Study Programmes 2015-2016
ELEC0018-1  
Energy Market
Duration :
45h Th, 15h Pr
Number of credits :
Master in electrical engineering (120 ECTS)5
Master in electro-mechanical engineering (120 ECTS)5
Lecturer :
Damien Ernst
Language(s) of instruction :
English language
Organisation and examination :
Teaching in the second semester
Units courses prerequisite and corequisite :
Prerequisite or corequisite units are presented within each program
Course contents :
Short description
Energy markets are complex models where many actors (e.g., producers, regulators, consumers, transmission system operators) interact together. They raise many technical, economical and societal problems. This class focuses mainly on electricity markets. Its goal is to give a clear and synthetic vision of electricity markets, and the many issues that they raise, due to the very specific nature of the electrical commodity. The four first lessons of this class are based on the book "Fundamentals of economics". They have as objective to allow students to learn the basic concepts of electricity markets. The eight next lessons will tackle more advanced problems and will mainly be given by invited speakers.
 
Learning outcomes of the course :
At the end of the class, the student will have an excellent knowledge of electricity market. He will also learn how to analyze specific problems that may arise in this field and answer them in a very autonomous way. He will also improve his presentation skills.
Prerequisite knowledge and skills :
The student is supposed to have very basic knowledge about power system dynamics and control, and optimisaton. He must also have a good knowledge of the English language.
Planned learning activities and teaching methods :
The first classes will be articulated around plenary lectures, presentations of the students and supervised group sessions during which the student will work on a project. Afterwards, classes will be given by invited speakers working in the industry, the government or the academia.
Students are obliged to attend the diffent classes as well as to prepare oral presentations on subjects that will be defined during the class.
Classes are given in English
Mode of delivery (face-to-face ; distance-learning) :
Face-to-face
Recommended or required readings :
Course material available : http://www.montefiore.ulg.ac.be/~ernst/ Reference book (non mandatory) : "Fundamentals of Power System Economics". Daniel S. Kirschen and Goran Strbac, Wiley, 2004.
At the final oral exam, the students must have a good knowledge of all the material seen during the class.
Assessment methods and criteria :
The presentations made during the year by the students will account for 12 points out of 20 (6 for the regular presentations during the class and six for the presentation of the project.  The oral exam will account for 8 points.
Work placement(s) :
Organizational remarks :
Every thursday during the first quadrimester, from 2pm to 6pm, room R18 of the Montefiore Institute.
Contacts :
Prof. Damien Ernst University of Liège Institut Montefiore, B28 B-4000 Liège BELGIUM Tel: +32 4 366 9518
Email: dernst@ulg.ac.be Recommanded contact mode : by email.