Low-carbon Grids: Operation & Economics (ELEN90092)
Graduate courseworkPoints: 12.5Dual-Delivery (Parkville)
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About this subject
Contact information
Semester 2
Overview
| Availability | Semester 2 - Dual-Delivery |
|---|---|
| Fees | Look up fees |
This subject introduces the student to foundational aspects of economic, secure and resilient operation of low-carbon power systems and electricity markets with large shares of variable and uncertain renewable energy sources and distributed energy resources. The underlying framework is the so-called “affordability-sustainability-security” energy trilemma, which seeks to strike a delicate balance among: the desire to operate power systems at low cost (“affordability”); the desire to meet specific environmental targets (“sustainability”); and the need to “keep the lights on” (“security”), including after extreme events (“resilience”). In order for the energy trilemma to be analysed in the context of a competitive market environment, the subject will provide the student with fundamentals of economics, operation of electricity markets, optimal bidding strategies of different market stakeholders, economics of transmission and distribution networks, and role of new technologies and commercial entities such as storage, demand response, aggregators, virtual power plants, and so on. Different aspects of power system security will be analysed, from system-level requirements and constraints to provision of security services from market stakeholders. Furthermore, it will be shown what technical measures could be put in place, and their economic consequences, to guarantee that the system stays resilient in the presence of extreme events, for example driven by climate change. Fundamentals of optimization, including nonlinear constrained optimization and quadratic and linear programming, will also be taught to provide the student with the tools required to understand and model current and future power system and energy market operation.
Intended learning outcomes
On completion of this subject, students will be able to:
- ILO 1 - Master fundamental knowledge of mathematical programming techniques and basic optimization tools for power system and electricity market applications
- ILO 2 - Assess different operational aspects of supply and demand balance and security, what requirements are needed in the presence of renewables, and how security considerations affect the techno-economic operation of a power system, with use of simulation tools and software packages for network-constrained system and market operation
- ILO 3 - Explain the difference between security, reliability and resilience and discuss what means could be put in place to make a secure power system more resilient to extreme events
- ILO 4 - Master basic concepts from economics and their applications to network-constrained and security-constrained electricity markets with variable and uncertain renewables
- ILO 5 - Develop optimal bidding strategies for different electricity market stakeholders and evaluate the behaviour of electricity market agents subject to price uncertainty
Generic skills
- Ability to apply fundamental mathematical programming concepts to problems in power systems and electricity markets;
- Ability to apply fundamentals of science, engineering and economics to solve real-life problems associated with power systems and electricity markets;
- Ability to identify, formulate, analyse and solve practical techno-economic engineering problems;
- Ability for in-depth technical competence in power system engineering and electricity market topics;
- Ability to communicate and work effectively with teams;
- Capacity for independent critical thought, rational assessment and self-directed learning;
- Ability to write technical reports in a clear and concise manner;
- Ability to present results of technical investigation to a large audience
Last updated: 31 January 2024
Eligibility and requirements
Prerequisites
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ELEN90074 | Introduction to Power Engineering | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
AND
Note: the following subject/s can also be taken concurrently (at the same time)
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ELEN90060 | Power System Analysis | Semester 2 (Dual-Delivery - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
None
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 31 January 2024
Assessment
| Description | Timing | Percentage |
|---|---|---|
One 3-hour written examination. Intended Learning Outcomes (ILOs) 1-5 are addressed in this assessment.
| During the examination period | 60% |
Three workshop reports completed individually or in small groups of 3-4 students (TBD), not exceeding 20 pages per report. Submitted in week 5, week 9, week 12 (indicative times). Approximately 15-20 hours of work per report per student. ILO 1 (Workshop 1), ILOs 2 and 3 (Workshop 2) and ILOs 4 and 5 are addressed in this assessment.
| Throughout the teaching period | 40% |
Last updated: 31 January 2024
Dates & times
- Semester 2
Coordinator Pierluigi Mancarella Mode of delivery Dual-Delivery (Parkville) Contact hours Lectures: 36 hours (3 hours/week) Tutorials: 12 hours (1 hour/week) Workshops: 9 hours (3 hours/workshop) Total time commitment 200 hours Teaching period 25 July 2022 to 23 October 2022 Last self-enrol date 5 August 2022 Census date 31 August 2022 Last date to withdraw without fail 23 September 2022 Assessment period ends 18 November 2022 Semester 2 contact information
Last updated: 31 January 2024
Further information
- Texts
- Related Handbook entries
This subject contributes to the following:
Type Name Course Master of Energy Systems Course Master of Engineering Specialisation (formal) Electrical Specialisation (formal) Electrical with Business - Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Please note Single Subject Studies via Community Access Program is not available to student visa holders or applicants
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
- Available to Study Abroad and/or Study Exchange Students
Last updated: 31 January 2024