TEK5350 – Energy Markets and Regulation
Course description
Course content
The energy system is undergoing a fundamental change from being centralized and carbon intensive to decentralized and low carbon so as to achieve the goals according to the Paris Agreement of limiting global mean surface temperature rise to well below 2 °C.
The course provides students with the basics of energy markets, both physical and financial, starting with the classical markets like day-ahead electricity market and then continuing to the markets specific for renewable energy resources. It will give the students an understanding of the economics of different renewable energy sources with a focus on hydro, wind and solar, different options to integrate renewable energy into the energy market, types of policy instruments, regulation and institutional frameworks on a national and international level.
Further, the course will put energy markets in the context of the economics of climate change and global governance. In order to understand reports and scientific papers, it is necessary to understand different methods and models for analyzing questions about the energy market which the course will introduce.
Learning outcome
After completing this course, you
- understand the functioning of energy markets and power exchange
- understand different energy markets?and policy designs
- understand the role of different actors in the energy market
- can analyze the effects of renewables on the energy market
- understand the appropriate use of different methods and models for analyzing questions in the energy market
- can read and analyze state-of-the-art academic literature in the field of energy markets
- are able to critically analyze the behavior of different actors, for instance governments, industries, in the energy market
Admission to the course
Students admitted at UiO must?apply for courses?in Studentweb. Students enrolled in other master's degree programmes can, on application, be admitted to the course if this is cleared by their own study programme.
Nordic citizens and applicants residing in the Nordic countries may?apply to take this course as a single course student.
If you are not already enrolled as a student at UiO, please see our information about?admission requirements and procedures for international applicants.
The course is limited to 20 students. Students admitted to the programme Renewable Energy Systems (master's two years)?have priority.?For the remaining places, students?will be given admission based on the normal rules.?
Recommended previous knowledge
The course builds on previous knowledge similar to that obtained in the bachelor's degree program in Mathematics, Natural Sciences, Engineering.
Overlapping courses
- 10 credits overlap with TEK9350 – Energy Markets and Regulation.
Teaching
The course extends over a full semester with 3 hours of teaching per week. This includes guest speakers, class discussions, exercises, and?mandatory assignments.
Four mandatory assignments must be approved before you can sit?the final exam.
Examination
- A final written?exam counts 100% towards the final grade.
Four mandatory assignments must be approved before you can sit?the final exam.
When writing your exercises make sure to familiarize yourself with the rules for use of sources and citations. Breach of these rules may lead to suspicion of attempted cheating.
It will also be counted as one of the three attempts to sit the exam for this course, if you sit the exam for (one of) the following course(s):
Examination support material
Approved calculator
Language of examination
The examination text is given in English, and you submit your response in English.
Grading scale
Grades are awarded on a scale from A to F, where A is the best grade and F is a fail. Read more about the grading system.
Resit an examination
Students who can document a valid reason for absence from the regular examination are offered a postponed examination at the beginning of the next semester.
Re-scheduled examinations are not offered to students who withdraw during, or did not pass, the original examination.
More about examinations at UiO
- Use of sources and citations
- Special exam arrangements due to individual needs
- Withdrawal from an exam
- Illness at exams / postponed exams
- Explanation of grades and appeals
- Resitting an exam
- Cheating/attempted cheating
You will find further guides and resources at the web page on examinations at UiO.