Skip to main content

We are aiming for an incremental return to campus in accordance with guidelines provided by NSW Health and the Australian Government. Until this time, learning activities and assessments will be planned and scheduled for online delivery where possible, and unit-specific details about face-to-face teaching will be provided on Canvas as the opportunities for face-to-face learning become clear.

Unit of study_

ELEC5212: Power System Planning and Markets

Deregulation of the electricity industry has fundamentally changed the power systems operation paradigm. The focus has shifted from central planning of vertically integrated utilities to market driven operation. Traditional electric energy producers and consumers play new roles in a power market environment and their behaviors are affected by the economic incentives to a large extent. Nevertheless, electric energy is a special commodity and cannot be traded as the other common goods. So a power market design has many special considerations compared with a conventional commercial market design. Knowledge of the power market mechanisms has become a necessary part in fully understanding the whole power system operations. To equip students with necessary skills to address the challenges of modern power systems, the unit will cover the following topics: -Overview of the traditional electricity industry structure and operation: Economic dispatch, Power system operation states and respective reliability requirements. -Drivers for the restructuring of the electricity industry. -Electricity market design: Market structures (spot, bilateral, hybrid); Energy market; Ancillary services market; Key components in an electricity market. -Electricity market participants and their roles in a market. -Electricity economics: Power market from suppliers' view (Supply curve) and from demands' view (Demand curve); Market mechanism; Price and its elasticity; Cost and supply; Market power and monopoly. -Cost of capital: Time value of money; Project evaluation methods from investments' point of view; Risk and return. -Operation mechanisms of various designs of power markets. -Power market practices around the world. -Power system expansion planning: Fundamental knowledge of power system planning considerations, procedures and methods; Transmission planning; Generation planning; Power system adequacy assessment. ELEC5212 is a specialist Unit for MPE (Power) and ME (Electrical and Power). It is also available as a recommended elective for BE Electrical (Power). This unit focuses on the power market principles and practices. Based on the knowledge of the power market operation, the power system planning procedures and methods will also be discussed.

Details

Academic unit Electrical and Information Engineering
Unit code ELEC5212
Unit name Power System Planning and Markets
Session, year
? 
Semester 2, 2020
Attendance mode Normal day
Location Camperdown/Darlington, Sydney
Credit points 6

Enrolment rules

Prohibitions
? 
None
Prerequisites
? 
ELEC3203 or ELEC9203 OR ELEC5732
Corequisites
? 
None
Assumed knowledge
? 

The assumed knowledge for learning this UoS is power system steady state analysis

Available to study abroad and exchange students

No

Teaching staff and contact details

Coordinator Jin Ma, j.ma@sydney.edu.au
Type Description Weight Due Length
Assignment group assignment Lab 1
complete the lab and the report. The report will be marked.
15% -
Due date: 23 Oct 2020
Scheduled on week 7 and week 8.
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9 LO10 LO11 LO12 LO13
Assignment group assignment Lab 2
Complete the lab and submit the report
15% -
Due date: 06 Nov 2020
Scheduled on week 9 and week 10
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9 LO10 LO11 LO12 LO13
Assignment group assignment Lab 3
Complete the lab and submit the report
15% -
Due date: 20 Nov 2020
Scheduled on week 11 and week 12
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9 LO10 LO11 LO12 LO13
Final exam (Open book) Type C final exam Final exam
2hour open book exam; time for uploading solutions should be considered.
55% Formal exam period 2 hours
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9
group assignment = group assignment ?
Type C final exam = Type C final exam ?
  • Lab 1: Market modeling and design for an interconnected two-area system with detailed scenario analysis.
  • Lab 2: Market modeling and design for a three-area system with detailed scenario analysis.
  • Lab 3: Market modeling for more practical and complex situations with detailed scenario analysis.
  • Final Exam: Open-book exam covering all taught knowledge through the semester.

Detailed information for each assessment will be announced on Canvas at appropriate time.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range

ReDescription

High distinction

85 - 100

Regarding to the lab report: the whole report offers detailed, very convincing analysis with top readability. The authors reveal insights on the relevant topics through a thorough and comprehensive discussions on the knowledge applied to solve the problems. 

Distinction

75 - 84

Regarding to the lab report: The report is well written. The lab report is self-contained with all the information to support the analysis. The report shows the authors’ high level understandings on the power market operation and relvent planning concept. 

Credit

65 - 74

Regarding to lab report: All questions are replied correctly in the report and the analysis procedure is well explained in the report

Pass

50 - 64

Regarding to lab report: Complete the lab and addressed most questions correctly in the lab report 

Fail

0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see sydney.edu.au/students/guide-to-grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

10% of the mark per day

Special consideration

If you experience short-term circumstances beyond your control, such as illness, injury or misadventure or if you have essential commitments which impact your preparation or performance in an assessment, you may be eligible for special consideration or special arrangements.

