Checking date: 18/08/2020

Course: 2020/2021

Electricity Markets
Study: Bachelor in Electrical Power Engineering (222)

Coordinating teacher: USAOLA GARCIA, JULIO

Department assigned to the subject: Department of Electrical Engineering

Type: Compulsory
ECTS Credits: 6.0 ECTS


Students are expected to have completed
Electric Power Systems. AC Electrical Machines
Competences and skills that will be acquired and learning results. Further information on this link
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.
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. - Economically optimal transport capacity. - 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
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 and the academic weekly planning may change due academic events or other reasons.