Evolution of Electricity markets in Europe

9 WEEK Online Course

EU Electricity Network Codes & the Clean Energy Package

Enter the world of electricity markets in Europe

‘Evolution of electricity markets in Europe’ is an 9-week online course in collaboration with the European Commission, ACER, and ENTSOE. Each week has reading activities, quizzes, forum discussions, and a live class to wrap-up the week. Participants interact with each other, with the instructors, and with expert panels.

The implementation of EU Electricity Network Codes and the Clean Energy Package is changing electricity markets in Europe. During this training, we provide a platform for experts to share experiences, and for non-experts to get up to speed with the evolution of electricity markets in Europe.


Course director
Leonardo Meeus
  • Dates
    22 Sep 2020 - 22 Nov 2020
  • Level
  • Type
  • Workload
    4-8 hours/week
  • Register by
    18 Sep 2020

European Commission, ACER and ENTSO-E invited Florence School of Regulation to organise this training. Electricity markets are undergoing a lot of changes, and it is not easy to keep up. With this training we want to make it easier for stakeholders to engage in the ongoing electricity market integration process.  

This online training is the successor of 3 editions of the ”EU Electricity Network Codes course”. EU Electricity Network Codes are still important for this course as these shape electricity markets in Europe as we know them today. However, in this course, we also take a look back at how electricity markets evolved from the onset of liberalisation and take a look forward at how the recently adopted Clean Energy Package changes relevant rules and regulations. The course focuses on the integration of electricity markets in Europe from forward markets to day-ahead, intra-day and balancing markets. We also cover the importance of data exchanges, system operation and technical requirements for grid connections. A brand new book serves as background reading for the different learning weeks.

We also continue to engage with the alumni of this training. They have access to an online platform where we share and discuss our ongoing research on the evolution of electricity markets in Europe. 


Welcome to the course
Live class: 22 September 2020 – 12-1pm CEST 

Week 1: How to organize wholesale trade for electricity? Who gets the rights to trade across borders? (23 September – 29 September 2020)
This week covers two large topics. We discuss how to organise trade for electricity, and we look at the European experience with the allocation of the rights to trade across borders (i.e. transmission rights). We cover the topics of historical privileges to trade across borders, market-based allocation of transmission rights and the evolution from explicit to implicit auctions (also ‘market-coupling’), and the implementation of market coupling in the day-ahead timeframe. We also touch upon relevant developments in the timeframes before and after day-ahead.
Live class: 29 September 2020 – 12-1pm CEST
Topics: Nominated Electricity Market Operators, Market Coupling Operator Function, EUPHEMIA, XBID, Joint Allocation Office, Financial Transmission Rights

Week 2: How do you calculate border trade constraints? (30 September – 6 October 2020)
In this week, we discuss how to calculate border trade constraints. We explain why it is important to focus on these constraints, why we calculate trade constraints on virtual borders and who is best placed to carry out such calculations. We introduce the concept of flow-based market coupling, cover the topics of regional collaboration among TSOs and data exchange, and look at open issues when it comes to border trade constraints and their calculation.
Live class: 6 October – 12-1pm CEST 
Topics: Bidding Zones, Flow-based Market Coupling, Capacity Calculation Regions, Common Grid Model, Remaining Available Margin

Week 3: Who is responsible to balance the system? (7 October-13 October)
In the third week, we explore how system balancing is organised in Europe. We discuss how the responsibility is shared between system operators and introduce the concepts of frequency containment, frequency restoration and reserve replacement. We explain balancing responsible parties and imbalance settlement, and cover the topics of balancing capacity tenders, balancing energy markets and the related issue of scarcity pricing in balancing markets. Cross-border balancing markets and the European platforms for the exchange of balancing energy are other important topics of this week, as are open issues in the field of congestion management in balancing markets.
Live class: 13 October – 12-1pm CEST 
Topics: Balance Responsible Party, Balancing Service Provider, Frequency Containment Reserves, Frequency Restoration Reserves, Replacement Reserves, Gate Closure Time, Imbalance Netting, Load-Frequency Control Area, European platforms.

Week 4: How to organize system operation and connection requirements? (14 October – 20 October 2020)
In this week, we explain why it is important to pay attention to the detailed technicalities of system operation and connection requirements. We explore if and how regional system operation is organised regionally and touch upon the new framework to prevent, prepare for and manage electricity crises in Europe. A large part of this week is the different concepts in two of the EU connection network codes (RfG NC and DC NC) and the ongoing implementation of the connection network codes, including the special case of energy storage.
Live class: 20 October – 12-1pm CEST 
Topics: Regional Coordination Centre, Critical Grid Situation, Power-Generating Modules, Power Park Module, Rate of Change of Frequency, Significant Grid User.

