1. Handbook
  2. Subjects
  3. Low-carbon Grids: Operation & Economics
  4. Print

Low-carbon Grids: Operation & Economics (ELEN90092)

Graduate courseworkPoints: 12.5On Campus (Parkville)

You’re viewing the 2024 Handbook:
Or view archived Handbooks

Overview

Availability
Semester 1
FeesLook up fees

This subject introduces the student to foundational aspects of economic, secure and reliable operation of low-carbon power systems and electricity markets with large shares of variable and uncertain renewable energy sources. 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”). 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 and aggregators. Different aspects of power system security will be analysed, from system-level requirements and constraints to provision of security services from market stakeholders. Basic concepts of optimization, including linear, quadratic, and mixed integer 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
  • Explain different aspects of power system security and the difference between security and reliability, and discuss what means could be put in place to make a low-carbon power system more secure and reliable
  • 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 (On Campus - Parkville)
 12.5

AND

Code Name Teaching period Credit Points
ELEN90060 Power System Analysis
Semester 2 (On Campus - 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

DescriptionTimingPercentage

One mid-semester test. Intended Learning Outcomes (ILOs) 1-3 are addressed in this assessment.

  • 1 hours
From Week 6 to Week 710%

Continuous assessment of laboratory workshop outcomes, with two reports, in small groups of 2-4 students, not exceeding 40 pages in total over the semester. 30% per workshop/report. Due in Week 6 and Week 11-12. ILOs 1-5 are addressed in this assessment.

  • 12 hours
During the teaching period60%

One 2-hour written examination. Intended Learning Outcomes (ILOs) 1-5 are addressed in this assessment.

  • 2 hours
Hurdle requirement: The examination must be passed to pass the subject		During the examination period30%

Last updated: 31 January 2024

Dates & times

  • Semester 1
    CoordinatorPierluigi Mancarella
    Mode of deliveryOn Campus (Parkville)
    Contact hoursLectures: 36 hours (3 hours/week) Tutorials/consultation: 12 hours (1 hour/week) Workshops: 12 hours (1 hour/week - total of 6 hours per each of the two workshops/reports)
    Total time commitment200 hours
    Teaching period26 February 2024 to 26 May 2024
    Last self-enrol date 8 March 2024
    Census date 3 April 2024
    Last date to withdraw without fail 3 May 2024
    Assessment period ends21 June 2024

    Semester 1 contact information

    Email:

    Pierluigi Mancarella

    pierluigi.mancarella@unimelb.edu.au

What do these dates mean

Visit this webpage to find out about these key dates, including how they impact on:

  • Your tuition fees, academic transcript and statements.
  • And for Commonwealth Supported students, your:
    - Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).

    Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.

Last updated: 31 January 2024

Further information

  • Texts

    Prescribed texts

    1. Fundamentals of Power System Economics, 2nd Edition; Daniel S. Kirschen, Goran Strbac; Wiley John Wiley & Sons, Ltd
    2. Power Generation, Operation, and Control, 3rd Edition; Allen J. Wood, Bruce F. Wollenberg, Gerald B. Sheblé; Wiley John Wiley & Sons, Ltd
  • Related Handbook entries

    This subject contributes to the following:

    TypeName
    CourseMaster of Energy Systems
    CourseMaster of Engineering
    Specialisation (formal)Electrical with Business
    Specialisation (formal)Low Carbon Power Systems
    Specialisation (formal)Electrical
  • 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.

    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

    This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.

Last updated: 31 January 2024