Quantitative Energy Economics

linma2415  2018-2019  Louvain-la-Neuve

Quantitative Energy Economics
5 credits
30.0 h + 22.5 h
Q2
Teacher(s)
de Maere d'Aertrycke Gauthier (compensates Papavasiliou Anthony); Papavasiliou Anthony;
Language
English
Prerequisites
  • Fluency in English at the level of course LANGL1330.
  • Optimization (linear programming, KKT conditions, duality)
  • Microeconomic theory (not necessary but helpful)
Main themes
  • Electricity market design
  • Modeling of energy markets
  • Operations research applications in energy markets
  • Contemporary problems (renewable energy integration, demand response integration, capacity investment and risk management)
Aims

At the end of this learning unit, the student is able to :

1

With reference to the AA (Acquis d'Apprentissage) reference, this course contributes to the acquisition of the following learning outcomes:

  • AA1.1, AA1.2, AA1.3
  • AA2.2, AA2.5

At the end of the course, students will have learned to:

  • explain the architecture of energy markets, ranging from real-time to forward markets
  • formulate mathematical programming models that describe energy markets and regulatory interventions in these markets
  • formulate mathematical programming models that describe risk management practices in the energy sector
  • implement mathematical programming models that describe energy markets and risk management practices using AMPL
  • provide economic interpretations to the results of mathematical programming models for energy markets
 

The contribution of this Teaching Unit to the development and command of the skills and learning outcomes of the programme(s) can be accessed at the end of this sheet, in the section entitled “Programmes/courses offering this Teaching Unit”.
Content
  • Mathematical background (duality)
  • Power system and power market operations
  • Competitive equilibrium models
  • Short-term electricity market operations (economic dispatch, optimal power flow, unit commitment, reserves)
  • Hedging risk through financial instruments
  • Long-term energy system planning
Teaching methods
2 hours of magistral courses per week, and 2 hours of training sections per week. Homeworks will be evaluated by the instructor and/or the teaching assistant.
Evaluation methods
  • Written exam
  • Course project and homework assignments
Other information
None
Online resources
https://moodleucl.uclouvain.be/course/view.php?id=5003
Bibliography
  • Notes de cours
  • Impressions de manuels ou articles fournies au cours. Quelques lectures qui pourraient être utiles en tant que support : Steven S. Stoft, "Power System Economics" / Daniel S. Kirschen, Goran Strbac, "Power System Economics"
Faculty or entity
MAP


Programmes / formations proposant cette unité d'enseignement (UE)

Title of the programme
Sigle
Credits
Prerequisites
Aims
Master [120] in Mathematical Engineering
MAP2M
5