Market Operations in Electric Power Systems
5 credits
Syllabus, Master's level, 1TE733
A revised version of the syllabus is available.
- Code
- 1TE733
- Education cycle
- Second cycle
- Main field(s) of study and in-depth level
- Renewable Electricity Production A1N
- Grading system
- Fail (U), Pass (3), Pass with credit (4), Pass with distinction (5)
- Finalised by
- The Faculty Board of Science and Technology, 6 March 2018
- Responsible department
- Department of Electrical Engineering
Entry requirements
120 credits in Science and Technology including a basic course in power systems or power system analysis. Attended courses in optimisation theory and statistics are recommended.
Learning outcomes
After a successfully completed course the student should be able to:
- describe and explain international market structures and operation of electric power systems,
- analyse and apply load and price forecasting,
- explain and apply both price-based and security constrained unit commitment,
- explain and apply transmission pricing and congestion,
- analyse basic power system models for price optimization.
Content
Market overview in electric power systems. Market power, risk and arbitrage in electricity markets. Short-term load and generation forecasting. Electricity price forecasting. Price-based unit commitment. Security-constrained unit commitment. Introduction to generation expansion and transmission investment planning. Electricity market laboratory.
Instruction
Lectures, seminars, project work and assignments.
Assessment
Project report (2.5 credits) and assignments (2.5 credits).