The Regulation of the Power Sector
2 October 2017 – 12 February 2018 | Online
Why this course matters
Power system regulation is never at a rest, and this is particularly true for the power systems of today. This course is offered at a time when power sectors all over the world are facing their toughest challenges since their creation 150 years ago.
Adequate regulation will be needed to address issues such as the de-carbonisation of the sector, the integration of renewable energy, active demand response, the integration of ever bigger markets, and last but not least, universal access to energy.
High-quality knowledge will be needed to respond to these challenges of the power sector, and this course is designed to give you a solid grasp of the fundamentals, and start your journey towards becoming an energy regulation expert.
Igancio Pérez-Arriaga, Course Director
Discover more about the key aspects of this course
This course will provide you with the fundamentals for working in power sector regulation, whether in a regulatory commission, in a regulatory department within a company or as a policy maker.
Led by world class experts, the course will give you a comprehensive understanding of the main concepts and ideas of power sector regulation from an engineering, economic and regulatory perspective.
Ideal Knowledge Level
This course targets individuals already involved in power system regulation, or those who wish to get involved. No specific background is required to follow the course, although a degree in engineering or economics may help you understand some of the more complex topics.
Placing emphasis on course accessibility to professionals from all backgrounds not only enhances the learning experience, but also encourages knowledge-sharing and creates great opportunities for networking.
Six hours peer week
This course adopts the prosumer learning approach: you will be a consumer and a producer of knowledge at the same time.
In this course you will:
- Collaborate in knowledge building with participants from all over the world
- Watch video lectures by world-class instructors
- Gain access to distinguished publications
- Dive into individual assignments (quizzes, final paper)
- Engage in lively forum discussions and debates
- Attend webinars, live events & weekly live classes with the instructors
Every week your Module instructor will be on video to answer all your questions, clarify the main issues and dig in deeper in the topics of the course. If you can not attend the live class, a recording will be made available afterwards.
Forum debates on diverse energy topics
You will work together in groups of up to 10 people on a wiki-style document focused on one international power system of your choice.
The purpose of this paper is to define 10 regulatory measures for a power system of your choice.
Exclusive ebook access
Access an online version of ‘Regulation of the Power Sector’, edited by Ignacio Pérez-Arriaga for the duration of the course, with the option to order a printed pdf of the book for $24.99
Normal e-book price – €166.00/ $210.00
Expected Learning Outcomes
To successfully complete this course, you are expected to pass a quiz at the end of each module, contribute to the discussion forums, and choose a power system on which you will do either a group project or an individual project, as well as a final paper.
You must achieve a grade of 60% or higher to receive a certificate of successful completion. If you score 90% or higher, your certificate will also receive a mark of excellence.
Ignacio Pérez-Arriaga has over 25 years of professional and academic experience advising governments and companies and teaching power sector regulation in over 30 countries around the world. Currently, he is a Professor and Director of the BP Chair of Energy and Sustainability at Universidad Pontificia Comillas (UPC) in Madrid, a Professor at the Massachusetts Institute of Technology (MIT) in Boston, and he is Training Director at the Florence School of Regulation.
Ignacio is a life-time member of the Spanish Royal Academy of Engineering. Formerly, he was a board member on the Spanish Electricity Regulatory Commission and the Electricity Market Committee in Ireland.
Structure of the Course
The Technology and Operation of Power Systems – 2 October 2017
Instructor: Michel Rivier – Live Class: 5 October at 14:00 CET
Topics: What are electricity’s unique characteristics? How does the complex infrastructure of power systems impact the economics behind investment decisions and regulatory policy?
Regulatory Principles and Institutions – 9 October
Instructor: Tomas Gomez – Live Class: 12 October at 14:00 CET
Topics: What is regulation, and why do we need it? What is the history of power system regulation, and how do regulatory institutions operate? What are the different models for power markets, and what are the regulatory impacts for each?
Power System Economics – 16 October
Instructor: Pablo Rodilla – Live Class: 19 October at 14:00 CET
Topics: How does the power sector work from an economic point of view? How is pricing for demand calculated, how is that demand met by generation under either central planning or market conditions, and what external costs impact power system operations?
