Energy Market, Trading & Risk Management 1
Niveau
Introductory & advanced
Learning outcomes of the courses/module
The participants:
• analyze the fundamental structures of energy-economic systems as well as their interactions between generation, trading and regulation.
• evaluate market mechanisms in the context of European energy markets with regard to efficiency, risks and sustainability.
• examine the key roles of market participants and derive the effects of their actions on market prices and system stability.
• compare risk types in energy trading and develop simple, methodologically sound risk analyzes.
• reflect on the uncertainties of energy markets and formulate initial strategic conclusions for energy & sustainability management.
• analyze the fundamental structures of energy-economic systems as well as their interactions between generation, trading and regulation.
• evaluate market mechanisms in the context of European energy markets with regard to efficiency, risks and sustainability.
• examine the key roles of market participants and derive the effects of their actions on market prices and system stability.
• compare risk types in energy trading and develop simple, methodologically sound risk analyzes.
• reflect on the uncertainties of energy markets and formulate initial strategic conclusions for energy & sustainability management.
Prerequisites for the course
none
Course content
- Fundamentals of energy economics and the specific characteristics of energy commodities
- Market structures and price-formation mechanisms in European energy markets
- Roles of market participants in energy trading and the regulatory framework
- Price, volume and credit risks in energy trading
- Basic concepts of hedging and strategic procurement decisions
- Interactions between the energy transition, carbon pricing and market design
- Impact of volatile markets on risk profiles and strategic management decisions
- Market structures and price-formation mechanisms in European energy markets
- Roles of market participants in energy trading and the regulatory framework
- Price, volume and credit risks in energy trading
- Basic concepts of hedging and strategic procurement decisions
- Interactions between the energy transition, carbon pricing and market design
- Impact of volatile markets on risk profiles and strategic management decisions
Recommended specialist literature
- Schwintowski, H.-P. (2018). Handbuch Energiehandel (4. Aufl.). Erich Schmidt Verlag.
- Ströbele, W., Pfaffenberger, W., & Heuterkes, M. (2012). Energiewirtschaft: Einführung in Theorie und Politik. Oldenbourg Wissenschaftsverlag.
- Zenke, I., & Schäfer, R. (2017). Energiehandel in Europa: Öl, Gas, Strom, Derivate, Zertifikate (4. Aufl.).
- Ströbele, W., Pfaffenberger, W., & Heuterkes, M. (2012). Energiewirtschaft: Einführung in Theorie und Politik. Oldenbourg Wissenschaftsverlag.
- Zenke, I., & Schäfer, R. (2017). Energiehandel in Europa: Öl, Gas, Strom, Derivate, Zertifikate (4. Aufl.).
Assessment methods and criteria
Portfolio assessment
Language
English
Number of ECTS credits awarded
5
Semester hours per week
Planned teaching and learning method
Lectures, discussions, exercises, case studies, group work
Semester/trimester in which the course/module is offered
1