After participating in this course, you will be able to:
- Understand the major components of power systems and the structure of electricity markets in North America, including energy, capacity, and ancillary services.
- Explain locational marginal pricing (LMP), its components, and the platforms for real-time and forward wholesale markets.
- Identify and manage risks in wholesale energy markets using financial tools.
- Describe the roles and functions of FERC, state regulatory agencies, ISO/RTO, and the transmission system in regional markets.
- Understand the financial settlement, credit issues, and the roles of generators, transmission, and load in power systems.
Description
This course is an introduction to the Electricity Markets. It shall introduce candidates to mega-scale economics and explain the characteristics of various types of energy systems. Students will study the differences between electricity markets for energy, spinning reserves, capacity and ancillary services, emphasizing the detailed structures of energy and capacity markets. This course was designed as an introduction to the activities associated with designing and implementing electricity markets, this includes economic load dispatch (ELD), optimal power flow (OPF), unit commitment (UC), security-constraint unit-commitment (SCUS), locational marginal price (LMP), and demand curves (DC).
Additional information includes electricity markets history and deregulation, legal and regulatory issues, high-level design, detailed design, and documentation requirements.
Course Outline
- History of Electricity Sector Restructuring
- Introduction to Electricity Markets
- Energy Market Fundamentals
- Capacity Markets
- Ancillary Services Markets
- Financial Transmission Rights
- Market Power and Market Power Mitigation
Who Should Attend
Power System Operators, Power System Analysts and Engineers, including Generation and Transmission Planners and Operational Engineers • Protection Engineers • ISO/RTO Technical Staff • Operations Supervisors • Power Developers and Marketers • Power Exchange Personnel • Regulatory Staff • Economic and Management Consultants
Course Rating
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COURSE CREDIT
Almost all of EPIC's courses offer :
- Continuing Education Units (CEUs) and
- Professional Development Hours (PDHs)
These course credits will help attendees earn training requirements for their associations or provincial governing bodies.
ON-SITE TRAINING
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