Energy Markets
Niveau
Consolidation
Learning outcomes of the courses/module
The students are able to:
• Explain the principles of commodity futures trading and freely traded energy mar-kets
• Present and explain price formation in the energy market
• Present fundamental factors influencing the trading prices of energy sources
• Understand the status of the European and national energy markets with regard to political development goals
• Describe the trading cascade in the electricity and gas market
• Describe mechanisms of certificate trading
• Differentiate between the Clean Dark and Clean Spark Spread
• Explain the principles of commodity futures trading and freely traded energy mar-kets
• Present and explain price formation in the energy market
• Present fundamental factors influencing the trading prices of energy sources
• Understand the status of the European and national energy markets with regard to political development goals
• Describe the trading cascade in the electricity and gas market
• Describe mechanisms of certificate trading
• Differentiate between the Clean Dark and Clean Spark Spread
Prerequisites for the course
Fundamentals of Energy & Sustainability Management (ENM), Fundamentals of Business Administration and Economics (ECO.1)
Course content
• Unbundling of natural monopolies and free energy markets
• European and national development of the electricity and gas industry
• Energy pricing and influencing factors
• Standardized exchange products and trading markets
• Comparison of different approaches for energy services, balancing energy services and capacity services
• Merit - Order
• Trading cascade
• Markets for renewable energy sources
• Certificate trading
• Clean Dark Spread, Clean Spark Spread
• European and national development of the electricity and gas industry
• Energy pricing and influencing factors
• Standardized exchange products and trading markets
• Comparison of different approaches for energy services, balancing energy services and capacity services
• Merit - Order
• Trading cascade
• Markets for renewable energy sources
• Certificate trading
• Clean Dark Spread, Clean Spark Spread
Recommended specialist literature
• Bhattacharyya, S. C. (2019). Energy economics: Concepts, issues, markets and governance (2nd ed). Springer.
• Hafner, M., & Luciani, G. (Eds.). (2022). The Palgrave Handbook of International Energy Economics. Springer International Publishing. https://doi.org/10.1007/978-3-030-86884-0
• Kandpal, V., Jaswal, A., Santibanez Gonzalez, E. D. R., & Agarwal, N. (2024). Sustainable Energy Transition: Circular Economy and Sustainable Financing for Environmental, Social and Governance (ESG) Practices. Springer Nature Switzerland. https://doi.org/10.1007/978-3-031-52943-6
• Thewissen, J., Arslan-Ayaydin, Ö., Westerman, W., & Dorsman, A. (Eds.). (2024). The ESG Framework and the Energy Industry: Demand and Supply, Market Policies and Value Creation. Springer International Publishing. https://doi.org/10.1007/978-3-031-48457-5
• Hafner, M., & Luciani, G. (Eds.). (2022). The Palgrave Handbook of International Energy Economics. Springer International Publishing. https://doi.org/10.1007/978-3-030-86884-0
• Kandpal, V., Jaswal, A., Santibanez Gonzalez, E. D. R., & Agarwal, N. (2024). Sustainable Energy Transition: Circular Economy and Sustainable Financing for Environmental, Social and Governance (ESG) Practices. Springer Nature Switzerland. https://doi.org/10.1007/978-3-031-52943-6
• Thewissen, J., Arslan-Ayaydin, Ö., Westerman, W., & Dorsman, A. (Eds.). (2024). The ESG Framework and the Energy Industry: Demand and Supply, Market Policies and Value Creation. Springer International Publishing. https://doi.org/10.1007/978-3-031-48457-5
Assessment methods and criteria
Written exam
Language
English
Number of ECTS credits awarded
4
Semester hours per week
Planned teaching and learning method
Blended Learning
Semester/trimester in which the course/module is offered
4