Module Descriptions

Module: Economic Principles of Electricity Markets (5 or 6 ECTS)

LV-Nr.: 30636

Type of course: Lecture (2 SWS) and tutorial (2 SWS)

Content

This class provides an introduction to the economic principles of electricity markets. We first discuss wholesale markets and how the interaction of supply and demand determines time- and location-dependent electricity prices. We further study the German market as well as other selected international markets to understand how market design choices impact price building as well as the integration of renewable energies. We finally learn how electricity markets can be modelled using common programming languages and how such models can be used to study policy-relevant questions, such as the phase-out of nuclear power plants or the introduction of a CO2 price. The lecture will further include a discussion of other topics relevant to the decarbonization of electricity, such as different tools for CO2 pricing, policies supporting renewable energies, and demand-side measures.

Language of instruction: Englisch

Exam type: written or oral examination (50%) and contribution (50%)

You find further information in cmLife.

Module: Solving economic dispatch and investment problems in electricity markets

LV-Nr.: tba

Type of course: Research module

Content

Participants in electricity markets face several optimization problems. How should a battery operator operate at the wholesale market? How should a fleet of electric cars be charged? How much photovoltaics should a homeowner invest in? In this course, participants analyze a relevant operational problem, formalize it, and implement solution strategies in a relevant programming language. Participants further use real-world data, such as from electricity markets, to evaluate their strategies. The class prepares students for jobs in energy economics, such as trading in utilities and aggregators, planning in grid operators, and policy making.

The class starts with a session introducing students to relevant operational and investment problems in energy economics as well as relevant solution strategies. After that, students independently work on their research projects. The class concludes with student presentations.

Admission requirements

Participants are recommended to join the lecture of “Economic Principles of Electricity Markets” (not mandatory).

You find further information in cmLife.