-
Presentation
Presentation
This curricular unit aims to study energy markets and their future challenges, with special relevance to electricity markets. The curricular unit aims for students to understand the implications of current market functioning and its future evolution and consequent impact on planning and system operation.
-
Class from course
Class from course
-
Degree | Semesters | ECTS
Degree | Semesters | ECTS
Bachelor | Semestral | 5
-
Year | Nature | Language
Year | Nature | Language
3 | Mandatory | Português
-
Code
Code
ULP732-10370
-
Prerequisites and corequisites
Prerequisites and corequisites
Not applicable
-
Professional Internship
Professional Internship
Não
-
Syllabus
Syllabus
Section I - Energy Markets – Overview Electricity markets and their purpose: Past, present and future Reasons for electricity market restructuring Section II - Electricity market models: Next day market Intraday Markets Market participants and regulation MIBEL Operation – Iberian electricity market The impact of renewable energy on electricity markets Section III - Energy market and flexibility: The role of networks Demand Response Context and policies New actors and business models Benefits and barriers Examples of flexibility in electricity markets Challenges Section IV - Economic aspects: Costs, tariffs and prices Section V - Planning and expansion of the electrical system Section VI - Regulation and quality of service
-
Objectives
Objectives
The syllabus aims to provide students with an insight into the functioning of different energy markets, in particular, electricity markets: - Allow learning about the fundamental instruments for understanding the functioning of energy markets; - To analyse the future challenges of electricity markets due to the energy transition, as well as understand the advantages and limitations associated with the introduction of flexibility in energy markets; - Understand the challenges that market failures in the energy sector pose to economic regulation. Successful attendance at this UC will allow students to understand the dynamics of energy markets, resulting from the simultaneous accommodation of different generation sources, and in particular, their flexibility. It will also allow the acquisition of knowledge regarding the design and operation of electricity markets, regulatory strategies and the design of tariff systems.
-
Teaching methodologies and assessment
Teaching methodologies and assessment
The Energy Markets curricular unit is divided into two components - theoretical classes and theoretical-practical classes. In theoretical classes, knowledge will be simultaneously transmitted either through formal exposition of content related to the course, through interpellation methods, raising theoretical questions related to the theme of the discipline, encouraging debate during classes, intervention and student participation. In theoretical-practical classes, students will be encouraged to solve problems on worksheets relating to the various themes covered in the theoretical classes of this course, to research the topics in question, which will allow the development of skills related to the preparation of written reports and carrying out oral presentations.
-
References
References
João Saraiva, José Luís Silva, Maria Teresa Leão; Mercados de Electricidade - Regulação e Tarifação de Uso das Redes, FEUP Edições, 2002. ISBN: 972-752-053-7 S. Stoft; Power System Economics, IEEE/Wiley, 2002. ISBN: 0-471-15040-1 Murray, B. (2009). Power Markets and Economics: Energy Costs, Trading, Emissions. Wiley, ISBN: 978-0-470-77966-8. Bhattacharyya, S. C. (2011). Energy Economics, Concepts, Issues, Markets and Governance. Springer, ISBN: 978-0-85729-267-4. Vários artigos publicados nas principais revistas, como Energy Policy, Energy Economics, Renewable and Sustainable Energy Reviews, Energy, Environmental Science and Policy, Environmental and Resource Economics
-
Office Hours
Office Hours
-
Mobility
Mobility
No
