Course contents *
The course covers the following main topics: the relation between the environmental impact of the power system and the design of the electricity market, stochastic planning models for power generation, grid regulation and expansion planning, and future power systems. Theory and examples are presented in lectures. The students are then applying the theory to a number of assignments. The course includes smaller assignments, which are mandatory and presented orally, as well as larger assignments, which are voluntary and presented in written reports.
Intended learning outcomes *
The aim of the course is that the students learn how renewable power generation affects operation and planning of electric power systems, and how the design of the electricity market can be adjusted then the amount of varying, renewable generation (for example wind power or solar energy) is increasing. The course is also considering additional markets that support renewable generation, for example markets for green certificates and emission trading. The course comprises theory, computation methods (in particular optimisation theory) as well as examples from reality.
To pass the course, the students should show that they are able to
• describe the principles of how an electricity market and other related markets can be organised, and analyse how the design of these markets affect renewable generation,
• perform rough estimations of electricity prices as well as analyse factors that have a large importance for the electricity pricing, and to indicate how these factors affect for example producers and consumers,
• formulate planning problems of hydro-thermal power systems in electricity markets with large volumes of varying renewable generation,
• analyse how the grid regulation affects the development of renewable generation,
• describe and explain the challenges in a power system with very large volumes of varying renewable generation,
• give a short oral presentation of the solution to a problem within power generation, environment and markets.