Energy Economy and Energy Markets

Recommended Prerequisites

NA

Teaching Methods

Classroom interaction:

- Presentation of the themes promoting debate (student-student and student-teacher).

- Solving (by students, individually or in small groups, or by the teacher) of cases that illustrate the practical relevance of the themes.

- Conference lectures with invited expert speakers (regulatory agents, market players, industry).

- Role-playing.

The presentation of the themes and the discussion of cases emphasize the motivation of the students for studying the themes being addressed, by using concrete examples). When opportune, the related research activities of the teacher are

Learning Outcomes

Acknowledge students with energy economic concepts, both in analytical and modelling terms. Promote research skills in frontier areas as Economy-Business-Engineering. Promote awareness of policy and decision-making processes affecting energy management and development in both government and industry, including the economic, policy, regulatory and institutional drivers that shape management decisions.

Work Placement(s)

No

Syllabus

Energy value chain economics. Structure of energy demand and supply. Rationale for and public policies in energy markets: services of economic general interest and sectoral regulation. Electricity market reforms and competition in the electricity industry. Designing markets for electricity. Market power, energy crisis, security of supply, market failures and externalities. Political economy of deregulation and competition in wholesale electricity markets. Energy finance and risk management: spot and futures price formation.

Volatility and hedging instruments. Building of the electricity European internal market as a case study.

Impacts of  renewable energy deployment on socio-economic dimensions

Head Lecturer(s)

Nuno Miguel dos Santos Carvalho Figueiredo

Assessment Methods

Assessment
Research work: 100.0%

Bibliography

Bunn, D. (ed) (2004), Modelling prices in competitive electricity markets, Wiley Finance, John Wiley & Sons

 

Joskow, P., Schmalensee, R., (1983), Markets for Power: An Analysis of Electric Utility Deregulation, MIT Press, Cambridge, Massachusetts

 

Newbery, D., (2000), Privatization, Restructuring, and Regulation of Network Utilities, MIT Press, Cambridge, Massachusetts.

 

Silva, Patrícia Pereira da, (2007), O sector da Energia Eléctrica na União Europeia – evolução e perspectivas (The electricity supply industry in the European Union, in portuguese), Coimbra University Press, Coimbra.

 

Up-to-date Energy Policy retrevied from http://ec.europa.eu/energy/index_en.htm