Quantitative Energy Economics

linma2415  2022-2023  Louvain-la-Neuve

Quantitative Energy Economics
5.00 credits
30.0 h + 22.5 h
Q2
Teacher(s)
de Maere d'Aertrycke Gauthier (compensates Papavasiliou Anthony); Papavasiliou Anthony;
Language
English
> French-friendly
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)
Learning outcomes

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
 
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
2 hours lecture per week and 2 hours working exercies. Assignements will be evaluated by the teacher or the teaching assistant.
Evaluation methods
  • 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
Learning outcomes
Master [120] in Electro-mechanical Engineering
ELME2M
5
Master [120] in Mathematical Engineering
MAP2M
5