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ERRA Events 2008
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Electricity Markets Training
January 21-25, 2008
Budapest, Hungary
Co-hosted by the Energy Regulators Regional Association (ERRA) and the U.S. National Association of Regulatory Utility Commissioners (NARUC)
Sponsored by
U.S. Agency for International Development (USAID)
Course Outline
Liberalisation of the electricity sector has been a very important development worldwide in the past two decades, and is still an ongoing process in many transition countries.
This course aims to provide a thorough introduction to the most important economic issues surrounding the creation and successful operation of electricity markets.
Topics discussed during the first half of the week include an explanation of relevant economic concepts, the characterisation of competitive and oligopolistic markets, the dangers of market power abuse and the effect of the presence of essential facilities on market operation.
Within this general market framework, the second half of the course will cover the special issues regarding the demand and supply of electricity, the design of various market structures and the role of the electricity network in a competitive environment.
The course will focus on the following issues:
- Economics of competitive markets;
- Demand for and supply of electricity: major characteristics;
- Wholesale markets for electricity: design and operation;
- Supply characteristics of electricity networks and network issues in electricity markets;
- Economics of market power and antitrust in electricity markets
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