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The future is electric: which electricity market design for the energy transition?
Electricity Markets | November
About this course
Electricity increasingly plays a central role in our lives, notably due to specific applications related to IT or electronics. In addition, we see a growing electrification of some energy usages, such as mobility or heating and cooling. What does this mean for the electricity system, that has reliability and security of supply as crucial basic requirements?
Today, the electricity system is in profound transformation: decentralisation, decarbonisation, digitalisation. This transformation occurs while the liberalisation of the electricity markets, initiated in Europe in mid 1990s, is still a work in progress, notably for the retail side. In this direction, the European Commission proposed a new market design in November 2016 as part of the Clean Energy for All Europeans Package, which led to the recent adoption by the European Member States and the European Parliament of a new framework that will have to be translated into national law in the coming months.
There is no doubt about the core role to be played by electricity for the energy transition, and renewable electricity generation is expected to be a major piece of this future energy system.
Take this course if you want to find out if we have the suitable electricity market design in place to bring this transition to life. How are the electricity markets designed and where exaclty lies value in the electricity system? What are the incentives to invest in capacities and infrastructure? Is the current business model of utilities compatible with the gorwing integration of renewable sources of energy?
Is this the course for you?
This course is aimed at:
- Policy makers willing to understand the ins and outs of the electricity system and the technical, economic and social challenges of the energy transition
- Energy technology officers willing to better understand where value lies in the electricity system
- Coaches accompanying ventures related to the electricity system (e-mobility, smart grids, etc)
However, it is open to anyone interested in the subject of electrification of energy usages and electricity market design.
How does the course boost my career?
After taking this course, you will be able to:
- Summarise the main features of the conventional electricity infrastructure, the key parameters of generation technologies, and the importance of balance between supply and demand
- Explain the basics of electricity economics and how the electricity system was designed when it was a monopoly
- Describe the fundamentals of wholesale electricity markets after the liberalisation, and identify the role different stakeholders play
- Explain electricity price tendencies on the wholesale and retail markets
- Present your views on the need of an integrated and renewed EU electricity market design
Teaching methods and materials
The course can be taken from your usual study or work location. It consists of 8 lessons and is self-paced. Each lesson is approximately 45-60 minutes long and contains video lessons and multiple-choice tests after every lesson. We advise you to spread your learning over a period of 4 weeks.
Through discussion assignments, you will have the possibility to reflect on the relevant topics and to share your opinion and thoughts from the beginning of the course.
Pierre Serkine is Energy & Innovation Adviser at EIT InnoEnergy. He joined the company in 2014 as technology analyst and then worked on consumer empowerment (behavioural change, prosumers, active consumers) and digitalisation.
He has a technical, economic and policy background, and his sweet spot lies at intersection of Energy & Climate, Innovation, and EU Affairs.
Who are the collaborators?