in reserve markets
o Flexibility market
• Lecture 8 (Pricing of electricity distribution):
o Business model of distribution system operator
o Distribution tariffs
o Power-based tariff structures
o Transmission pricing
o Control model of grid operators
• Lecture 9 (Alternative electricity market models and assignments):
o Nodal and zonal pricing
o Pay-as-bid in day-ahead market
o PPA and Mankala
o Assignment solutions and feedback
• Lecture 10:
o Visiting lecture (topic may change)