Electricity Market, Energy Economics & Strategic Planning

07.04.2019

Istanbul

EE

US$ 4500 Per participant

1. COURSE OVERVIEW:


In  economic  terms,  Electricity  (both  Power  and  Energy)  is  a  commodity  capable  of  being  bought,  sold  and  traded. An  Electricity  Market  is  a  system  for  effecting  purchases,  through  bids  to  buy;  sales,  through  offers  to  sell; and  short-term  trades,  generally  in  the  form  of  financial  or  obligation  swaps.  Bids  and  offers  use  supply  and  demand principles  to  set  the  price.  Long-term  trades  are  contracts  similar  to  power  purchase  agreements  and  generally  considered private bi-lateral transactions between counterparties.

Wholesale  transactions  (bids  and  offers)  in  Electricity  are  typically  cleared  and  settled  by  the  market  operator  or a special-purpose independent entity charged exclusively with that function. Market operators do not clear trades but often require knowledge of the trade in order to maintain generation and load balance. The commodities within an electric market generally consist of two types: power and energy. Power is the metered net electrical transfer rate at any given moment and is measured in megawatts (MW). Energy is electricity that flows through a metered point for a given period and is measured in megawatt hours (MWh).

The market mechanisms introduced a new discipline to be used by power systems professionals. This course explores the  market  economics  and  the  associated  exposure  that  can  be  mitigated  with  financial  instruments.  The  course provides  a  good  understanding  of  the  market  structures,  the  power  and  energy  exchanges  and  the  hedging instruments  that  become  part  of  the  engineering  tool  box.  Special  attention  is  given  to  the  identification  of  Risk Exposure and Mitigation of Risk.

 

 2.  COURSE OBJECTIVES:


This  program  is  intended  to  immerse  the  participants  in  learning about  Electricity  Power  Markets:  How  they  can  be  developed, planned and implemented.   

The  full  understanding  of  Power  Markets  requires  that  any       Stakeholder  (Government,  Private  Investors,  Planners,  Regulators, Consumers and  Operators), be proficient in three basic areas:

  •   Understanding the Planning and Operating  Process.
  •   Understanding the Financial and Economic issues.
  •   Ability to deal with the risks associated with Market Uncertainties.
  •   Also, after the key Lectures on Risk Assessment and Management, the Participants are engaged in the various features of Market Case Studies culminating in a full Knowledge. And Skills related to main subject.

 

3.  COURSE CONTENTS:


  • Module (01) Risk Management
  • Module (02) Lessons Learned from other Jurisdictions
  • Module (03) Elements of Risks  (Strategic Issues)
  • Module (04) Concepts of Derivatives Part I
  • Module (05) Concepts of Derivatives Part II
  • Module (06) Option Valuation
  • Module (07) Quantitative Financial Models
  • Module (08) Market Economics
  • Module (09) Portfolio Analysis
  • Module (10) Financial Transmission Rights

 

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