Syllabus for Market Operations in Electric Power Systems

Marknadsverksamhet i elkraftsystem

Syllabus

  • 5 credits
  • Course code: 1TE733
  • Education cycle: Second cycle
  • Main field(s) of study and in-depth level: Renewable Energy Production A1N

    Explanation of codes

    The code indicates the education cycle and in-depth level of the course in relation to other courses within the same main field of study according to the requirements for general degrees:

    First cycle
    G1N: has only upper-secondary level entry requirements
    G1F: has less than 60 credits in first-cycle course/s as entry requirements
    G1E: contains specially designed degree project for Higher Education Diploma
    G2F: has at least 60 credits in first-cycle course/s as entry requirements
    G2E: has at least 60 credits in first-cycle course/s as entry requirements, contains degree project for Bachelor of Arts/Bachelor of Science
    GXX: in-depth level of the course cannot be classified.

    Second cycle
    A1N: has only first-cycle course/s as entry requirements
    A1F: has second-cycle course/s as entry requirements
    A1E: contains degree project for Master of Arts/Master of Science (60 credits)
    A2E: contains degree project for Master of Arts/Master of Science (120 credits)
    AXX: in-depth level of the course cannot be classified.

  • Grading system: Fail (U), Pass (3), Pass with credit (4), Pass with distinction (5)
  • Established: 2018-03-06
  • Established by:
  • Revised: 2018-08-30
  • Revised by: The Faculty Board of Science and Technology
  • Applies from: week 30, 2019
  • 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. English language proficiency that corresponds to English studies at upper secondary (high school) level in Sweden ("English 6").
  • Responsible department: Department of Electrical Engineering

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,
  • analyze and apply load and price forecasting,
  • explain and apply both price-based and security constrained unit commitment,
  • explain and apply transmission pricing and congestion,
  • analyze 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.

Reading list

Reading list

Applies from: week 30, 2019

  • Gan, Deqiang; Feng, Donghan; Xie, Jun Electricity Markets and Power System Economics

    CRC Press, 2013

    Find in the library