First cycle
degree courses
Second cycle
degree courses
Single cycle
degree courses
School of Engineering
Course unit
INO2044788, A.A. 2017/18

Information concerning the students who enrolled in A.Y. 2017/18

Information on the course unit
Degree course Second cycle degree in
IN1979, Degree course structure A.Y. 2014/15, A.Y. 2017/18
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Number of ECTS credits allocated 6.0
Type of assessment Mark
Course unit English denomination ELECTRICITY MARKET ECONOMICS
Department of reference Department of Industrial Engineering
Mandatory attendance No
Language of instruction English

Teacher in charge ARTURO LORENZONI SECS-P/06

ECTS: details
Type Scientific-Disciplinary Sector Credits allocated
Educational activities in elective or integrative disciplines SECS-P/06 Applied Economics 6.0

Mode of delivery (when and how)
Period Second semester
Year 1st Year
Teaching method frontal

Organisation of didactics
Type of hours Credits Hours of
Hours of
Individual study
Lecture 6.0 48 102.0 No turn

Start of activities 26/02/2018
End of activities 01/06/2018

Prerequisites: It is suggested a basic knowledge of economics na of the operation of energy markets.
Target skills and knowledge: The target of the course is to understand the new organization of electricity markets and to give to the students the knowledge to operate. The course starts from the basics of the electricity economics and from the principles of regulation and aims at giving to the students the skills to successfully operate either as seller, buyer or trader.
Examination methods: 2 Written classworks during the course.
First classwork, Mid Course. Second classwork End of the Course .
Session of exams (orals): June, July, September, December, February, March.

After the classworks, you can register your vote only if their average is > or = 23/30. If not, or if you want to improve the vote, you have to give an oral exam on all or just one half of the programme, if the other is above 23/30, keeping good only that half.
Assessment criteria: Knowledge of the material supplied during the lessons and ability to solve exercises on the electricity market.
Course unit contents: The lessons are related to the following topics:
Price regulation; organisation of the electricity industry. Plant despatch and merit order: generation in a competitive market. Contracts. The operation of the power exchange and the capacity market. The transmission line: benefits of the interconnection and optimal transmission capacity. Congestion management. The markets for the environment: green certificates, carbon credits, energy efficiency. Financial products for the power market. The electricity prices: comparing different contracts. Principles of finance for hedging electricity contracts.
Planned learning activities and teaching methods: From lessons, Classwork, energy market simulation
Additional notes about suggested reading: Slides of the lessons.
• S. Stoft: power System Economics, IEEE Press, Wiley Interscience, 2002, ISBN 0 471-15040-1
• Richard Green: Competition in Generation: the economic foundations. PROCEEDINGS OF THE IEEE, VOL. 88, NO. 2, FEBRUARY 2000.
Textbooks (and optional supplementary readings)
  • Lorenzoni A., Appunti di Economia del mercato elettrico. Padova: Cooperativa Nuova Vita, 2013. Cerca nel catalogo