EG3222 Electricity Market Analysis, Graduate Course 10.0 credits
The aim of the course is that the students learn methods and models for how the price is formed in an electricity market. The course comprises background information about possible ways to design an electricity market, impact from congestions, treatment of externalities such as methods to limit emissions, risk analysis and market power. Applied optimization is shown to be one suitable method to simulate market behaviour.
Education cycleThird cycle
Main field of study
Grading scaleP, F
Spring 19 P3 (10.0 credits)
Language of instruction
Form of study
Number of places
Information for research students about course offerings
Intended learning outcomes
After the course, the student should be able to
- describe the principles of how an electricity market can be organised,
- describe treatment of flexible load
- describe methods to handle congestion in power markets,
- describe methods for analyzing prices in markets with limited competition,
- describe basic methods for financial risk management in power markets,
- describe methods to handle externalities, such as environmental problems, in electricity markets,
- perform calculations of pricing in small systems with one of the above characteristics.
- analyze pricing in larger power systems with combinations of several of the above named characteristics.
- apply methods for analyzing the trade off between low prices and reliability in larger power systems,
- formulate market simulation problems with mathematical expressions,
- analyze investment dynamics in electricity markets,
- reflect on possible ways to design electricity markets.
Course main content
Electricity pricing, congestion management, hydro power, market power, environmental issues, regulation market, financial derivatives, transmission tariffs, role of the TSO, capacity investments, investment dynamics.
Lectures, home assignments, 5 h exam, project assignments.
The course is intended for Ph.D. students in electric power systems, but can also be interesting for students from other fields of electrical engineering.
L. Söder “Electricity Market Analysis”.
- EXA1 - Examination, 10.0, grading scale: P, F
The project assignments are chosen by students in agreement with their supervisors and the examiner of the course.
Requirements for final grade
- Approved home assignments.
- Passed the exam.
- Approved project assignments.
EECS/Electric Power and Energy Systems
Mohammad Reza Hesamzadeh
Mohammad Hesamzadeh <firstname.lastname@example.org>
Course syllabus valid from: Spring 2019.
Examination information valid from: Spring 2019.