(ECO 428) Electricity Economics

3 Credits

Course focuses on the intersection between economics & electricity systems, and market structures available in the electric energy industry. Background provided on basic economic theory applied to power systems to understand operations objectives, pricing & incentives, as well as non-perfect competition situations that arise in the network. Different dispatch optimization problems used in electricity market restructuring, approaches to solving these, and the existence of non-convex markets will be discussed. Credit not given for both ECO/ ECE 328 and ECO/ ECE 428 .