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The future is electric: which electricity market design is fit for the clean energy transition?
Electricity plays an increasingly central role in our lives, notably due to IT applications and electronics. In addition, we see the growing electrification of energy usages such as mobility, heating and cooling. What does this mean for the electricity system and its crucial requirements around the reliability and security of supply?
Today, the electricity system is under the profound transformation of decentralisation, decarbonisation and digitalisation. This transformation is occurring while the liberalisation of the electricity markets initiated in the mid-1990s in Europe is still a work in progress, especially on the retail side. In this context, in November 2016, the European Commission proposed a new market design as part of the Clean Energy for All Europeans Package. This led to the European Member States’ and the European Parliament’s adopting a new framework that will have to be translated into national law.
There is no doubt that electricity plays a core role in the energy transition, and renewable electricity generation is expected to be a major piece of this future energy system. But do we have a suitable electricity market design in place to bring this transition to life? Take this course to find out.
- How are the electricity markets designed and where exactly does the value lie in the electricity system?
- What are the incentives to invest in capacity and infrastructure?
- Is the current business model of utilities compatible with the growing integration of renewable sources of energy?
What will you learn?
After taking this course, you will:
- Be familiar with the main features of conventional electricity infrastructure, the key parameters of generation technologies, and the importance of supply and demand balance.
- Know the basics of electricity economics and how the electricity system was designed when it was a monopoly.
- Understand the fundamentals of wholesale electricity markets after the liberalisation, and identify the roles that different stakeholders play.
- Have a grasp of the electricity price tendencies on the wholesale and retail markets.
- Develop your views on the need of an integrated and renewed EU electricity market design.
How will you learn?
This is an online course designed to maximise impact and flexibility. As long as you have access to the internet, you can pursue your learning anytime, anywhere at the pace and rhythm that works for you. Teaching methods include:
- Eight self-paced (video) lessons, each 45-60 minutes long
- Multiple-choice tests after every lesson
- Discussion assignments, which will give you the opportunity to reflect on relevant topics and share your thoughts throughout the course.
We advise you to spread your learning over a period of four weeks.
Who will teach you?
Energy and Innovation Adviser at EIT InnoEnergy
Pierre 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 the intersection of energy and climate, innovation, and EU Affairs.
Is it right for you?
This course is aimed at:
- Policy makers looking 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 of ventures related to the electricity system (e-mobility, smart grids etc).