ECE 51200 - Modern Electricity Markets In Smart Grids

Prerequisite(s): ECE 20200 FOR LEVEL UG WITH MIN. GRADE OF C-

Credit Hours: 3.00. This course will introduce the fundamental concepts and formulations associated with restructured electricity markets integrated into smart grids. This course will familiarize students with the following concepts: 1) Transition from Convectional Power Systems to Modern Power Systems, 2) Analysis of Pricing Methods in Restructured Electricity Markets, 3) Analysis of the U.S. Electricity Markets, 4) Energy Trading in Restructured Electricity Markets, 5) Risk Management in Smart Grids Operation, 6) Market Power Analysis Based on Game Theory, and 7) Analysis of Self-healing Smart Grids. Furthermore, group projects will be assigned to students in different groups to review the existing literature in the covered areas and present the knowledge gaps and potential strategies to fill such research gaps, which can be very helpful in identifying the line of their future research.

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