Restructured Electricity Markets: Locational Marginal Pricing
Examine locational marginal pricing (LMP) model of electricity markets. Explore market dispatch formulated as an optimization problem, unit commitment issues, and pricing rules and incentives in markets; energy- price and transmission-price risk hedging and energy network models; and revenue adequacy of financial transmission rights, a mixed-integer programming approach to unit commitment, the representation of voltage constraints into market models, and the design of electricity markets to mitigate market power. Only one of the following may be counted: Electrical and Computer Engineering 394 (Topic 16), Electrical Engineering 394 (Topic 16), 394V (Topic: Res Elect Mrkts: Loc Marg Pric).
Prerequisites & course information
Examine locational marginal pricing (LMP) model of electricity markets. Explore market dispatch formulated as an optimization problem, unit commitment issues, and pricing rules and incentives in markets; energy- price and transmission-price risk hedging and energy network models; and revenue adequacy of financial transmission rights, a mixed-integer programming approach to unit commitment, the representation of voltage constraints into market models, and the design of electricity markets to mitigate market power. Only one of the following may be counted: Electrical and Computer Engineering 394 (Topic 16), Electrical Engineering 394 (Topic 16), 394V (Topic: Res Elect Mrkts: Loc Marg Pric).
Sources
- Course catalogue ↗2026-2027