Market Operations in Electric Power Systems
Syllabus, Master's level, 1TE733
- 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, 30 August 2018
- Responsible department
- Department of Electrical Engineering
Entry requirements
120 credits in science/engineering including a basic course in power systems or power system analysis. Participation in courses in optimisation theory and statistics is recommended. Proficiency in English equivalent to the Swedish upper secondary course English 6.
Learning outcomes
On completion of the 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).
If there are special reasons for doing so, an examiner may make an exception from the method of assessment indicated and allow a student to be assessed by another method. An example of special reasons might be a certificate regarding special pedagogical support from the disability coordinator of the university.