This in-depth introductory course is designed for those with a limited knowledge of the electric power system and restructured electricity markets.
It provides an overview of the industry, focusing on the linkages among power system engineering, markets, regulatory policy, and business strategies. Specific examples and actual market data are used to illustrate basic principles and ideas. The instructor employs several approaches to elicit participation from attendees, including group exercises and an electricity market simulation in which participants bid a portfolio of generation resources over the course of the seminar under various market rules and conditions. Participants will have plenty of opportunities to ask questions and discuss issues of special interest to them. Extensive and comprehensive course notes are provided to each attendee. Continental breakfast and lunch included.
Course Outline (12 hours of Continuing Education)
Day One Morning (3 hours of class time not including breaks):
- Power system components, types of organizations and businesses, power system supply chain, generation dispatch and unit commitment, power flows, ancillary services, and reliability analysis
- Integration of business analysis into power systems engineering including the generation investment decision and calculating the cost of electricity from different generation resources
Day One Afternoon (3 hours of class time not including breaks):
- Continuation of Day One morning topics.
- Review of microeconomics, real-time, day-ahead, capacity and ancillary services markets, locational marginal prices, congestion risk management, renewable energy markets, emission allowance markets, settlement, arbitrage/speculation between markets, bilateral contracts, retail vs. wholesale markets, opportunity cost pricing of ancillary services, exercising of market power, and market power monitoring and mitigation
- Integration of business analysis into submitting bids and offers into electricity markets and forecasting electricity prices
Day Two Morning (3 hours of class time not including breaks):
- Continuation of Day One afternoon topics.
- History of industry restructuring, federal legislation and regulations, cost-of-service regulation, role of economies of scale, federal and state policies, and transmission expansion and cost allocation
Day Two Afternoon (3 hours of class time not including breaks):
- Forecasting techniques, risk management instruments, business strategies (generation, transmission, retail providers, traders), cost-of-service regulation, smart grid, and course wrap up
Days One and Two also include two group projects on generation bidding and system planning. Questions, comments and discussion is encouraged throughout the course and participants are free to contact the instructor at anytime after the completion of the course regarding the course materials, trends in the industry, employment issues, etc.
12 American Institute of Certified Planners (AICP) certification maintenance credits pending.