Energy Market & Trading I

Introduction and consolidation

The students are able to:
• recognize the interrelationships of factors influencing energy markets
• consider factors influencing the wholesale prices of electricity and gas
• transfer market processes for the provision of system services to energy portfolios
• use trading cascades in energy trading
• consider volatilities and optionalities in the energy market
• illustrate factors influencing price formation in the electricity market using the merit order
• consider the influence of CO2 on trading markets

none

• Trading cascade in the electricity and gas market
• Different markets for system services
• Fundamental factors influencing energy markets
• Markets for renewable energy sources
• Commodity futures trading
• Exchange vs. OTC
• OTC contracts
• CO2 trading markets
• Factors influencing the electricity price
• Merit order principle

• Bhattacharyya, S. C. (2019). Energy economics: Concepts, issues, markets and governance (2nd ed). Springer.
• Hafner, M., & Luciani, G. (Eds.). (2022). The Palgrave Handbook of International Energy Economics. Springer International Publishing. https://doi.org/10.1007/978-3-030-86884-0
• Kandpal, V., Jaswal, A., Santibanez Gonzalez, E. D. R., & Agarwal, N. (2024). Sustainable Energy Transition: Circular Economy and Sustainable Financing for Environmental, Social and Governance (ESG) Practices. Springer Nature Switzerland. https://doi.org/10.1007/978-3-031-52943-6
• Müsgens, F., & Bade, A. (2024). Energy Trading and Risk Management. Springer Nature Switzerland. https://doi.org/10.1007/978-3-031-57238-8
• Thewissen, J., Arslan-Ayaydin, Ö., Westerman, W., & Dorsman, A. (Eds.). (2024). The ESG Framework and the Energy Industry: Demand and Supply, Market Policies and Value Creation. Springer International Publishing. https://doi.org/10.1007/978-3-031-48457-5

Written exam

English

5

30

2.5

Blended Learning

1

director of studies

1

EM

integrated lecture

Compulsory

none