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Quantitative Methods in Energy Market Modelling

Dear Students,

Due to the Covid-19 situation, it may not be possible to have regular face to face classroom meetings for the first few weeks or the entire semester. In this case, teaching will therefore be carried out via the „Zoom“ platform. The following is necessary for this:

  • Install the „Zoom Client for Meetings“ from the webpage zoom.us (https://zoom.us/client/latest/ZoomInstaller.exe). Alternatively, you can join the zoom meeting via https://fau.zoom.us/. Simply log in with your IDM-ID and then use the meeting number to join the meeting.
  • Test your equipment (microphone, speaker, camera) under Zoom in advance, e.g. with your fellow students. Important: try especially the „mute“ function!
  • Register for the course on StudOn  and download the lecture slides (password: equilibrium)
  • To participate in the digital lessons, please find the Zoom Meeting IDs further down on this website
  • Recordings: It is planned to put additional digital recordings of the lessons on StudOn – important: we cannot guarantee that this will work!


Syllabus for Summer Term 2020:

This is a block course and takes place on Monday, 15:00 – 18:15 in room LG 5.155 or digitally via Zoom by Prof. Dr. Zöttl (Lecture) and Dr. Christian Sölch (Exercise) .

Lecture (2 SWS): 8 Blocks, Exercise (1 SWS): 4 Blocks

Schedule:

20.04. (L), 27.04. (L), 04.05. (E), 11.05. (L: 15:00 – 16:30 & E: 16:45 – 18:15), 18.05. (L) , 25.05. (E), 08.06. (L), 15.06. (L), 22.06. (L), 29.06. (E), 06.07. (L), 13.07. (L/question time)

Please find below the Zoom Meeting-IDs of the coming Lectures and Exercise Classes and have a look at the data protection notice: During the Zoom conference your name and possibly a live image of you will be displayed for all participants.  If you do not want this, you can switch off the video during your Zoom meeting yourself. If you do not want your name to appear, you must register under a pseudonym. Please also note that Zoom meetings will be recorded and made available online via StudOn.  By clicking on the link to the respective Zoom meeting you automatically agree to this data protection notice.

Date: Zoom-Meeting ID: Weblink:
L Mo, 20.04.2020, 15:00 – 18:15 335 251 961 https://zoom.us/j/335251961
L Mo, 27.04.2020, 15:00 – 18:15 134 690 516 https://zoom.us/j/134690516
E Mo, 04.05.2020, 15:00 – 18:15 693 497 898 https://zoom.us/j/693497898
L Mo, 11.05.2020, 15:00 – 16:30 937 9118 9690 https://fau.zoom.us/j/93791189690
E Mo, 11.05.2020, 16:45 – 18:15 962 3799 4368 https://fau.zoom.us/j/96237994368
L Mo, 18.05.2020, 15:00 – 18:15 993 1589 7454 https://fau.zoom.us/j/99315897454
E Mo, 25.05.2020, 15:00 – 18:15
982 1900 7646
https://fau.zoom.us/j/98219007646
L Mo, 08.06.2020, 15:00 – 18:15 911 9266 4529 https://fau.zoom.us/j/91192664529
L Mo, 15.06.2020, 15:00 – 18:15 956 7573 4771 https://fau.zoom.us/j/95675734771
L Mo, 22.06.2020, 15:00 – 18:15 994 3676 7486 https://fau.zoom.us/j/99436767486
E  Mo, 29.06.2020, 15:00 – 18:15 963 4113 1104 https://fau.zoom.us/j/96341131104
L Mo, 06.07.2020, 15:00 – 18:15 988 9304 2719 https://fau.zoom.us/j/98893042719
L Mo, 13.07.2020, 15:00 – 18:15 992 2527 7837 https://fau.zoom.us/j/99225277837

 

Currently the final exam is planned for 20 July 2020, 15:00 in room LG 0.424 as a standard classroom exam – if this should not be possible due to the COVID19 situation, then we will also do our best to find an appropriate solution.

 

Contents:

It is the purpose of the course to understand and quantitatively analyze the economic interaction of the players and institutions in liberalized energy markets. Liberalized electricity markets can be segmented in a regulated part (the networks) and the non-regulated parts (generation and retail) where private companies interact in a market environment. The interaction of the different agents is analyzed with computational equilibrium frameworks based the concepts applied in industrial organization. Next to the fundamental understanding of the relevant market interaction, the models allow for a quantitative analysis of proposals for the design of energy markets. The participants thus develop the tools for an autonomous assessment of currently discussed policies in liberalized electricity markets (e.g. changed support schemes for renewables, changed network tariff systems, impact of capacity markets).

The course aims at students in the field of economics /business as well as students in the fields of engineering and mathematics. An integral part of the course id formed by homework assignments conducted in groups. The ability to cooperate also beyond the classical limits of each discipline is an important qualification for the students’ careers, which should be stimulated in the context of this course.

The students:

  • develop a clear picture of the relevant market participants in liberalized electricity markets and understand their incentives and objectives
  • learn fundamental concepts and models which allow to analyze the interaction at those markets
  • get to know important publically available data sources which allow for a quantitative analysis of the market situations considered
  • know the current challenges when designing those markets and can quantitatively analyze the solutions proposed in the current policy debate.

The students should be familiar with the mathematical methods acquired during their Bachelor degree.

Institutional knowledge of electricity markets is not required.

The contact person for this course is Dr. Christian Sölch.

The password for the StudOn Course is „equilibrium“. Please register there and bring the material for chapters 1-3 to the first lecture, so you can make additional notes during the lecture.

 

Additional Information:

There is no registration required for participating in this course, but especially because of the COVID-19 situation highly recommended . A participation is possible at any time.

Please note: The examination office has application deadlines for the exam registrations!