Teaching Plan Information

1. General information

THIS COURSE IS TAUGHT IN SPANISH.

The ENERGY MARKETS course provides an essential complement to the technical content of other Master courses, training students in the economic management of energy supply and the legal knowledge of the more practical aspects for the development of renewable energies in the context of modern energy markets.

2. Learning results

• Identify the different models of energy markets internationally applied and explain the functioning and problems of each one. 

• Optimize and negotiate the technical and economic conditions of electricity and gas supply contracts.

• Develop computational and statistics skills for the mining and processing of data from international markets and the evaluation of indexed modalities of energy purchase.

• Identify international strategies to promote investments in renewable energies and apply the Spanish legal framework for the optimal management of facilities. 

3. Syllabus

1. Regulation of the energy sector

• Wholesale and forward markets models.

• Emissions trading markets.

• Technical grid operation and ancillary services markets.

• Network access tariffs and charges.

2. Introduction to market regulation

• Introduction to the structure of markets: private and social results.

• Imperfect competition markets. Origins and firm behavior

• Market regulation models and competition policy.

3. Electricity supply contracting

• Retail markets. Components of the final price.

• Negotiation of supply contracts. Types of offers and contracts.

• Tools for monitoring of energy consumption and costs.

4. Regulation of distributed generation

• Models of remuneration of renewable energy. International experiences.

• Impact of the sale of electricity from renewable sources in the wholesale market.

5. Oil and gas markets

• Regulation of the gas sector.

• Regulation of the oil sector. Biofuels.

4. Academic activities

• Presentation of theoretical contents.

• Solving of 10 practical cases.

• Autonomous work.

• Assessment. 

5. Assessment system

The assessment of the subject will consist of two activities:

1. A set of 10 practical exercises proposed by the teacher

2. A test of understanding of basic concepts

However, all students will have the right to take a global evaluation test, which will be scheduled on the dates indicated by the center in its exam calendar, both in the first and second calls (in the second call it will be the only option).

Weighting of the assessment activities:

• Activity 1: 50%

• Activity 2: 50%

Assessment criteria:

The assessment criteria of activity nº 1 are:

• Fulfillment of the objectives proposed in each practical case

The assessment criteria of activity nº 2 are:

• Rating according to the number of correct answers obtained

5.1. Academic fraud prevention

The use of unauthorised electronic materials or devices during the assessment may result in immediate exclusion from the examination and a fail mark (a numerical mark of ‘0’ for the assessment).

Furthermore, the lecturer in charge may complete the grade report and submit it to the General Inspectorate of Services, so that it may, where appropriate, consider initiating disciplinary proceedings against the student for academic fraud.

In the case of a continuous assessment exam [continuous assessment cannot continue, unless otherwise specified in the academic guide.]

In the case of a regular or extraordinary exam session, the initiation of disciplinary proceedings will result in the grade ‘pending resolution’ until the proceedings are concluded. 

6. Sustainable Development Goals

7 - Affordable and Clean Energy

7. Bibliography

- Hunt, Sally. Making competition work in electricity. New York: John Wiley & Sons, cop. 2002.

- Yusta Loyo, José María. Contratación del suministro eléctrico: oportunidades y estrategias para reducir el coste de las facturas eléctricas. 1ª Ed. Madrid: Paraninfo, 2013.

- Kirschen, Daniel S.. Fundamentals of power system economics. Wiley, 2004.