Academic integrity

The Current Student website provides information on academic honesty, academic dishonesty, and the resources available to all students.

The University expects students and staff to act ethically and honestly and will treat all allegations of academic dishonesty or plagiarism seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic dishonesty. If such matches indicate evidence of plagiarism or other forms of dishonesty, your teacher is required to report your work for further investigation.

WK Topic Learning activity Learning outcomes
Week 01 1. General introduction to this unit of study and to power market practices; 2. History review on power industry deregulation and restructuring worldwide, power market models, and types Lecture (2 hr) LO1 LO2 LO4 LO5 LO10
Week 02 1. Components of power markets and their roles; 2. Market mechanisms; 3. Computing tools for power market and planning analysis Lecture (2 hr) LO1 LO4 LO5 LO7 LO8
Practice computing tools for power system planning and power market analysis Tutorial (1 hr) LO7 LO8
Week 03 Power system security -- Consideration and analysis methods for power system planning and markets Lecture (2 hr) LO5 LO7 LO8
practice power system security analysis methods Tutorial (1 hr) LO7 LO8
Week 04 1. Economic cost; Supply curve and demand curve, market price determination, and its elasticity; 2. Profit analysis and social surplus Lecture (2 hr) LO3 LO4
Exercises centered on engineering economics Tutorial (1 hr) LO3 LO4
Week 05 Economic efficiency and losses, market power, and monopoly. Power market design Lecture (2 hr) LO1 LO2 LO3 LO4 LO5
Exercises on power market operation mechanisms Tutorial (1 hr) LO1 LO3 LO4 LO5
Week 06 Power market design, components, and its operational mechanism; Cost analysis and investment Lecture (2 hr) LO6 LO9
Exercises on power market analysis Tutorial (1 hr) LO3 LO4 LO5 LO6
Week 07 Generation expansion, project evaluation, two area power market design and operation analysis Lecture and tutorial (3 hr) LO3 LO4 LO5 LO6 LO7 LO8 LO9 LO10 LO11 LO12 LO13
Week 08 Two-area power market case studies Lecture and tutorial (3 hr) LO7 LO8 LO10 LO11 LO12 LO13
Week 09 Economic dispatch and planning principles Lecture and tutorial (3 hr) LO5 LO7 LO8 LO10 LO11 LO12 LO13
Week 10 Three-area power system market and planning studies Lecture and tutorial (3 hr) LO5 LO7 LO8 LO10 LO11 LO12 LO13
Week 11 Impacts of complex transmission network on power market operation Lecture and tutorial (3 hr) LO5 LO7 LO8 LO10 LO11 LO12 LO13
Week 12 Nodal price, congestion managements and case studies. Lecture and tutorial (3 hr) LO5 LO8 LO10 LO11 LO12 LO13

Attendance and class requirements

  • Lectures: 6 2-hour lectures to explain the fundamental concepts of power system planning and markets.
  • Tutorials: 5 sessions of 1-hour tutorials covering calculation examples using the fundamental concepts explained in the lectures and applying analytical and problem solving skills.
  • Integrated lecture and laboratory sesssions: 6 sessions of 3-hour integrated lecture and laboratory on market design. The lectures and laboratories will focus on power market modeling and design for different system configurations and various scenario analysis using appropriate mathematical tools.
  • Independent Study: Study at home. 3 hours per week recommended.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University’s graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. understand the characteristics of traditional electricity industry structure, and the power market structure
  • LO2. understand the driving forces towards the power market
  • LO3. understand fundamentals of engineering economics
  • LO4. understand power market design, including market types, market structure, market model, and its components
  • LO5. understand power system operation in a deregulated environment
  • LO6. understand the principles of investment, knowledge of risk and return, and their applications on power system expansion planning
  • LO7. understand power system planning principles, considerations, procedures, and methods
  • LO8. model and analyse power market behaviours using appropriate mathematical tools
  • LO9. apply probability theory and simulation methods to analyse the risk and return for decision making
  • LO10. investigate inquiries and develop knowledge by drawing on a vast source of professional documents in various formats, and synthesise the information to solve a specific engineering problem
  • LO11. present concise information accurately using varied formats and media to a level appropriate to the expected understanding from this unit of study
  • LO12. write reports to communicate complex project specific information concisely and accurately, and to the degree of specificity required by the engineering project at hand
  • LO13. work in a team by assuming diverse roles, aiding, or initiating the process of team interaction, and drawing on, and being receptive to others' viewpoints, to try and solve a specific engineering task.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9
The whole course is completely redesigned to increase the in-class discussions to better engage the students.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.