Module 6 – Participation of renewables in electricity markets

Today in most electricity markets, renewable energy producers are to participate in those markets as conventional producers, hence having to place offers at the day-ahead stage, and then having to face potential (financial) consequences stemming from imbalances. Therefore, the participation of renewables in electricity markets leads to the question of how to optimally design offering strategies in those markets. We will consequently go through

  • an explanation of what a market participation strategy is
  • an introduction to decision-making under uncertainty, based on the newsvendor problem
  • the application of those concepts for the offering of renewable energy in electricity markets

As additional material, please start with the video interview of a former student who attended the course, Georgia Champeri, and who now works for Danske Commodities which is one of the leading energy trading company in Europe.

The module is composed of a set of video lectures, with associated quizzes. The module introduction gives an overview of the theme and topics to be covered. The lecture slides are also made available.

 

Renewables in electricity markets: Interview with Georgia Champeri (Danske Commodities)

Module 6 - Module introduction

Slides: Module 6 – Module introduction

Module 6 - What is a market participation strategy?

Slides: Module 6 – What is a market participation strategy?

Module 6 - Decision-making under uncertainty

Slides: Module 6 – Decision-making under uncertainty

Module 6 - Offering renewable energy under uncertainty

Slides: Module 6 – Offering renewable energy under uncertainty