Theory and examples are presented during the lectures and are then applied by the students in a a number of home assignments:
- Electricity pricing. This assignment involves simplified models of the Nordic electricity market.
- Frequency control. In this assignment it is studied if a small system has sufficient reserves to maintain the frequency 50 Hz.
- Short-term planning of power generation. The objective of the assignment is to schedule the operation of a few power plants. An optimization problem is formulated and then solved in for example GAMS.
- Simulation of an electricity market. Here a small electricity market is analyzed using two different simulation methods (one analytical and one Monte Carlo method).