Course Overview

The wholesale market begins with generators, which, after securing the necessary approval, connect to the grid and generate electricity. The electricity produced by generators is bought by an entity that will often, in turn, resell that power to meet end-user demand.

These resale entities will generally buy electricity through markets or contracts between individual buyers or sellers. In some cases, utilities may own generation and sell directly to end-user customers.

Learn about traditional and evolved wholesale electricity markets. Utilities in traditional markets are frequently vertically integrated – they own the Generation, transmission and distribution systems used to serve electricity consumers.

Wholesale physical power trade typically occurs through bilateral transactions, and while the industry had historically traded electricity through bilateral transactions and power pool agreements

Course Outcomes

Understand the basics of:
a) to understand the fundamental micro economic principles underpinning electricity markets;
b) to discuss different wholesale electricity market models adopted by various countries;
c) to discuss the role of scarcity pricing and capacity mechanisms and efficient design rules for balancing and reserves;
d) to review the challenges associated with the evolution of the part of TSOs and DSOs;
e) to discuss the potential for market power and present measures to mitigate market power;
f) to explain the long-term investment incentives, the impact of regulatory interventions on these incentives,
and the critical elements of a sustainable market framework to support investment for the energy
transition;
g) Discuss the tension between the theory underpinning energy markets and the concrete implementation issues in

Topics

a) Basics of Power Systems
b) Security Constraints Economic Dispatch
c) Ancillary Services and Capacity Markets
d) Scheduling, balancing and Congestion
e) Market Monitoring and Congestion
f) RTO-ISO and State Regulators
g) Evolution of EU Electricity Market
h) Risk Management
i) EU Clean Energy Package
j) Optimal Expansion Planning
k) Trans boundary Regulatory Capture