Welcome to Electricity Markets and Power System Optimization


This course provides a detailed description of decision-making tools for modern power systems under the market environment, addressing the perspectives transmission expansion planning, unit commitment and economic dispatch. These tools rely on stochastic optimization, complementarity theory and decomposition algorithms.
The main topics are as follows:
 Introduction to the electricity market organization
 Modeling the competition in electric energy markets
 Stochastic unit commitment to coop with the renewable generation
 Probabilistic midterm transmission expansion planning in liberalized markets
 Decomposition for large-scale optimization problems

Day 1: Impact of renewable energy sources in short-term generation planning. Stochastic Daily Unit Commitment. Implementations in GAMS, Julia and Python. Andrés Ramos (7 h)
Uncertainty and variability of renewable generation resource may drastically affect the short-term operation planning of the electric system. This module will cover how to introduce these specific characteristics of renewables in a unit commitment model.

Day 2: Medium-term Stochastic Hydrothermal Coordination Model. Scenario tree. Stochastic measures. Implementation in GAMS. Andrés Ramos (7 h)
Some generation resources, such as hydro reservoirs, require a medium-term (weekly, monthly, annual) vision for their efficient operation. This module will include this medium-term scope in your decision-making.

Day 3: Generation and Transmission Expansion Planning. Implementation in GAMS. Andrés Ramos (7 h)
Power generators and transmission lines are capital-intensive infrastructure whose lifetimes span from 15 to 40 years. Decisions of today will last several years and may compromise climate change objectives. Expansion planning is the framework to understand the implications of long-term decisions and they can help in climate change policies.

Background in power system optimization, and fundamental knowledge in electricity markets.

Form of evaluation:
Assignments to be completed, then the reports to be submitted and evaluated after the course

Organizer: Z. Chen, Professor, email: zch@et.aau.dk, Aalborg University, Denmark

Lecturers: Andrés Ramos Galán, Professor Andres.Ramos@comillas.edu, Universidad Pontificia Comillas, Spain


Time: 12 – 14 February, 2020 / 8:30-16:30 


Zip code: 


Number of seats: 30

Deadline: 22 January 2020

Important information concerning PhD courses: We have over some time experienced problems with no-show for both project and general courses. It has now reached a point where we are forced to take action. Therefore, the Doctoral School has decided to introduce a no-show fee of DKK 5,000 for each course where the student does not show up. Cancellations are accepted no later than 2 weeks before start of the course. Registered illness is of course an acceptable reason for not showing up on those days. Furthermore, all courses open for registration approximately four months before start. This can hopefully also provide new students a chance to register for courses during the year. We look forward to your registrations.