This course will help you to:
- Possess advanced knowledge about electricity markets for different systems in North America, including energy, capacity, and ancillary services markets
- Describe major components of a power system and types of wholesale electricity markets
- Describe platforms for real-time and forward wholesale electricity markets
- Explain locational marginal price (LMP) and its components
- Describe, at high level, types of risks inherent in the wholesale energy markets and financial tools to manage such risks
- Describe the role of generators, transmission, and load in a power system
- Define and provide examples of ancillary services
- State the role of FERC and state regulatory agencies
- Describe ISO/RTO functions
- Describe role of transmission in the regional wholesale electricity markets
- Explain bilateral and real-time energy markets
- Discuss RTO/ISO financial settlement and credit issues
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.
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
- 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
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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.
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