Energy & Sustainability Management PT
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Energy Trading & Market Processes

level of course unit

Introduction and consolidation

Learning outcomes of course unit

The students are able to:
• recognize the interrelationships of factors influencing energy markets
• consider factors influencing the wholesale prices of electricity and gas
• transfer market processes for the provision of system services to energy portfolios
• use trading cascades in energy trading
• consider volatilities and optionalities in the energy market
• illustrate factors influencing price formation in the electricity market using the merit order
• consider the influence of CO2 on trading markets

prerequisites and co-requisites


course contents

• Trading cascade in the electricity and gas market
• Different markets for system services
• Fundamental factors influencing energy markets
• Markets for renewable energy sources
• Commodity futures trading
• Exchange vs. OTC
• OTC contracts
• CO2 trading markets
• Factors influencing the electricity price
• Merit order principle

recommended or required reading

Schwintowsky, H., 2018. Handbuch Energiehandel. 4. Auflage. Berlin: Erich Schmidt Verlag
• Zenke, I. und R. Schäfer, 2018. Energiehandel in Europa: Öl, Gas, Strom, Derivate, Zertifikate. 4. Auflage. München: C.H.Beck Verlag
• Ströbele, W., W. Pfaffenberger, und M. Heuterkes, 2012. Energiewirtschaft: Einführung in Theorie und Politik. Oldenbourg: Wissenschaftsverlag

assessment methods and criteria

written exam

language of instruction


number of ECTS credits allocated


eLearning quota in percent


course-hours-per-week (chw)


planned learning activities and teaching methods

Blended Learning

semester/trimester when the course unit is delivered


name of lecturer(s)

director of studies

year of study


recommended optional program components


course unit code


type of course unit

integrated lecture

mode of delivery


work placement(s)