Monopoly Regulation – 23 October
Instructor: Rafael Cossent – Live Class: 26 October at 14:00 CET
Topics: What is the economic rationale behind monopolies? How is cost-of-service regulation used on monopolies, and how does it compare to incentive based regulation? How are these models implemented in practice by regulators?
Study Week – 30 October – 5 November
Electrical Distribution – 6 November
Instructor: Rafael Cossent – Live Class: 9 November at 14:00 CET
Topics: How are distribution grids changing? Learn how remuneration and incentives for DSOs are structured and how smart grids can address the challenges of distributive energy resources or ‘prosumers’.
Electrical Transmission – 13 November
Instructor: Luis Olmos – Live Class: 16 November at 14:00 CET
Topics: How to regulate transmission in free markets? How are nodal prices calculated, and what models should be used to guide investment in transmission networks? What business models exist for investment decisions, and what are the pros and cons of each? How should transmission pricing be charged to different users? What is the best approach for congestion management?
Electrical Generation and Wholesale Markets – 20 November
Instructor: Carlos Batlle – Live Class: 23 November at 14:00 CET
Topics: How to manage the generation aspect of power systems, how wholesale markets can solve the dispatch of generation in a competitive environment, how intraday markets operate, and how to manage market power to avoid market failure.
Electricity Tariffs – 27 November
Instructor: Javier Reneses – Live Class: 30 November at 14:00 CET
Topics: Examine the components of electricity tariffs, how use-of-system tariffs are designed, how to correctly calculate the generation component of tariffs, and the other factors which can impact on tariffs.
Electricity Retailing – 4 December
Instructor: Carlos Batlle – Live Class: 7 December at 14:00 CET
Topics: Learn about the liberalisation of electricity retailing, how retail markets function, and the regulatory challenges that come with a move to liberalisation to allow a genuinely competitive retail market to take hold.
Regional Markets – 11 December
Instructor: Luis Olmos – Live Class: 14 December at 14:00 CET
Topics: Learn about the benefits of regional markets and the key features of the EU and US regional markets. How is capacity allocated in a regional market, and what are the main regulatory objectives in a regional market?
Winter Break + Study Weeks: 18 December – 7 January 2018
Activity: During this weeks, we encourage all participants to work on their research project, catch up on course material and make sure they understand the fundamental topics before moving on to the more complex lessons in the next block. During this week break in the course, you will have free time and we will be able to offer limited support due to the holiday closures.
Environmental Regualtion – 8 January 2018
Instructor: Pedro Linares – Live Class: 11 January at 14:00 CET
Topics: Learn the impact of electricity on the environment, and how the move to sustainability involves finding a balance between keeping electricity supply secure and affordable while improving access to energy and the impact on the environment. Learn how to design policies for renewable integration, regulatory instruments used in environmental regulation, and the impact of renewables on energy markets.
Security of Supply – 15 January
Instructor: Pablo Rodilla – Live Class: 18 January at 14:00 CET
Topics: How to guarantee that the market will expand generation properly? How can the regulator work with the market, and what mechanisms are used to achieve security of supply? Specific attention is paid to the Reliability Option mechanism’s success from the point of view of demand and generation.
Interaction of Gas and Electricity Markets – 22 January
Instructor: Pablo Duenas – Live Class: 25 January at 14:00 CET
Topics: Examine the similarities and differences between electricity and gas, downstream natural gas markets, and gas security of supply.
Power System Project Week – 29 January
Final Policy Paper Week – 5 Februay
- Corporate – 1700€
- Regulators & Public Bodies – 1300€
- Individuals (self-employed or unaffiliated) – 650€
- Students (with certificate of current studies) – 400€
Special offer: For FSR donors and group enrollments (starting from 10% for 2 participants from the same organisation, up to 50% discount for 5 or more).
The group discount is only applicable on Corporate and Public Bodies fees.
Cancellation policyPaid registration fee is non-refundable. However, registrant substitution may be made up to 20 days before the start date of the course.
Registering Multiple ParticipantsPlease register each participant separately, to comply with the EUI data protection policy and also as the information given here will be used to set -up the individual account of the course participant
Payment ConfirmationPlease note that you must complete the payment process to complete your registration. For payment by credit card, you will receive by email a confirmation of payment. For payment by bank transfer, please send copy of the bank transfer to email@example.com. Upon request, you can get a confirmation of payment once the payment has been registered by our accounting department.