The energy crisis that was triggered by the Russian war in Ukraine has led European power markets to unprecedented levels of prices and stress. It has also led to wide ranging policy interventions and calls for reforms of the wholesale electricity market design.
The course gathers a group of senior practitioners to discuss and share experiences about both the economic and political forces that drive the debate on the evolution of power and carbon markets to enable and support the decarbonisation of the power sector.
The course builds on key economic principles and an interactive approach to discuss current policy debates on the reform of electricity markets, the implementation of RePower EU and Clean Energy Package, the introduction of capacity mechanisms, scarcity pricing, the reforms of bidding zones, as well as the reform of renewable support mechanisms and the European Emission Trading Scheme.
The FSR Executive Course directed by Thomas-Olivier Léautier (TSE and TotalEnergies) and Fabien Roques (FSR, University Paris Dauphine and Compass Lexecon) discusses the micro-economics of wholesale power and carbon markets and their implications for the restructuring of European electricity markets.
Take part in this course by the Florence School of Regulation and find answers to these burning questions:
Impact of the current crisis
The aim of the course is:
This blended training will be divided in 3 modules:
Module 1 (9 May – 23 May 2023): Theory of power markets and carbon pricing (Online)
Online readings and video lectures on the course platform.
9 May 2023
Theory: The fundamental concepts of micro-economics of wholesale electricity markets
Topics: Long term supply and demand balance in electricity markets; Designing wholesale physical electricity markets; Market design and system operation; Market power, price caps, and missing money; Markets, policies, and hybrid models; Support mechanisms for clean technologies; Emissions trading and the ETS
Module 2 (25 May – 26 May 2023): Practice – Power markets and carbon trading in practice (Residential)
Residential lectures in Florence on the reform of the European electricity market architecture.
25 May 2023
26 May 2023
Module 3 (9 or 13 June 2023 – TBC): Case Studies (Online)
Online webinars by experts in the field.
9 or 13 June 2023 (TBC)
Theory: The fundamental concepts of micro-economics of wholesale electricity markets
Long term supply and demand balance in electricity markets
Designing wholesale physical electricity markets
Market design and system operation
Market power, price caps, and missing money
Markets, policies, and hybrid models
Support mechanisms for clean technologies
Emissions trading and the ETS
After the training participant will be able to:
Registration is open to all professional from the energy sector. The training is designed for experienced managers and targets professionals from energy companies, both utilities, TSOs and DSOs, NGOs, and representatives from National and European Regulatory Authorities, but also academics and researchers.
Please note that the training course is given in English and basic knowledge of engineering or economics is highly recommended.
Please do note that this is an Executive Course and only participants that meet the specific target requirements will be admitted. Participants are required to enclose to their registration form a short CV (max. 2 pages). Participants will receive a response regarding their admission two weeks after the registration deadline.
At the end of the course, participants will receive a Certificate of Participation.
Please note that both parts of the courses (online and residential) are mandatory to successfully complete it.
Each year, the Florence School of Regulation – Energy and Climate (FSR Energy & Climate) awards scholarships for a wide variety of training courses targeting a broad audience of professionals and academics.
Applications will be assessed by a Selection Committee of FSR members on a yearly basis. The successful candidates will be informed by the end of February 2023 and will be provided with all relevant information on how to enroll in the online course or residential training of their choice.
Send your application by 31 January 2023.
The course fee includes:
The course will have an online part and a residential part in Florence. It will include recorded lectures, interactive live sessions, and group work activity. Both parts of the courses are mandatory to successfully complete it. Please note that the course fee will only cover one dinner and one lunch, but not travel and accommodation costs. During the residential course, a shuttle bus will depart from Piazza Santa Maria Novella to reach the EUI premises.
Paid registration fee is non-refundable. However, registrant substitution may be made up to 20 days before the start date of the course.
The Executive Course to master Electricity Markets discusses the micro-economics of wholesale power markets and their implications for energy policies. The course illustrates the efficiency properties of markets as well as their limitations. It covers the short-term dispatch, the long term supply and demand balance. Environmental policies and their impact on electricity markets will also be examined.
I just completed the Executive course 2021 edition and I have to say that it was a great experience. The lectures were well-structured and the live classes combined with the supplementary readings produced a lot of animated discussions about how theory is implemented in practice. I particularly liked the use case assignment because it allowed diving deeper into the topics explored in the lectures and collaborating with a quite diverse group of people.
When I joined this course, I had no idea about Electricity Market. Now I not only know a bit of Electricity Market, I have learned about European Green Deal and much more about various European Countries. The video were short and to the point. Both Thomas and Fabien motivated us to pushed us to excel. The quizzes were brilliant and finally all the course participants were exceptionally great professional.
Great overview of how electricity markets function in theory and in the real world, and the political drivers for why those are rarely the same. Would recommend for anyone looking to understand the future drivers of power markets and the tough decisions that need to be made by the world's leading economies.
I highly recommend this course to anyone who wants to understand the electricity market both theoretically and practically. Working through the course material online is so flexible and I found it easy to fit my own time.
Just finished Florence School of Regulation - FSR Energy Executive Course to Master Electricity Markets: Two days of intense and very inspiring discussions on the microeconomics and the political economy of power market design and regulation, including new insights on how digitization and fast-growing renewables will shape the power market of the future!
A very interesting group that shared their opinions and visions about electricity markets and the challenges for decarbonisation and renewables integration under the Clean Energy Package .
Just finalized the two-day Executive Course to Master Electricity Markets in Florence School of Regulation - FSR Energy. Great discussions on the implications of regulation, incl. the CEP, on having efficient European electricity markets to support the Energy Transition. Also took home some interesting reading to go even more into depth.
An interesting course about the key market design developments and challenges in electricity market integration. While priorities of the more matured markets may differ from those in the less matured electricity markets, fundamental principles underpinning electricity markets remain more or less the same.
Very useful and great networking. I have started reading the book already and it is great as well!
I like the diversity of people in the group there were very interesting people.”
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