Course - Electricity Markets and Energy System Planning, Specialisation Course - TET4565
Electricity Markets and Energy System Planning, Specialisation Course
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About the course
Course content
The specialisation course is aimed to explore the advanced aspects of electricity market design for ensuring power system operational flexibility. The course is divided into two modules as below:
- Power Market Optimisation Under Uncertainty, Decomposition and Hydropower Planning
- Flexibility in power grid operation and planning and local markets
The first module: This module educates students on formulating and solving optimization problems in the energy market and production planning under uncertainty, employing decomposition techniques for complex, large-scale scenarios. It highlights the differences between making optimal decisions under uncertainty compared to deterministic conditions. Additionally, the course provides practical skills in developing optimization problems, data management, and applying various strategies and models for hydropower scheduling across multiple time frames and scales.
The second module: This module aims to give a deeper insight into the research and development of projects on power system flexibility (in general), flexibility in grid operation, and flexibility in grid planning. Topics covered also include load analysis and load modelling, demand-side flexibility, operational planning, energy storage scheduling, security of electricity supply, long-term grid planning, and socio-economic cost-benefit analysis, with a focus primarily on distribution system applications. Focus is mostly on distribution system applications, but a large part of the concepts and methods covered in the course are also applicable to transmission systems. The course module aims to be both practically oriented and based on recent research and developments on the topic.
Learning outcome
The goal is to provide the student with an increased scope of understanding the practical relevance of power systems and market participant needs, and its derivatives from a research perspective:
- To develop a working knowledge of hydropower scheduling.
- To develop skills in formulating and solving complex optimization problems within energy markets and production planning, particularly under conditions of uncertainty.
- To acquire practical skills in structuring optimization problems, managing data effectively, and utilizing various optimization techniques and models, specifically tailored to hydropower scheduling across different scales and timeframes.
- To enhance proficiency in stochastic and dynamic programming, applying these methods to multi-stage problems in energy systems, with a focus on both theoretical and practical aspects of energy system optimization.
- Understand power system flexibility and how it can be realized and utilized in power system operation and planning
- Gain knowledge about current industry practices within distribution grid operation and planning (focusing on Norway), and trends and research related to flexibility that may shape future practices.
- Become familiar with reading scientific publications to be able to utilize the findings for your own work (for the master project and in any subsequent research and development and innovation)
- Become familiar with working with data sets (grid models, load data, flexibility data…) and developing Python code to use them in power system analysis (simulation and optimization of energy and power flows…) To formulate and analyse support tools for distribution systems
Learning methods and activities
Lectures, and project assignment. The course is given in English.
Further on evaluation
Students are expected to work on a group project related to the content of this course and based on their specialisation project topic. Grading will be based on the submitted project report and any subsequent discussions. The project deliverables are outlined in the project assignment. Primarily, we require a brief and concise report, significantly shorter than the specialization project thesis. Additionally, the code must also be submitted. Individual clarifications will be sought from the group work as needed, to explain and discuss any part of the assignments submitted. All students should be able to explain all parts of the project. In grading, we assess the following qualities:
- Clarity in Problem Explanation: The ability to clearly define the concepts relevant to each task within the problem and to formulate and accurately apply key optimisation principles.
- Code Quality: The readability, structure, and elegance of the code.
- Presentation of Results: The effectiveness and pedagogical approach in presenting the results.
- Analytical Precision and Reflection: The precision in utilizing optimization results to address the predefined tasks, and the maturity in reflecting on the generality and limitations of the conclusions.
- Demonstrating knowledge and understanding of concepts covered in the lectures and elaborated in the recommended reading material for the module
Specific conditions
Admission to a programme of study is required:
Electric Power Engineering (MSELPOWER)
Energy and the Environment (MIENERG)
Energy and the Environment (MTENERG)
Recommended previous knowledge
TET4135 Planning and operation of energy systems or corresponding knowledge; TET4185 - Power Markets, Resources and Environment; TET4205 - Power System Analysis 2 or equivalent courses.
Required previous knowledge
The student can remain with a maximum of three courses from the underlying year. Prior knowledge corresponding to the courses indicated under recommended prior knowledge cannot be included in the subjects that are missing.
Course materials
- Class slides and any other material uploaded on Blackboard
- Recommended Reading Material (RRM): is outlined in the slides
More specific information will be given during the lectures.
Subject areas
- Electrical Power Engineering
- Technological subjects