Electricity Systems

Prerequisites & course information

Explore the locational marginal pricing (or nodal) model of organized or centralized day-ahead and real-time electricity markets. Investigate the solution of power flow, formulate optimal dispatch as an optimization problem, consider offer-based economic dispatch, transmission and unit commitment issues. Discuss pricing rules and incentives in markets, particularly in the context of transmission limits. Examine energy and transmission price risk hedging, network models, and capacity adequacy.