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Electric Industry Operations and Markets

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HomePhysical Science and EngineeringEnvironmental Science and Sustainability

Electric Industry Operations and Markets

Duke University

About this course: This is a two week course. In the first week you will learn about the core activities that the Industry executes to bring electricity to customers. We will review what electricity is, how it is generated, how it is transmitted, how it comes into buildings, and how consumption of electricity instantly feeds back on the transmission and generation of electricity. You will learn to: Define what electricity is; Describe how electricity is generated, transmitted and distributed; Describe how electricity is generated, transmitted and distributed; and Summarize how the consumption of electric energy instantly feeds back on the transmission and generation of electricity. In the second week, the course shifts to the markets that drive Electric Industry operations. You will learn about the various costs of the electric industry’s core activities, how electricity is priced, the various ways that electric markets are structured, how these market structures determine which power plants are dispatched to produce electricity when, and how recent changes in generator fuel prices, generation technology, market regulations, and environmental regulations are transforming both Electric Industry Markets and Operations. You will learn to: Describe the main cost components to the electric system; Compare the costs of different types of power plants; Interpret the retail pricing of electricity; Explain the different types of electric markets and understand how they operate to dispatch electric supply to meet demand in real time; and Explain why and how the electric industry is regulated.

Who is this class for: This course is for anyone with an interest in the electric industry. There are no prerequisites for the course.


Created by:  Duke University
Duke University

  • Lincoln Pratson

    Taught by:  Lincoln Pratson, Gendell Professor of Energy & Environment

    Nicholas School of the Environment
LevelBeginner
Commitment3-4 hours per week
Language
English
How To PassPass all graded assignments to complete the course.
User Ratings
4.7 stars
Average User Rating 4.7See what learners said
Syllabus
WEEK 1
Electric Industry Operations
In the operations module, you will learn about the core activities that the Industry executes to bring electricity to customers. We will review what electricity is, how it is generated, how it is transmitted, how it comes into buildings, and how consumption of electricity instantly feeds back on the transmission and generation of electricity.
15 videos
  1. Video: Course Introduction
  2. Video: Electric Industry Overview
  3. Video: What Electricity Is
  4. Video: Charge, Current, Voltage, and Resistance
  5. Video: Electric Power, Electric Energy, and Ohm's Law
  6. Video: A Circuit Model of the Electric System
  7. Video: Electromagnetism
  8. Video: Power Plants
  9. Video: Capacity Factor
  10. Video: How a Transformer Works
  11. Video: Transmitting and Distributing Electricity
  12. Video: Power Line Loss
  13. Video: Electric System Basics in Buildings
  14. Video: Lamp to Plant
  15. Video: Daily and Seasonal Variations in Electric Load
Graded: Industry Overview
Graded: Generation
Graded: Transmission & Distribution
Graded: Load
WEEK 2
Electricity Industry Markets
In this second module, the course shifts to the markets that drive Electric Industry operations. You will learn about the various costs of the electric industry’s core activities, how electricity is priced, the various ways that electric markets are structured, how these market structures determine which power plants are dispatched to produce electricity when, and how recent changes in generator fuel prices, generation technology, market regulations, and environmental regulations are transforming both Electric Industry Markets and Operations.
16 videos
  1. Video: Managing Supply to Meet Demand
  2. Video: The Need for Different Power Plants
  3. Video: Levelized Cost of Electricity
  4. Video: Retail Pricing of Electricity
  5. Video: The Need for Regulation
  6. Video: Who Regulates What
  7. Video: Major Federal Regulations
  8. Video: Existing Electric Market Structures
  9. Video: Ideal Economic Dispatch
  10. Video: Generator Selling Price
  11. Video: Actual Economic Dispatch
  12. Video: Relationship Between Wholesale and Retail Prices
  13. Video: Impact of Fuel Prices
  14. Video: Impact of Government Regulations
  15. Video: Impact of Government Incentivies
  16. Video: Growth in Renewable Electricity Generation
Graded: System Management
Graded: Regulation
Graded: Markets
Graded: External Market Forces
Graded: Electric Industry Operations and Market Assignment

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Duke University
Duke University has about 13,000 undergraduate and graduate students and a world-class faculty helping to expand the frontiers of knowledge. The university has a strong commitment to applying knowledge in service to society, both near its North Carolina campus and around the world.
Ratings and Reviews
Rated 4.7 out of 5 of 94 ratings

AG

Very good overview of the industry, and as someone working in an ESCO, still managed to fill in some gaps in my knowledge. Highly recommended!

Chung-Han Yang

Excellent and concise! Highly recommended to everyone who is interested in the electricity power sector.

Tony Moore

Outstanding class!

Asad Mujeeb

This course is very helpful for me and for all those who study electric industry operations and markets. The professor explained it very well and its a one of the best course i have taken



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