Why This Course?

As the quest for energy security increases, the need to have sustainable capacity building is equally required. This unique course has been developed to cover the whole spectrum of the energy supply industry taking into consideration the emerging technical issues such as energy transition. It explores the principles underlying economic regulation, tariff setting and technical topics in power systems, optimization, and economics as presented in a mathematically rigorous fashion. It covers both the petroleum and the electricity sectors to give learners a thorough understanding of the sectors. Under the electricity sector, the modules cover electricity production, electricity transmission & infrastructure, electricity delivery & consumption, trading of power, power derivatives, power trading platforms and operations of both bilateral and power pooling. The facilitators will explain in detail all aspects of wholesale electricity markets with associated operational and commercial elements.

Under the petroleum sectors, the course covers a variety of theoretical and empirical topics related to energy demand, energy supply, energy prices, environmental consequences of energy consumption and production, and various public policies affecting energy demand, supply, prices, and environmental effects.

The entire certificate programme includes various modules, study materials, an exam and certification.

OBJECTIVE

This course introduces the economic, technological, and political forces that shape the global energy industry, the concepts and methods used by regulators to guide the industry, and the private sector business models that emerge. The course begins by framing the industry in its microeconomic context and proceeds to explore the role of technology and innovation, global markets and geopolitics, and the regulation of externalities including acid rain and climate change. The readings and coursework will use specific examples from the power, renewables, oil & gas, and environmental sectors from the African context to illustrate these forces in context.

The aim of the course is to:

1. discuss the fundamental microeconomic principles underpinning electricity markets;
2. discuss different wholesale electricity market models adopted by various countries;
3. discuss the role of scarcity pricing and capacity mechanisms and efficient design rules for balancing and reserves;
4. review the challenges associated with the evolution of the part of TSOs and DSOs;
5. discuss the potential for market power and present measures to mitigate market power;
6. 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;
7. provide information and knowledge of energy economics specific to Petroleum
8. create awareness and understanding of international standards and concepts related to Petroleum companies and projects
9. acquire the necessary skills and experience to train other professionals regarding best practices of petroleum economics
10. acquire the required analytical skills to accurately assess Petroleum supply and demand
11. gain the skill set and capabilities to work with various energy models to increase efficiency and overall delivery
12. acquire the expertise to assess risks, alter course for effective resolutions at the earliest

1.5       ADMISSION REQUIREMENTS

The minimum entry requirement to the Ordinary Diploma in Energy Economics and Regulations (ODEER) is one of the following:

•  Technician Certificate (NTA Level 5) in Engineering or Business related programmes, Higher Diploma (NTA Level 7) or, Bachelor Degree (NTA Level 8) in any field of study, OR,
• Holder of Advanced Certificate of Secondary Education Examinations with First or Second Division in any combination that has Economics or Science.

Course Modules