Electricity Market, Energy Economics & Strategic Planning
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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