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Modelling and Managing Electricity Markets

Monday 29 April 2013 - Tuesday 30 April 2013

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  Date: Monday 29 April 2013 - Tuesday 30 April 2013
  Time: 09:00 - 16:00
  Location: London Business School
  Regent's Park
  London
  NW1 4SA
  Price: Standard Price £950.00
  Group Discount £760.00
  Alumni Discount £760.00
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  Modelling and Managing Electricity Markets is a specialised, advanced course which seeks to give participants an understanding of the strategic evolution of electricity markets. After reviewing the drivers of change in the sector, and the interaction of regulatory and strategic behaviour, the main objective of the programme is to develop a model-based capability to simulate price formation. The course presents the latest techniques for price risk modelling, under the current challenges of technology mix, intermittency and market structure changes, as well as the effects of various regulatory interventions and policies.   The course is led by Professor Derek Bunn. It has developed out of an extensive research programme over many years, working with the sector on these problems, and incorporates practical workshops in using advanced risk simulation and agent-based computational learning methods.  Analysts, regulators and managers with a need to understand the price, performance and investment risks in this sector, as it undergoes major structural changes, will find the course useful. It does not require any prior technical expertise.

  The course is organised as an advanced workshop with about half the sessions taking place through computer-based activities. Leading-edge modelling techniques are presented in an intuitive way. The main topics covered are:

  • The drivers of changes in the power sector and a review of investment models
  • Price formation and risk analysis with demand, supply, fuel and policy risks
  • The use of agent-based simulation to understand strategic behaviour
  • Modelling market structure changes and technology-specific strategies
  • Modelling new policy interventions, market mechanisms and interconnections.
  • The interaction of oil, gas and carbon with power price formation

  All required course materials, lecture notes, supplementary readings, Excel based software and user guides will be distributed as the course progresses.

Contact

Suzanne Shapiro Tel: 44(0)20 7000 8844 Email: sshapiro@london.edu