EBF 483 - Introduction to Electricity Markets
This is a sample syllabus.
This sample syllabus is a representative example of the information and materials included in this course. Information about course assignments, materials, and dates listed here is subject to change at any time. Definitive course details and materials will be available in the official course syllabus, in Canvas, when the course begins.
Overview
This course is designed to teach students about the structure of the electricity industry, the regulatory institutions that oversee the industry, and the new market institutions that have been put into place since electricity restructuring. Much of the focus will be on the U.S. electricity industry. Since Pennsylvania has been a national leader in electricity restructuring, we will place particular emphasis on events in the Mid‐Atlantic region, but will also discuss other market structures in the U.S. and in other countries.
Relationship to the EBF Major and EBF Minor
EBF 483 counts as either an upper‐level EBF elective or as a substitute for EBF 484, but not both. If you wish to use this course to fill a requirement for the EBF major, you will need to fill out a course exemption form. If you are in the EBF minor, you can use this course as an upper-level elective. You'll also need a course exemption form filled out.
Objectives
Students who excel in this course are able to:
- describe the structure of the electricity industry;
- explain the regulatory institutions that oversee the industry;
- evaluate the new market institutions that have been put into place since electricity restructuring.
Required Materials
Typically, there are no required materials for this course. If this changes, students will find a definitive list in the course syllabus, in Canvas, when the course begins.
Prerequisites
The official prerequisites for this course are MATH 140 and (ECON 102 + MATH 230) OR (EBF 200 + EBF 301) and EBF 472 or STAT 200 or 301 or 401.
Expectations
We have worked hard to make this the most effective and convenient educational experience possible. How much and how well you learn is dependent on your attitude, diligence, and willingness to ask for clarifications or help when you need them. We are here to help you succeed. Please keep up with the class schedule and take advantage of opportunities to communicate with us and with your fellow students. You can expect to spend an average of 10 - 12 hours per week on class work.
Major Assignments
- Homework (50% of total course grade)
- Mid-term Exam (25% of total course grade)
- Final Exam (25% of total course grade)
Course Schedule
| Week | Topic | Assignment |
|---|---|---|
| 1 | Introduction to the Electric Power Grid | Lesson 1 Homework |
| 2 | Basics of Electric Power Flow | Lesson 2 Homework |
| 3 | Economics of Power Generation | Lesson 3 Homework |
| 4 | Economic Dispatch of Power Plants | Lesson 4 Homework |
| 5 | Regulation of Electric Utilities | Lesson 5 Homework |
| 6 | Problems with Utility Regulation and Electricity Restructuring | Lesson 6 Homework |
| 7 | California's Electricity Crisis | Lesson 7 Homework |
| 8 | Day-ahead and Real-time Energy Markets | Lesson 8 Homework |
| 9 | Capacity and Ancillary Services Markets | Lesson 9 Homework |
| 10 | Financial Transmission Rights and Hedging | Lesson 10 Homework |
| 11 | Market Power | Lesson 11 homework |
| 12 | Integrating Wind and Solar Power | Lesson 12 & 13 homework |
| 13 | Texas Power Crisis and Power Grid Reliability | Lesson 12 & 13 homework |
| Final Exam | ||