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ECN380 Energy Markets and Regulation

Credits (ECTS):10

Course responsible:Olvar Bergland

Campus / Online:Taught campus Ås

Teaching language:Engelsk

Course frequency:Annually

Nominal workload:250 hours

Teaching and exam period:This course starts in Autumn parallel. This course has teaching/evaluation in Autumn parallel.

About this course

The course covers central issues concerning energy markets and economic regulation in the energy sector. Specific topics include: 1) organization of energy markets; 2) regulatory, operational and commercial aspects of electricity markets; 3) regulation of network providers through dynamic yardstick competition; 4) measuring efficiency with DEA (data envelopment analysis) and SFA (stochastic frontier analysis); 5) efficient and equitable pricing in the energy sector, and 6) energy security. Challenges to organization and regulation of energy markets from new renewable resources, emerging technologies and new business models.

Learning outcome

After completing this course, students will:

  • Understand how the efficiency of the electricity market depends upon the design and interaction of mechanisms for energy trade, ancillary services, congestion management, risk management, environmental measures, and regulatory policies;
  • Have the ability to compare and discuss differences in chosen structure and electricity market design in different countries;
  • Be able to identify and explain the specific market mechanisms necessary in an electricity market, i.e. mechanisms for energy trade, ancillary services, congestion management, risk management, environmental measures, and regulatory policies;
  • Have acquired knowledge of electricity market structures that is necessary to understand and assess different proposed policies and measures aiming at e.g. further efficiency, the integration of new technologies, and environmental protection; and
  • Are able to professionally communicate results and opinions about electricity market design.
  • Learning activities
    Lectures on selected topics. Self study. Practical exercises in acquisition and presentation of data for energy markets, and in efficiency analysis of local distribution companies. Presentation and discussion of a self-selected current energy policy research paper.
  • Teaching support
    Open office 2 hours/week.
  • Prerequisites
    ECN280 Energy Economics, ECN210 Intermediate Microeconomics- Consumers, Producers, Market and Welfare
  • Recommended prerequisites
    ECN311 Microeconomics III, and coursework in econometrics or regression analysis.
  • Assessment method
    Oral examination (100%) over the project work and relevant course material arranged during the exam period.

    Oral exam Grading: Letter grades Permitted aids: A1 No calculator, no other aids
  • Examiner scheme
    The external examiner is used to evaluate course content and to assess the final examination.
  • Mandatory activity
    Approved exercises and paper presentation. Approved mandatory activity is valid for two years. No re-examination is offered.
  • Notes
    The course is in English. Incoming students can contact student advisors at the School of Economics and Business (studieveileder-hh@nmbu.no) for admission to the course.
  • Teaching hours
    About 40 hours of lectures, and 16 hours of organized project work.
  • Admission requirements
    Minimum requirements for entrance to higher education in Norway (generell studiekompetanse).