Power Markets

Program Goals

This program is intended to immerse the participants in learning about Electricity Power Markets: How they can be developed, planned and implemented.

The full understanding of Power Markets requires that any stakeholder (Government, Private Investors, Planners, Regulators, Consumers and Operators), be proficient in three basic areas:

  • Understanding the planning and operating processes
  • Understanding the financial and economic issues
  • Ability to deal with the risks associated with market uncertainties. 

Power Market Courses

Power markets courses deal with the overall planning process of electricity markets and the requirements for a smooth transition from the regulated government-owned power utility to the unbundled utility system of multiple ownerships.

The issues of integrated resource planning, market design, and transitional issues are covered. The course then moves to the operational aspects with a focus on the system operator and his functions.

Once done, participants are involved in learning how to run both Electricity Market Simulators and the Short-Term Load Forecaster (a) ANNSTLF or (b) ARSPECTICA

After two key lectures on risk assessment and management, the participants are engaged in the various features of market simulation culminating in a full class competition.

These areas represent the three legs of a stool as shown. By removing any of the legs, the stool becomes useless. 


A major implication of this reality is that the transition from the traditional fully integrated power system to the market-based system requires assurance mechanisms to avoid unnecessary abuses of the process and also to assure investors and the other stakeholders of the viability of the new market.

Intended Audiences

The course is intended for all involved in the planning and operation of power markets including planning managers, system operators, government regulators, and possibly university faculty. The approach is hands‐on with simulator exercises using DSI‐provided software for market simulation.

Typical Topics Covered

  • Introduction to Power System Development and Planning
  • Alternative Market Designs
  • Ancillary Services
  • Modeling of the Short and Long‐Term Planning Process with Emerging Markets
  • Forward and Real‐Time Market Functions
  • Congestion Management (CM)
  • Electricity Market Simulator (EMS)
  • Unit Commitment Scheduling (UC)
  • Day-Ahead Scheduling Using EMS
  • Optimal Power Flow (OPF) as a Tool for Locational Marginal Pricing
  • Short‐Term Load Forecasting (STLF)
  • Introduction to Risk Assessment and Management
  • Portfolios, Futures, and Options in Electricity Markets:
  • Advanced Electricity Market Simulator Hands-On Exercises
  • Class Competition Exercises





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