Quantitative Energy Economics [ LINMA2415 ]

> https://icampus.uclouvain.be/claroline/course/index.php?cid=LINMA2415

LINMA1702 (Optimisation methods and models I)

• Energy market design
• Economics of energy markets
• Operations research applications in energy markets
• Contemporary problems (renewables, demand response, capacity investment and risk management)

In reference to the AA standard, this course contributes to the development, acquisition and evaluation of the following learning outcomes:

• AA1.1, AA1.2, AA1.3
• AA2.2, AA2.5

More specifically, at the end of the course students will be able to:

• Understand the structure and functioning of deregulated energy markets;
• Use mathematical programming models to analyze the energy markets.

Acquired learning:

• implement mathematical programming models in Mosel and/or AMPL that can be used for addressing quantitative problems that arise in energy markets
• critically analyze contemporary energy issues (e.g. renewable energy integration, demand response, capacity investment)

• Written or oral exam, depending on the size of the class
• Course project and/or homework assignments (to be determined)

2 hours of magistral courses per week, and 2 hours of training sections per week. Homeworks and term projects will be evaluated by the instructor and/or the teaching assistant.

• Introduction to energy market modeling
• Electricity markets (unit commitment, transmission constraints, system security and reserves)
• Equilibrium models
• Investment planning
• Smart grid topics (wind / solar power integration, demand response)
• Quantitative methods (KKT conditions, mixed integer linear programming (MILP) models, modeling of risk aversion, stochastic programming)

• Course notes
• Printouts from textbooks or archived journals will be provided during lectures. A few textbooks that might be helpful as supporting material: Steven S. Stoft, "Power System Economics" / Daniel S. Kirschen, Goran Strbac, "Power System Economics"

None