Week 5: Legal dimension of the codes (21 October – 27 October 2020)
Live class: 27 October – 12-1pm CET

Week 6: Buffer week to work on Mastery Challenges
28 October – 9 November 2020

Week 7: Mastery Challenges

Mastery Challenge on digital data and data exchange
Live expert panel: 10 November 2020 – 12-1pm CET

Mastery Challenge on legal issues
Live expert panel: 12 November 2020 – 12-1pm CET

Week 8: Mastery Challenges
Mastery Challenge on bidding zones
Live expert panel: 17 November 2020 – 12-1pm CET

Mastery Challenge on integration of DER and flexibility
Live expert panel: 19 November 2020 – 12-1pm CET


The course is given in English and developed for: 

  • Broad target group of Adult learners 
  • Electricity markets experts and beginners 
  • Everyone affected by the electricity market integration in Europe, including: TSOs, NRAs, Governments, European Associations, Utilities, New Energy players, Stakeholders. 

The participants can take the course on 3 different levels: 

  • 1) Investigator: Learn to speak the language of the electricity markets in Europe and to understand the content of relevant legislation) 
  • 2) Advocate: Learn to discuss and debate the European electricity markets with colleagues and field specialists 
  • 3) Master: Learn to discuss, analyse and attempt to solve/improve a European level real life case  

The amount of time required to take this course depends on the aimed course level as well as the level of expertise in the subject prior to joining the course. For example: 

  • Novice to Investigator: 4-6 hours/week 
  • Novice to Advocate: 6-8 hours/week 
  • Novice to Master: 8-10 hours/week 
  • Expert (Advocate level understanding of the topic) to Master: 5 hours/week 

At the end of the course, the participants can earn a Certificate of Attendance, a Certificate of Completion or a Certificate of Excellence, depending of their performance and engagement throughout the course.

Fees & Cancelation policy
  • General fee: 1000 €
  • Students (with certificate of current studies): 400 €
  • Two free seats for FSR Energy Major Donors
  • One free seat for FSR Energy Associate Donors

Paid registration fee is non-refundable. However, registrant substitution may be made up to 20 days before the start date of the course.

In collaboration with

The Learning Approach
Personalised Learning
This course offers three different engagement levels, based on your prior knowledge and the amount of time you can dedicate to the course.
Live Class
Every week, participants-led sessions to deep dive in the topic and interact with your instructors. Live classes are always recorded.
Mastery Challenge
A chance to collaborate with your peers on a European real-life case and discuss it with the main experts in the field.
This course gives you instant feedback on your activity in the form of badges. The badges will be converted in the final certificate, which can be shared on your social networks.
Course Faculty

Where participants come from

Any doubt?
Contact your course facilitator

Contact Chiara
What Participants say about this course

It was a great opportunity for me in attending to this course and learning the up-to-date developments in energy markets. The course was very satisfying and it has been well-balanced between theory and practice. Forum discussions were very informative and helpful in discussing the topics from different perspectives. I am very grateful for the valuable support of FSR and its staff, especially at these hard times.

Erol Unal | Participant of the 2020 edition

The course provided me with a better overview of the history and development of European electricity markets. I really enjoyed the interaction with other course participants and the enthusiastic and knowledgeable instructors.

Victor van Campen | Participant of the 2020 edition

Well structured format with pre-read material in combination with live classes once a week. Work-load manageable parallel to job and life. Online format allows to take the course irrespective of your current location. Rather advanced contents. Thus, course requires at least some familiarity with the subject matter.

Participant of the 2020 edition

One of the very impressive aspects of the course was the way that the course text, live sessions, online discussions and group challenges all worked together in an integrated way to deliver the training.  The interaction with other course participants from around the EU, all sharing their own experience of the issues in practice, was particularly valuable. 

Peter Willis, Bird & Bird

The course was very useful. In my opinion the course was appropriate approach for sharing knowledge of Network codes with wide spectrum of participants.

Participant of the 2019 edition

Very well done. I had some reservations against online courses before, but this one has really fulfilled my expectations. The subject is pretty dry and technical, but however you have arrived to make it compelling and very interesting. The short videos of Leonardo at the beginning of this lesson arrived to put some "fun" into the subject. He was goo as well leading the panels. I have really enjoyed the course. Congratulations!

Participant of the 2018 edition

Just a quick note to say how impressed I have been with the excellent interactive online course on the electricity network codes, run by the Florence School of Regulation. It was very well taught by Leonardo Meeus and Tim Schittekatte, with special guests from ACER, ENTSO-E, the Commission etc.

Participant of the 2018 edition

Everything is so professional and perfectly scheduled. Especially the live classes and forum discussions create great value for me

Participant of the 2018 edition

Overall it was a great and very helpful course. The course text was particularly helpful to me in digesting the Network Codes. The Forum for discussion for each quiz was great. So many knowledgeable experts participated, which was very interesting to read! Overall really a great course!

Participant of the 2019 edition
Course in numbers
Experts Involved

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