Mini-course «Electricity Markets and Electricity Trading»

From 09 September to 13 September professor of the École Nationale de la Statistique et de l’Administration Économique (ENSAE ParisTech) Petr Tankov delivered a mini-course «Electricity markets and electricity trading»

Course description

The course discussed the electricity markets. During the course the topics regarding functioning of electrical systems and different aspects of electricity demand were presented. Students got acquainted with the basic principles of electricity trade, as well as with the principles of functioning of different kinds of markets. Special attention was paid to the mechanisms of modeling of electricity prices. In addition, stochastic models for intraday, spot and forward prices were presented.

 

Lectures 1-2. The power generation sector; electricity as a commodity. Electricity sector in the world, energy transition. Features of electricity, properties of electricity demand, transport networks. Functioning of electric systems and role of system operators.  Network stability and frequency control. Specific risks associated to intermittent renewable electricity generation. 

Lectures 3-4. Electricity markets and electricity derivatives. Ways to sell electricity. Organization of electricity markets: balancing; intraday, day-ahead, forward and capacity markets. Electricity futures and other derivative products.

Lectures 5-6. Modeling electricity prices and trading in electricity markets. Stochastic models for intraday, spot and forward prices. Trading strategies for power producers.

september_9_2019.pdf september_11_2019.pdf september_13_2019.pdf