Quantitative Energy Economics

Due to the COVID-19 crisis, the information below is subject to change, in particular that concerning the teaching mode (presential, distance or in a comodal or hybrid format).

5 credits

30.0 h + 22.5 h

Teacher(s)

De Maere d'Aertrycke Gauthier (compensates Papavasiliou Anthony); Papavasiliou Anthony;

Language

English

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 :

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

Content

Place of energy system in the economy, energy mix and public objectives of decarbonization : solutions and challenges
Organisation and modelisation of electricity market : production, transmission, investissement
Social cost of carbon. Organisation and modelisation of CO2 emission market. Introduction to general equilibrium model.
Economic : Corporate finance and computation of investment financing . Economic Equilibrium theory (perfect and imperfect competition) Impact of externalities, Risk quantification, coalition theory and stability
Mathematics: Optimisation/Duality (complementarity conditions), Nash equilibrium, Convex hull

Teaching methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.

2 hours lecture per week and 2 hours working exercies. Assignements will be evaluated by the teacher or the teaching assistant.

Evaluation methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.

Written and/or oral exam | Regular assignments

Other information

None

Online resources

https://moodleucl.uclouvain.be/course/view.php?id=5003

Bibliography

Impressions de manuels ou articles fournis 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