Outline

Overview

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.

Unit details and rules

Academic unit	School of Electrical and Computer Engineering
Credit points	6
Prerequisites ?	None
Corequisites ?	None
Prohibitions ?	None
Assumed knowledge ?	ELEC3203 or ELEC9203 or ELEC5732. The assumed knowledge for learning this UoS is power system steady state analysis
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Jeremy Qiu, jeremy.qiu@sydney.edu.au

Assessment

The census date for this unit availability is 31 August 2026

Details
Criteria

Type	Description	Weight	Due	Length	Use of AI
Written exam	Final exam 2-hour closed-book exam	70%	Formal exam period	2 hours	AI prohibited
Outcomes assessed:
Experimental design	Individual assignment report Assessed as an individual report.	15%	STUVAC Due date: 09 Nov 2026 at 23:59	Written report finished at home.	AI allowed
Outcomes assessed:
Research analysis	Group submission Assessed as a group report.	15%	Week 13 Due date: 02 Nov 2026 at 23:59	Written report	AI allowed
Outcomes assessed:
= group assignment ?

Assessment summary

Group assignment report: 15%.
Individual assignment report: 15% .
Final Exam: 70%. Close book exam covering all taught knowledge through the semester.

Detailed information for each assessment will be announced in Class/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 guide to grades.

Use of generative artificial intelligence (AI)

You can use generative AI tools for open assessments. Restrictions on AI use apply to secure, supervised assessments used to confirm if students have met specific learning outcomes.

Refer to the assessment table above to see if AI is allowed, for assessments in this unit and check Canvas for full instructions on assessment tasks and AI use.

If you use AI, you must always acknowledge it. Misusing AI may lead to a breach of the Academic Integrity Policy.

Visit the Current Students website for more information on AI in assessments, including details on how to acknowledge its use.

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

Academic integrity

The University expects students to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

Our website provides information on academic integrity and the resources available to all students. This includes advice on how to avoid common breaches of academic integrity. Ensure that you have completed the Academic Honesty Education Module (AHEM) which is mandatory for all commencing coursework students

Penalties for serious breaches can significantly impact your studies and your career after graduation. It is important that you speak with your unit coordinator if you need help with completing assessments.

Visit the Current Students website for more information on AI in assessments, including details on how to acknowledge its use.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Support for students

The Support for Students Policy reflects the University’s commitment to supporting students in their academic journey and making the University safe for students. It is important that you read and understand this policy so that you are familiar with the range of support services available to you and understand how to engage with them.

The University uses email as its primary source of communication with students who need support under the Support for Students Policy. Make sure you check your University email regularly and respond to any communications received from the University.

Learning resources and detailed information about weekly assessment and learning activities can be accessed via Canvas. It is essential that you visit your unit of study Canvas site to ensure you are up to date with all of your tasks.

If you are having difficulties completing your studies, or are feeling unsure about your progress, we are here to help. You can access the support services offered by the University at any time:

Support and Services (including health and wellbeing services, financial support and learning support)
Course planning and administration
Meet with an Academic Adviser

Weekly schedule

WK	Topic	Learning activity
Week 01	Fundamentals of Electricity Markets and Power System Planning	Lecture (2 hr)
	Week 1	Self-directed learning (6 hr)
	Tutorial 1	Tutorial (2 hr)
Week 02	Electricity Economics (Part 1)	Lecture (2 hr)
	Week 2	Self-directed learning (6 hr)
	Tutorial 2	Tutorial (2 hr)
Week 03	Electricity Economics (Part II)	Lecture (2 hr)
	Week 3	Self-directed learning (6 hr)
	Tutorial 3	Tutorial (2 hr)
Week 04	Power System Modelling in Electricity Markets	Lecture (2 hr)
	Week 4	Self-directed learning (6 hr)
	Tutorial 4	Tutorial (2 hr)
Week 05	Structure and Operation of the Electricity Market (Part I)	Lecture (2 hr)
	Week 5	Self-directed learning (6 hr)
	Tutorial 5	Tutorial (2 hr)
Week 06	Structure and Operation of the Electricity Market (Part II)	Lecture (2 hr)
	Week 6	Self-directed learning (6 hr)
	Tutorial 6	Tutorial (2 hr)
Week 07	Cost of Capital & Project Evaluation	Lecture (2 hr)
	Week 7	Self-directed learning (6 hr)
	Tutorial 7	Tutorial (2 hr)
Week 08	Power System security and planning (Part I)	Lecture (2 hr)
	Week 8	Self-directed learning (6 hr)
	Tutorial 8	Tutorial (2 hr)
Week 09	Public holiday	Lecture (2 hr)
	Week 9	Self-directed learning (6 hr)
	Public holiday	Tutorial (2 hr)
Week 10	Power System security and planning (Part II)	Lecture (2 hr)
	Week 10	Self-directed learning (6 hr)
	Tutorial 10	Tutorial (2 hr)
Week 11	Transmission Planning Under Electricity Market Regime	Lecture (2 hr)
	Week 11	Self-directed learning (6 hr)
	Tutorial 11	Tutorial (2 hr)
Week 12	Electricity Market under a Future Grid	Lecture (2 hr)
	Week 12	Self-directed learning (6 hr)
	Tutorial 12	Tutorial (2 hr)
Week 13	Review and Feedback	Lecture (2 hr)
	Week 13	Self-directed learning (6 hr)
	Tutorial 13	Tutorial (2 hr)

Attendance and class requirements

Lectures: 26-hour lectures to explain the fundamental concepts of power system planning and markets.
Tutorials: 13 sessions of 2-hour tutorials covering calculation examples using the fundamental concepts explained in the lectures and applying analytical and problem-solving skills.
Independent Study: Study at home. 10 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

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.

Outcomes
Graduate qualities

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 reform
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
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

I will add more tutorials and consultation time to make sure students can well understand the fundamentals and applied knowledge.

Disclaimer

Important: the University of Sydney regularly reviews units of study and reserves the right to change the units of study available annually. To stay up to date on available study options, including unit of study details and availability, refer to the relevant handbook.

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

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI)

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Disclaimer

On this page

Useful links

ELEC5212: Power System Planning and Markets

Semester 2, 2026 [Normal day] - Camperdown/Darlington, Sydney

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI)

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Disclaimer

On this page

Useful links