- Oggetto:
- Oggetto:
Energy Economics (Classes on Mon, Tue, Wed, 10-12 on my webex page)
- Oggetto:
Energy Economics
- Oggetto:
Anno accademico 2020/2021
- Codice dell'attività didattica
- ECM0200
- Docente
- Valeria Di Cosmo (Titolare del corso)
- Corso di studi
- Laurea magistrale in Economia dell'Ambiente, della Cultura e del Territorio - a Torino [0403M21]
- Anno
- 2° anno
- Periodo didattico
- Secondo semestre
- Tipologia
- Affine o integrativo
- Crediti/Valenza
- 6
- SSD dell'attività didattica
- SECS-P/02 - politica economica
- Modalità di erogazione
- Tradizionale
- Lingua di insegnamento
- Inglese
- Modalità di frequenza
- Consigliata/Recommended
- Tipologia d'esame
- Scritto
- Prerequisiti
-
Good English level (the class will be taught in English). Knowledge of statistics/econometrics and microeconomics is strongly reccomended. - Propedeutico a
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- Oggetto:
Sommario insegnamento
- Oggetto:
Obiettivi formativi
Course objectives
The objective of the course is to introduce students to the current issues in energy economics. Through course lectures, class projects and assignments, the students will learn about contemporary issues in energy economics. Some of the topics that students will learn about include: European energy policy, regulation of energy sectors, electricity, gas, heat and renewable energy markets, capital budgeting in regulated and liberalized markets. After successful completion of the course, the students will be capable to critically assess developments in the energy sector. The course will also prove beneficial to those students planning to pursue a career in energy-related positions.
Course objectives
The objective of the course is to introduce students to the current issues in energy economics. Through course lectures, class projects and assignments, the students will learn about contemporary issues in energy economics. Some of the topics that students will learn about include: European energy policy, regulation of energy sectors, electricity, gas, heat and renewable energy markets, capital budgeting in regulated and liberalized markets. After successful completion of the course, the students will be capable to critically assess developments in the energy sector. The course will also prove beneficial to those students planning to pursue a career in energy-related positions.
- Oggetto:
Risultati dell'apprendimento attesi
Expected learning outcomes
After completing the course, the students will have acquired the following:
- Understanding of the workings of energy markets in general and principles by which European energy policy is reflected in national energy policies.
- Verbal communication and presentation skills: through presenting case studies and projects, the students will improve their communication and presentation skills crucial in today's business world.
- Use of software tools.
Expected learning outcomes
After completing the course, the students will have acquired the following:
- Understanding of the workings of energy markets in general and principles by which European energy policy is reflected in national energy policies.
- Verbal communication and presentation skills: through presenting case studies and projects, the students will improve their communication and presentation skills crucial in today's business world.
- Use of software tools.
- Oggetto:
Modalità di insegnamento
Teaching methods
Due to the COVID19 emergency, all the classes will be held on my webex page:
Sala riunioni personale di Valeria Di Cosmo
https://unito.webex.com/meet/valeria.dicosmo | 846876999Accedi tramite sistema video
Chiama valeria.dicosmo@unito.webex.com
È possibile anche chiamare 62.109.219.4 e immettere il numero della riunione.Accedi per telefono
+39 0230410 440 Call-in toll number (Italy)
Codice di accesso: 846 876 999so everyone will be able to attend. Please register to the class through Moodle (follow at the end of the page the "go to Moodle" link). This may change following the COVID19 emergency. Students will be informed about changes through Moodle.
Teaching methods
Due to the COVID19 emergency, all the classes will be held on my webex page:
Sala riunioni personale di Valeria Di Cosmo
https://unito.webex.com/meet/valeria.dicosmo | 846876999Accedi tramite sistema video
Chiama valeria.dicosmo@unito.webex.com
È possibile anche chiamare 62.109.219.4 e immettere il numero della riunione.Accedi per telefono
+39 0230410 440 Call-in toll number (Italy)
Codice di accesso: 846 876 999so everyone will be able to attend. Please register to the class through Moodle (follow at the end of the page the "go to Moodle" link). This may change following the COVID19 emergency. Students will be informed about changes through Moodle.
