Economy and Electricity Market - Overview

*This course is given as a package together with Economy and electricity market - analysis 2,5 ECTS.* The ongoing electrification places increasingly high demands on the power system, which must have power balance, that dynamic stability must be maintained and that limited transmission capacities must be taken into account. The economic processes related to the power system are an important part of maintaining an efficient and robust power system and affect all actors. The purpose of the course is to provide knowledge of the economy and electricity market related to the power system as well as to provide an overview of the background to the various economic processes and the connection to maintaining a stable power system. Topics included in the course are: - review of basic economic terms and calculations for investments in electricity production, energy storage and grids. The structure of the electricity market with different stake holders and different roles. Description of how deliveries of electricity are sold on fixed contracts and on the spot market and how price hedging can be done on the spot price. - review of Nordpool and the markets and players that exist. Description of trading on the day ahead (D-1) and the intraday (same day). Balance responsibility, balance responsibility role and costs of imbalances. The New Nordic Balancing Model, NBM. - the balancing process within the operating hour with ancillary services and remedial measures. - structure of bidding zones, how pricing takes place within a bidding zone and how congestion income arises. - description of the revenue framework and how the electricity network prices that may be set are regulated. Description of how electricity network tariffs are structured for production, consumption, energy storage for both companies and private individuals. SCHEDULE There is the option to participate on site or digitally and the lectures will also be recorded. We recommend participating on site if possible as there is a great potential for exchange of experiences between course participants.<br> The course includes three lectures and a seminar: From the start of the course, the updated schedule will apply on the course's Canvas page.