PředmětyPředměty(verze: 908)
Předmět, akademický rok 2022/2023
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Energy Markets & Economics - JEM162
Anglický název: Energy Markets & Economics
Český název: Energy Markets & Economics
Zajišťuje: Institut ekonomických studií (23-IES)
Fakulta: Fakulta sociálních věd
Platnost: od 2022
Semestr: zimní
E-Kredity: 4
Způsob provedení zkoušky: zimní s.:písemná
Rozsah, examinace: zimní s.:2/2, Zk [HT]
Počet míst: 92 / 92 (185)
Minimální obsazenost: neomezen
Virtuální mobilita / počet míst: ne
Stav předmětu: nevyučován
Jazyk výuky: angličtina
Způsob výuky: prezenční
Poznámka: předmět je možno zapsat mimo plán
povolen pro zápis po webu
při zápisu přednost, je-li ve stud. plánu
Garant: Mgr. Petra Valíčková, Ph.D.
Vyučující: Levan Bezhanishvili, M.Sc.
Nick Elms
Mgr. Vojtěch Mišák
Mgr. Petra Valíčková, Ph.D.
Třída: Courses for incoming students
Termíny zkoušek   Rozvrh   Nástěnka   
Soubory Komentář Kdo přidal
stáhnout Energy Markets & Economics - syllabus - stc.pdf Course Syllabus Mgr. Petra Valíčková, Ph.D.
Anotace -
Poslední úprava: PhDr. Petr Bednařík, Ph.D. (15.02.2020)
This course covers a variety of theoretical and empirical topics related to the economics of the power sector. This includes concepts such as supply and demand for power, the structure of the industry (generation, transmission and distribution, retail supply), economic regulation of the power sector, wholesale power markets and their design (including competition issues), energy efficiency and retail supply, among other topics.

The core objective of this course is to gain a good understanding of the power sector with a focus not only on theoretical concepts but also on a more practical application of economic concepts related to power markets.

Deskriptory -
Poslední úprava: SCHNELLEROVA (29.10.2019)

Please switch to the english version.

Podmínky zakončení předmětu - angličtina
Poslední úprava: SCHNELLEROVA (18.11.2019)

The course is designed for both undergraduate and graduate students. Nevertheless, it is necessary to have good background knowledge in microeconomics as well as quantitative skills to successfully pass this course.

The final grade is based on a written empirical paper (term paper) and performance during the final exam, with the following weights:

  • Written empirical paper (40%); and
  • Final written exam (60%).

Moreover, you are required to get at least 50% in your final exam in order to successfully pass the course. We follow the Dean’s measure No. 17/2018 and the stipulated rules for the A-F grading using rounding up to the nearest whole percentage:

  • 91% and above => A
  • 81-90 % => B
  • 71-80 % => C
  • 61-70 % => D
  • 51-60 % => E
  • 0-50 % => F

For example, a total result of 90.5% (combining the results for the empirical paper and final exam) corresponds to grade A and a total result of 50.5% corresponds to grade E. This also means that you’ll have to get at least 50.5% to successfully pass the course.
The A-F grading shall be interpreted as follows (lecturer’s translation from the Czech version of the Dean's measure No. 17/2018):

  • A – Excellent (excellent performance with only minor errors);
  • B – Very good (above average performance, but with some errors);
  • C – Good (overall good performance with a number of significant errors);
  • D – Satisfactory (acceptable performance but with considerable shortcomings);
  • E – Sufficient (performance meets minimum requirements);
  • F – Insufficient, fail (a considerable amount of additional work is needed).

In this course you are required to write a term paper, which counts for 40% of your total mark for the course. The term paper consists of two tasks:

  • Describing the power sector in a country of your choice (Task 1: 70% of the grade for the term paper); and
  • Solving a set of computational exercises that relate to the topics discussed during the lectures (Task 2: 30% of the grade).

For this term paper we ask that you form teams of between two and four people. We encourage you to find team members yourself but if anyone has difficulty, we are here to assist you to find suitable teammates. 

Literatura -
Poslední úprava: PhDr. Petr Bednařík, Ph.D. (15.05.2020)

There is no single textbook for this course and for this reason we try to include a lot of information in the course material discussed during the lectures. Nevertheless, there are several good books from which you can read selected chapters that link well to the topics covered in this course: 

  • Danielle Beggs and Rajan Phakey: Power: A Practical Handbook, Denton: Globe Law and Business, 2017, ISBN: 978-1905783854, 251 pages, available in the IES library. 
  • Barryl R. Biggar: The Economics of Electricity Markets, New Jersey: Wiley – IEEE, September 2014, ISBN: 978-1118775752, 432 pages, available in the IES library. 
  • Sally Hunt, Making Competition Work in Electricity, New Jersey: Wiley, 2002, ISBN: 978-0-471-22098-5, available online. 
  • Steven Stoft, Power system economics: designing markets for electricity, New Jersey: Wiley, 2002, ISBN: 978-0-471-15040-4, 496 pages (part of the book available online)
Požadavky ke zkoušce -
Poslední úprava: Ing. Monika Hollmannová (29.10.2019)

Please switch to the english version.

Sylabus -
Poslední úprava: PhDr. Petr Bednařík, Ph.D. (15.02.2020)

The course is designed for both undergraduate and graduate students. Nevertheless, it is necessary to have good background knowledge in microeconomics as well as quantitative skills to successfully pass this course.

Course outline:
1. Introduction to the economics of the power sector (supply and demand for power, structure of the industry – generation, transmission and distribution, retail supply);
2. Possible models for organising the power sector, technical characteristics that affect that choice and sector liberalisation;
3. Need for economic regulation and current approaches to regulation and related concepts (cost plus or rate of return, price cap vs revenue cap, RIIO, RAB, etc.);
4. Wholesale electricity trade, including energy only markets and capacity markets, and competition issues;
5. Investment decision making in generation and transmission;
6. CO2 emissions, overview of decarbonisation policy instruments, EU ETS;
7. Renewables and energy efficiency measures; and
8. Retail supply, retail competition and retail pricing (including concepts of long run and short run marginal costs, average costs and market failures related to information).

 

 
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