| Prerequisites and co-requisites |
None |
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| Course content |
This course will focus on the in-depth study of selected chapters of energy economics, in particular energy trading, as well as the characteristics and functioning of the relevant energy markets. In addition, current market developments with a high practical relevance are discussed.
- Macroeconomics: Resource economics, price formation and market power, external effects and their consequences
- Primary energy markets and trade: significance, history, organisation of markets, price formation, important market participants
- Energy policy and regulation: security of supply, economic efficiency, environmental compatibility and interactions
- Electricity Market and Trading: History, Balance Group Model, Structure and Segments of the Electricity Market
- Microeconomics: power plant deployment planning, portfolio analysis, risk management, procurement and trading strategies
- Current market developments: Expansion of renewable energies, challenges for energy suppliers, grid expansion or market design
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| Learning outcomes |
At the end of the course, students will have a good understanding of energy, in particular electrical energy, as a commodity and the relevant markets for energy trading. The students know
- Characteristics of electric energy and CO2 as a commodity. They can describe these using characteristic features and differentiate them from other trading goods.
- Stock exchange and non-stock exchange trading places for energy. They are able to explain their development and current importance of the different trading places.
- Are able to explain the mechanisms of price formation in energy trading and can explain them by means of examples.
- Principles of funding for the renewable energy sector.
- Methods of portfolio management and risk management with regard to purchase and supply contracts. You can safely explain demand-oriented power plant resource planning using the Merrit order concept.
- Current market developments in the energy industry, they can describe and evaluate potentials and challenges.
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| Planned learning activities and teaching methods |
- Lecture with integrated exercises
- Case studies, presentations and interactive energy debates
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| Assessment methods and criteria |
- Presentation
- Final examination
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| Comment |
None |
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| Recommended or required reading |
- Crastan, Valentin; Crastan, Valentin (2018): Energiewirtschaft und Klimaschutz, Elektrizitätswirtschaft und Liberalisierung, Kraftwerktechnik und alternative Stromversorgung, chemische Energiespeicherung. 4., bearbeitete Auflage, korrigierte Publikation 2018. Berlin: Springer Vieweg.
- Konstantin, Panos (2017): Praxisbuch Energiewirtschaft: Energieumwandlung, -transport und -beschaffung, Übertragungsnetzausbau und Kernenergieausstieg. 4., aktualisierte Auflage. Berlin: Springer Vieweg.
- Ströbele, Wolfgang; Pfaffenberger, Wolfgang; Heuterkes, Michael (2012): Energiewirtschaft: Einführung in Theorie und Politik. 3., überarbeitete und aktualisierte Auflage. München: Oldenbourg.
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| Mode of delivery (face-to-face, distance learning) |
Presence Course |
