Duration
39h Th, 13h Pr
Number of credits
Lecturer
Language(s) of instruction
English language
Organisation and examination
Teaching in the first semester, review in January
Schedule
Units courses prerequisite and corequisite
Prerequisite or corequisite units are presented within each program
Learning unit contents
Energy markets form highly complex structures involving a wide range of stakeholders (e.g., producers, regulators, consumers, and infrastructure managers), presenting numerous technical, economic, and social challenges.
This course focuses primarily on electricity markets, aiming to provide a clear and concise understanding of how these markets operate, as well as the unique challenges posed by the distinctive nature of electricity as a commodity.
In addition to the lectures, guest speakers from key industry players-including producers, retailers, and regulators-will give lessons on various specialized topics, providing practical insights and real-world perspectives on the energy sector.
Through these sessions, students will be introduced to key theoretical concepts related to energy markets, with a specific emphasis on electricity markets. The course will cover:
- Liberalization, market structure, and key stakeholders;
- Market types and mechanisms;
- Grid security and demand supply assurance;
- The impact of renewable energy integration;
- Interconnections with other markets (gas, CO2, oil).
Learning outcomes of the learning unit
At the end of the class, the student will have an excellent knowledge of energy markets. He will also learn how to analyze specific problems that may arise in this field and answer them in a very autonomous way.
Additionally, they will have developed analytical skills to address specific challenges in this field and respond to them independently.
This course contributes to the learning outcomes III.1, III.2, IV.1, IV.6, VI.1, VI.2, VII.2, VII.3, VII.4, VII.5 of the Master of Science in Energy Engieneering.
Prerequisite knowledge and skills
The student is expected to have basic knowledge of power grid dynamics, control systems, and optimization. As the course is taught in English, a good command of the language is also required.
Planned learning activities and teaching methods
The classes will include different elements: theoretical courses, analyses of scientific articles and evaluations. Part of the theoretical material will be taught through inverse teaching.
Mode of delivery (face to face, distance learning, hybrid learning)
Face-to-face course
Course materials and recommended or required readings
Other site(s) used for course materials
- Site Web Damien Ernst (https://damien-ernst.be/teaching/elec0018-1-energy-markets/)
Further information:
The teaching material will be accessible on the class website, see: https://damien-ernst.be/teaching/elec0018-1-energy-markets/
Exam(s) in session
Any session
- In-person
oral exam
Continuous assessment
Out-of-session test(s)
Further information:
The evaluation consists of three parts: 25% for the evaluation of scientific reading assignments, 25% for the reading assignment presentation and 50% for the oral examination at the end of the year. The presentation and evaluation grades will be retained for the second session but the one for the presentation can be improved.
Attending the course and the guest lectures is mandatory to take the exam.
Work placement(s)
Possibility for motivated students to do a research internship or a master thesis in the electricity markets field.
Organisational remarks and main changes to the course
See class website: https://damien-ernst.be/teaching/elec0018-1-energy-markets/