Overordnede kursusmål
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.
Læringsmål
En studerende, der fuldt ud har opfyldt kursets mål, vil kunne:
- Explain the fundamentals of electricity markets, various
markets and actors
- Describe the impact of renewables on electricity markets
- Explain the market-clearing process from both optimization and
equilibrium perspectives
- Write and solve relevant game-theoretic and optimization
problems for electricity markets
- Design and apply offering strategies for both price-taker and
price-maker actors in electricity markets
- Implement unit commitment constraints and quantify reserve
requirements for a power system
- Implement some of these models in GAMS, Julia and Python
- Analyse and present the results to a broad audience
Kursusindhold
The course covers four major topics. In the first part, the various
types of electricity markets are described, with emphasis placed on
market-clearing procedures and their formulation as optimization
problems. We aim at understanding and analysing the impact of
renewable energy on the market-clearing outcomes, and on the
revenues or participants. In the second part, we interpret
market-clearing problem from a game-theoretic perspective. We then
model and analyze the interaction of market actors through various
game-theoretic models. In the third part, the course will focus on
the problem of designing optimal offering strategies in electricity
markets with high penetration of renewable energy sources, and
valuing these strategies in practice. We will explore optimal
offering strategies for both price-taker and price-maker actors. In
the last part, we will incorporate the operational unit commitment
constraints of conventional generators into market-clearing
problem. We will then focus on quantification of required reserve
for renewable-based electricity markets.
Bemærkninger
E-learning anvendes i form af podcast lectures, interactive quiz,
chat room, discussion board/blog og web-based tools.
Sidst opdateret
22. april, 2021