IEEE Smart Grid IEEE Smart Grid

Markets Tutorials

Presented by: Doug Houseman

This series of recorded tutorials are now available for purchase on the IEEE SmartGrid Resource Center. Scroll down for detailed session agendas.

Session prices vary based on IEEE membership. Each 80-minute session will be available for streaming for 1 year from purchase date. In addition, CEUs/PDHs will be available for purchase. To see all recorded tutorials and corresponding slides, please visit the IEEE Smart Grid Resource Center’s Education tab.

Tutorial Overview:

Topics will include positive implications for all distributed generation systems, particularly solar PV, energy storage and microgrids.

This online tutorial will cover the following topics in each session:

Session 1

  • History of energy markets
  • Evolution of LMP and market prices
  • Disconnect between wholesale markets and retail rates
Session 2
  • Review
  • Impact of DER and electrification on distribution
  • Changes in customer capability
  • Complexity of retail markets in the current grid
Session 3
  • Review
  • Transactive Energy – in concept and reality
  • Technology to enable transactive energy and required research
  • Social Justice in a retail market
  • Thinking through 21 December in an all renewable future
Session 4
  • Review
  • Transactive Energy in emerging economies
  • A transactive future – alternatives and options
  • Other market designs
  • Mating wholesale and retail markets

 

Presented by: Anthony Giacomoni, Senior Market Strategist, Emerging Markets, PJM Interconnection

This series of recorded tutorials are now available for purchase on the IEEE Smart Grid Resource Center. Scroll down for detailed session agendas.

Session prices vary based on IEEE membership. Each 80-minute session will be available for streaming for 1 year from purchase date. In addition, CEUs/PDHs will be available for purchase. To see all recorded tutorials and corresponding slides, please visit the IEEE Smart Grid Resource Center’s Education tab.

Tutorial Overview:

For nearly two decades, electricity markets have existed to facilitate the buying and selling of electricity at the wholesale level and to ensure the constant availability of competitively priced electricity. Electricity markets, however, are very different from traditional markets. They are designed to help ensure system reliability and prices are determined by an algorithm. This tutorial will discuss the fundamental aspects of how electricity markets in the U.S. are currently modeled and operated, and how prices are determined. Several examples will be used to help present these concepts. In addition, some frameworks to integrate carbon pricing into wholesale electricity markets will be discussed.

This online tutorial will cover the following topics in each session: 

Wholesale Electricity Market Modeling and Pricing – Session 1
  • Electrical Network Models
  • Electricity Market Current Practices
  • Sensitivities
Wholesale Electricity Market Modeling and Pricing - Session 2
  • Review of Session 1
  • Electricity Market Current Practices
  • Locational Marginal Pricing (LMP) and Congestion
  • LMP Calculation and Components
Wholesale Electricity Market Modeling and Pricing - Session 3
  • Review of Session 2
  • Marginal Loss Modeling>
  • Extended Locational Marginal Pricing (ELMP)
  • Examples
Wholesale Electricity Market Modeling and Pricing - Session 4
  • Review of Session 3
  • Examples (cont.)
  • Carbon Pricing