Power System Operation in Market Environment

Higher education teachers: Pantoš Miloš
Credits: 5
Subject code: 64808

Subject description


  • Enrollment into the program.

Content (Syllabus outline):

Impact of electricity market on power system operation: the role of producers, consumers, transmission and distribution networks and their technical constraints, methods for static analyses, sensitivity analyses, optimal power flow calculation. Ancillary services: load forecasting, reserves, active power and frequency control, reactive power and voltage control, methods for voltage collapse proximity assessment, ancillary service procurement. Power system reliability, security of supply, reliability indices, network adequacy. Deterministic and stochastic concepts in power system operation and energy markets.

Objectives and competences:

Students will obtain an overview of power system operation in market environment. This course presents models of energy markets: physical market, financial markets, bilateral trading, organized markets: auction, intra-day market, continuous market, balancing market, cross-border trading, ancillary service procurement etc. Focus of this course is the impact of energy market on power system operation.

Intended learning outcomes:

Knowledge and understanding:

Students will understand operation of power systems and different energy markets and their impact on power system operation. With gained knowledge, they will be able to solve some basic problems in the field of power system operation and trading with electric energy.


Review and general knowledge of power system operation and electric energy markets.


Understanding of analyses in the frame of reliable operation of power systems and trading with electric energy. Ability to integrate the gained knowledge with the existing in a complex picture.

Transferable skills:

Ability to collaborate in different tasks considering power system operation and trading with electric energy.

Learning and teaching methods:

  • Lectures or seminars,
  • projects,
  • exercises.

Study materials

  1. Gubina F., Delovanje elektroenergetskega sistema, Založba ULFE, 2006
  2. PANTOŠ, Miloš. Exploitation of electric-drive vehicles in electricity markets. IEEE transactions on power systems, ISSN 0885-8950. [Print ed.], May 2012, vol. 27, no. 2, str. 682-694, ilustr., doi: 10.1109/TPWRS.2011.2172005. [COBISS.SI-ID 8909908]
  3. REJC, Matej, PANTOŠ, Miloš. Short-term transmission-loss forecast for the Slovenian transmission power system based on a fuzzy-logic decision approach. IEEE transactions on power systems, ISSN 0885-8950. [Print ed.], Aug. 2011, vol. 26, no. 3, str. 1511-1521, ilustr., doi: 10.1109/TPWRS.2010.2096829. [COBISS.SI-ID 8345684]
  4. ŠMON, Ivan, PANTOŠ, Miloš, GUBINA, Ferdinand. An improved voltage-collapse protection algorithm based on local phasors. Electric power systems research, ISSN 0378-7796. [Print ed.], Mar. 2008, vol. 78, no. 3, str. 434-440, ilustr. [COBISS.SI-ID 6383444]
  5. PANTOŠ, Miloš. Stochastic generation-expansion planning and diversification of energy transmission paths. Electric power systems research, ISSN 0378-7796. [Print ed.], May 2013, vol. 98, str. 1-10, ilustr. http://dx.doi.org/10.1016/j.epsr.2012.12.017, doi: 10.1016/j.epsr.2012.12.017. [COBISS.SI-ID 9634132]
  6. BOŽIČ, Dušan, PANTOŠ, Miloš. Assessment of investment efficiency in a power system under performance-based regulation. Energy, ISSN 0360-5442. [Print ed.], Mar. 2013, vol. 51, no. 1, str. 330-338, ilustr., doi: 10.1016/j.energy.2012.11.038. [COBISS.SI-ID 9600852]
  7. PANTOŠ, Miloš. Market-based congestion management in electric power systems with increased share of natural gas dependent power plants. Energy, ISSN 0360-5442. [Print ed.], Jul. 2011, vol. 36, no. 7, str. 4244-4255, ilustr., doi: 10.1016/j.energy.2011.04.019. [COBISS.SI-ID 8345428]