Checking date: 03/05/2022

Course: 2022/2023

Electricity Markets
Bachelor in Electrical Power Engineering (2008 Study Plan) (Plan: 166 - Estudio: 222)

Coordinating teacher: USAOLA GARCIA, JULIO

Department assigned to the subject: Electrical Engineering Department

Type: Compulsory
ECTS Credits: 6.0 ECTS


Requirements (Subjects that are assumed to be known)
Electric Power Systems. AC Electrical Machines
The students should know - the fundamentals of the f-P regulation as well as the voltage control in power systems. - the costs of thermal power plants - the basic principles of electricity markets and the technical and economic aspects of power system operation, including transmission constraints. - the retail market and the tariffs. - the grid as a natural monopoly. - the different ways of participating in the electricity markets.
Skills and learning outcomes
Description of contents: programme
* Load-frequency control - Load-frequency mechanism - Primary regulation. - Secondary and tertiary regulation. Load areas. * Voltage Regulation. - Voltage and power transmission capacity. - Voltage regulating devices. * Economic optimization of power systems - Operating costs of power plants. - Unit commitment. - Hydrothermal Coordination. Pumped-storage hydro plants. * Wholesale electricity markets. - Organized electricity markets. Auctions. - Congestion management methods. - Ancillary services. Reserve markets. * Participation of generation in the electricity markets - Thermal power stations - Hydro power stations - Other types of generation. * Transmission and distribution networks. - Definitions of transmission and distribution. - Regulated revenues of transmission and distribution grid.. - Other issues: losses and connection fees. - Quality of supply. * The retail market - Balance of revenues and costs of the electricity system. - Grid tariffs and price of energy.
Learning activities and methodology
- Lectures, tutorial sessions with students (3 ECTS credits) - Computer room exercises and practical problems solved in reduced groups (3 credits ECTS)
Assessment System
  • % end-of-term-examination 40
  • % of continuous assessment (assigments, laboratory, practicals...) 60
Calendar of Continuous assessment
Basic Bibliography
  • A.G. Expósito (ed.). Análisis y operación de sistemas de energía eléctrica. McGraw-Hill. 2002
  • Grainger & Stevenson. Análisis de sistemas de energía eléctrica. McGraw Hill. 1995
  • Kirschen & Strbac. Fundamentals of Power System Economics 2nd Ed.. Wiley. 2019
  • Kundur. Power system stability and control. Electric Power Research Institute. 1994
  • Stoft. Power System Economics. IEEE Press - Wiley Interscience. 2002
  • Wood, Wollenberg & Sheblé. Power generation, operation and control. Wiley. 2014

The course syllabus may change due academic events or other reasons.