- Oggetto:
Modalità di verifica dell'apprendimento
Evaluation method
There will be a written exam at the end of the course. This may chage due to the evolution of the COVID19 emergency
Evaluation method
There will be a written exam at the end of the course. This may chage due to the evolution of the COVID19 emergency
- Oggetto:
Attività di supporto
- Oggetto:
Programma
Schedule
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- Intro:
- Energy demand & covid 19
- Methods:
- Bottom-up
- Top-down
- Environmental targets
- Markets:
- Oil
- Gas
- Coal markets
- Res
- Wholesale electricity markets:
- Introduction: some data and description
- Covid19 and the electricity markets
- How do they work: DA, IM, balancing
- Interconnection between markets
- RES
- Spot market competition
- RES: investment, subsidies and sustainability
- RES and balancing markets
- Who pays for the energy transition?
- MSD, Capacity markets: potential problems and question open
- Forward markets
- Market power and competition in electricity markets+ California
- Retail markets:
- Average cost pricing
- Two part tariffs
- Ramsey pricing
- RTP : Munsur, tirole etc.
- Demand response
- -> insight : are people rational?: behaviour , smart meters , switching , NIMBY
- Storage, electric vehicles
- -> Insight on flexibility
- Hydrogen for storage
- Efficiency and demand management
- Energy Communities
- Energy investment:
- Investment evaluation
- NPV , IRR
- Risk analysis
- LCOE
- Investment evaluation
- Intro:
Schedule
-
-
- Intro:
- Energy demand & covid 19
- Methods:
- Bottom-up
- Top-down
- Environmental targets
- Markets:
- Oil
- Gas
- Coal markets
- Res
- Wholesale electricity markets:
- Introduction: some data and description
- Covid19 and the electricity markets
- How do they work: DA, IM, balancing
- Interconnection between markets
- RES
- Spot market competition
- RES: investment, subsidies and sustainability
- RES and balancing markets
- Who pays for the energy transition?
- MSD, Capacity markets: potential problems and question open
- Forward markets
- Market power and competition in electricity markets+ California
- Retail markets:
- Average cost pricing
- Two part tariffs
- Ramsey pricing
- RTP : Munsur, tirole etc.
- Demand response
- -> insight : are people rational?: behaviour , smart meters , switching , NIMBY
- Storage, electric vehicles
- -> Insight on flexibility
- Hydrogen for storage
- Efficiency and demand management
- Energy Communities
- Energy investment:
- Investment evaluation
- NPV , IRR
- Risk analysis
- LCOE
- Investment evaluation
- Intro:
-
-
Testi consigliati e bibliografia
- Oggetto:
Literature
Books:
Energy economics: concepts, issues, markets and governance by S. Bhattacharyya (chapters: 3,6,7,8,9,10,11,12, 13.1-13.3, 14-17,29)
Anna Creti and Fulvio Fontini: Economics of Electricity, market competition and rules (chapters: 3,6,11-13,19)
Papers
Natalia Fabra, The energy transition: an industrial economics perspective available here: http://nfabra.uc3m.es/wp-content/uploads/2020/12/SURVEY_EARIE-FINAL.pdf
Frank Wolak, Identification and Estimation of Cost Functions Using Observed Bid Data
Other papers&materials will be added if discussed in classes and will be available in Moodle
Other resources
World Energy Outlook (WEO) 2018, 2019, 2020. You can download those from the I-OECD section of the virtual UniTo library (access through bibliopass)
IEA, the future of hydrogen, 2019
For people interested in methods&econometrics&simulations (not compulsory):Rafal Weron, Modeling And Forecasting Electricity Loads And Prices: A Statistical Approach
Books:
Energy economics: concepts, issues, markets and governance by S. Bhattacharyya (chapters: 3,6,7,8,9,10,11,12, 13.1-13.3, 14-17,29)
Anna Creti and Fulvio Fontini: Economics of Electricity, market competition and rules (chapters: 3,6,11-13,19)
Papers
Natalia Fabra, The energy transition: an industrial economics perspective available here: http://nfabra.uc3m.es/wp-content/uploads/2020/12/SURVEY_EARIE-FINAL.pdf
Frank Wolak, Identification and Estimation of Cost Functions Using Observed Bid Data
Other papers&materials will be added if discussed in classes and will be available in Moodle
Other resources
World Energy Outlook (WEO) 2018, 2019, 2020. You can download those from the I-OECD section of the virtual UniTo library (access through bibliopass)
IEA, the future of hydrogen, 2019
For people interested in methods&econometrics&simulations (not compulsory):Rafal Weron, Modeling And Forecasting Electricity Loads And Prices: A Statistical Approach
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