Course contents

Theory and examples are presented during the lectures and are then applied by the students in a a number of home assignments:

• Electricity pricing. This assignment involves simplified models of the Nordic electricity market.
• Frequency control. In this assignment it is studied if a small system has sufficient reserves to maintain the frequency 50 Hz.
• Short-term planning of power generation. The objective of the assignment is to schedule the operation of a few power plants. An optimization problem is formulated and then solved in for example GAMS.
• Simulation of an electricity market. Here a small electricity market is analyzed using two different simulation methods (one analytical and one Monte Carlo method).

Intended learning outcomes

To pass the course, the students should show that they are able to

• describe the principles of how an electricity market can be organised,
• perform rough estimations of electricity prices,
• explain how the balance between production and consumption is maintained in an electric power system, and calculate how the frequency is affected by various events in the power system,
• formulate short-term planning problems of hydro-thermal power systems,
• apply both probabilistic production cost simulation and Monte Carlo simulation to calculate expected operation cost and risk of power deficit in an electricity market.

To receive a higher grade the students should also show that they are able to

• identify factors that have a large importance for the electricity pricing, and to indicate how these factors affect for example producers and consumers,
• determine if the frequency control of an electric power system has sufficient margins, and if necessary be able to choose between various measures to increase the margins,
• create specialised models for short-term planning problems,
• create specialised models both for probabilistic production cost simulation and Monte Carlo simulation, and to use the results of an electricity market simulation to judge the consequences of various actions in the electricity market.

Course Disposition

No information inserted

Specific prerequisites

Courses in mathematics (including probabiliy theory) 30 HEC. Swedish B or equivalent alternatively English B or equivalent.

Recommended prerequisites

Knowledge from the courses DN1243 Computer Science and Numerical Methods, part 2, SF1901 Probability Theory and Statistics, SF1861 Optimization, as well as EG2021 Power System Analysis, part 1 (or equivalent courses).

Equipment

No information inserted

Literature

”Effektiv drift och planering av kraftsystem”, Avdelningen för elektriska energisystem.

If the course is discontinued, students may request to be examined during the following two academic years.

Grading scale

A, B, C, D, E, FX, F

Examination

• LAB1 - Assignment, 0,5 hp, betygsskala: P, F
• TEN1 - Examination, 7,0 hp, betygsskala: A, B, C, D, E, FX, F

Based on recommendation from KTH’s coordinator for disabilities, the examiner will decide how to adapt an examination for students with documented disability.

The examiner may apply another examination format when re-examining individual students.

Other requirements for final grade

Written exam, approved home assignments.

Opportunity to complete the requirements via supplementary examination

No information inserted

Opportunity to raise an approved grade via renewed examination

No information inserted

Examiner

Mikael Amelin

Ethical approach

• All members of a group are responsible for the group's work.
• In any assessment, every student shall honestly disclose any help received and sources used.
• In an oral assessment, every student shall be able to present and answer questions about the entire assignment and solution.

Course web

Further information about the course can be found on the Course web at the link below. Information on the Course web will later be moved to this site.

Offered by

EES/Electric Power Systems

Main field of study

Electrical Engineering

Education cycle

Second cycle

Add-on studies

EG2060 Electricity Market Analysis

Contact

Mikael Amelin