This course explores the planning, operation, and regulation of power markets, focusing on how electricity is traded, priced, and dispatched. Additionally, the course covers the fundamentals of carbon markets, including the mechanisms behind carbon pricing, carbon credits, and emissions trading schemes. The course emphasizes mechanisms for carbon permit allocation, emission rights pricing, and integration with energy markets, and emphasizes strategies for leveraging green investments and carbon asset management. By the end of the course, students will gain comprehensive understanding of the economics behind power systems, the integration of renewable energy, and the functioning of carbon markets in for carbon neutrality goals.

CILO-1: Understand the basic concept of power systems economics, market structures, economic principles in power generation, transmission, and distribution, role of utilities, and electricity pricing mechanisms to design bidding strategies for participating in electricity market. CILO-2: Apply energy market models (e.g., competitive markets, monopolistic structures) to design the market structure, the operation rules (e.g., day-ahead and real-time markets), and the market clearing mechanisms. CILO-3: Analyze the electricity trading and financial markets, the price volatility and risk management for renewable energy integration in power systems, the impact of renewable energy sources (solar, wind, hydro) on power markets, the energy storage systems and demand response programs to design carbon markets and carbon pricing mechanisms.