Smart Grid Economics and Information Management
- Univ.-Prof. Dr. rer. soc. oec. Reinhard Madlener
The scope of the lecture is economics and information management of energy markets. The integration of the growing number of renewable energy sources imposes new challenges on energy markets and the power system. For a better coordination of supply and demand it is necessary to interlink centralized and decentralized generators, storage devices, as well as consumers with each other by means of information and communication technologies (ICT). Current electricity networks are extended by intelligent ICT components thus incorporating the "Smart Grid". The existing market structures for electricity have to be adjusted in order to successfully integrate an increasing number of renewable energy producers, electric vehicles and revamped concepts like demand side management/demand response. The regulatory and economic aspects of electricity markets with an explicit focus on the "Smart Grid" will be covered in detail during this course.
- Electricity Markets - Market Models, EEX (spot and futures market), Over-the-Counter (OTC) Trade, Market Coupling
- Regulation - Charges and Incentive Regulation, Network Congestion Management
- Demand Side Management/Demand Response - Smart Metering, Dynamic Electricity Tariffs, Price Elasticity, Storage Systems, Electric Mobility
- Advanced Pricing in the Smart Grid - Temporal Pricing, Spatial Pricing, Price Elasticity
This course is primarily targeted to students in the M.Sc. Program in Economics and Industrial Engineering. Students enrolled in different programs with a background in micro and macroeconomics are welcome, too.
Basic knowledge in Economics (Micro/Macro) and Energy Economics.
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