The target of the course is to understand the new organization of electricity markets and to give to the students the knowledge to operate. The course starts from the basics of the electricity economics and the principles of regulation and aims at giving the skills to successfully operate either as seller, buyer or trader.
The lessons are related to the following topics:
Price regulation; organization of the electricity industry. Plant dispatch and merit order: generation in a competitive market. Contracts. The operation of the power exchange and the capacity market. The transmission line: benefits of the interconnection and optimal transmission capacity. Congestion management. The markets for the environment: green certificates, carbon credits, energy efficiency. Financial products for the power market. The electricity prices: comparing different contracts. Principles of finance for hedging electricity contracts.
Some electricity policy documents will be read and discussed in class.