About this course
Electricity markets are today central in the way we exchange electricity. The increasing penetration of renewable energy sources in power systems has a substantial and complex impact on these electricity markets. In this context, the objective of this course is to introduce the students to the fundamental aspects of renewable energy in electricity markets, from the point of view of both market operators and market participants.
Learning outcomes
At the end of the course the learner will be able to: Explain the fundamentals of electricity markets Explain various markets, actors, and pricing mechanisms Explain the market-clearing process from both optimization and equilibrium perspectives Describe the impact of renewables on electricity markets Develop mathematical models including optimization and equilibrium problems for clearing various electricity markets Design mathematical models for market participants enabling them to make optimal offering strategy decisions under uncertainty Implement some of these mathematical models in Julia or Python Present, analyze, and interpret the numerical results
Examination
There is no final exam. All exercises must be handed in. The assessment is based on the gruop-reports. If one or both of the reports is not handed in it will not be possible to pass the course.
Course requirements
Students must be familiar with the principles of optimization and linear programming, including duality and optimality Karush–Kuhn–Tucker (KKT) conditions.
Resources
Activities
Lectures, exercises, computer exercises, project work.
Additional information
- Institution locationAnker Engelunds Vej 1, Online
- More infoCoursepage on website of Technical University of Denmark
- Contact a coordinator
- CreditsECTS 5
- LevelMaster
- Contact hours per week4
- InstructorsJalal Kazempour
- Mode of instructionHybrid
Offering(s)
Start date
3 February 2025
- Ends12 May 2025
- Term *unknown
- LocationOnline
- Instruction language
Enrolment period not yet defined