Power sector reform has been a very important development worldwide in the past two decades, and is still an ongoing process in many transition countries. Efforts aimed at building competitive electricity markets became increasingly interrelated to the growing influence of policies aiming at ensuring sustainable development and security of supply. In some cases, however, market opening is still at an infant stage in which the resulting outcomes may not necessarily meet the intended policy objectives.
Regulators’ roles and responsibilities in the process of developing effective markets is of critical importance. Abuse of market power along with the proper implementation of the legislation is one of the main issues that energy regulators have to closely monitor and supervise. Proper market monitoring is therefore a necessity in the context of electricity markets.
This course aims to provide a thorough introduction to the most important economic issues surrounding the creation and successful operation of electricity markets and fundamental regulatory policy measures to lay the groundwork for effective competition. The course will then look at how electricity trading operates, the challenges of integrating variable RES into power grids and how coupling of Day-Ahead Markets increases liquidity and enhances the convergence and stability of prices. The training will provide participants with the necessary tools to better understand market power and the role of regulators can play in contrasting it. Parallel with the theoretical presentations, participants will be exposed to practical group works and an online simulation of electricity trading!
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