2. Market models in Europe
What is this week about?
In this second week, we will be diving further into the details of how electricity markets work in the EU. We'll take a history lesson, asking what was it that made the EU liberalize most of its markets in the early 2000s. What market model was used then and what is used now?
We'll answer the question of how our electricity usage at home affects the price of electricity through out the day. How can we match the demand for electricity with supply at every moment in the day? Who controls the market at each step? And how do the differing energy mixes in different countries affect the electricity price in that country?
Once again, we will be bringing back the Merit Order Model with a new twist, comparing two different countries with different energy mixes at once. The quiz based assignments will also make an appearance in this week.
By the end of this week, you will:
- Be able to apply restructuring methods to the electricity market and explain the wholesale and retail markets
- Be able to identify what effects of changing demand throughout the day and how it affects prices
- Be able to analyse the function of different, time-based electricity markets
- Be able to understand how regional differences in EU energy mixes can affect prices
Are you ready to delve deeper into the details of electricity markets? Let's go!