| Kommentar |
Electricity is set to become the dominant energy carrier in Europe. The corresponding sector is transitioning fast - entailing very specific economics questions – such as market power, cross-border trading, externality pricing, risk mitigation. The seminar provides an introduction to key issues in European energy policy – focusing on the electricity sector. In the seminar, specific policy challenges are introduced, and corresponding economics questions are identified. In assignments and presentations students employ (primarily empirical) microeconomic analysis methods to specific problems. Several assignments require some command of mathematical programing (e.g., Python or R).
- Organisation of the Seminar (distribution of topics/dates for presentation, commitment list, grading system) + Overview of European electricity sector 1: the regulatory basics
- Overview of European electricity sectors 2: main actors
- Homework: Market power in generation [calculating the HHI: data from openinfrastructure-maps]
- Overview of European electricity sectors 3: organization of cross-border trade
- Homework: Law of one price [scatterplot price-differential vs. electricity flows]
- Challenges of the Energy Transition 1: the electricity supply side
- Homework: Optimal dispatch for different generation mix
- Challenges of the Energy Transition 2: the electricity demand side
- Homework: Estimating demand elasticity [data: EnergyCharts]
- Challenges of the Energy Transition 3: electricity grids
- Homework: European value added [national vs. EU residual peak loads; data: ERRA]
- Challenges of the Energy Transition 4: electricity storage
- Homework: Valuating storages [Least Squares Monte Carlo; data electricity price series from SMARD)
- Electricity Markt Design 1: Short term markets and market power
- Electricity Markt Design 2: investment signals
- Homework: Payouts of different contract-mix [CfDs for Ukraine: data from GDU]
- European emission markets and their impact on the energy sector
- Homework: Fuel switching based on carbon prices [data: prices from ember]
- Final Session: Energy Security
Preconditions: Recommended is a command of mathematical programing (e.g., Python and/or R).
Participation limit: 24
Registration for the seminar takes place online via AGNES till October 08, 2025. |
| Bemerkung |
StO/PO MA 2016: 6 LP, Modul: "Topics in Microeconomics"
StO/PO MEMS 2016: 6 LP, Modul: "Topics in Microeconomics", Major: Microeconomics |
