Economics for Wholesale Electricity Markets
RAP’s Ranjit Bharvirkar, William Shobe from the University of Virginia, and Dallas Burtraw from Resources for the Future recently delivered four workshops on the Economics for Wholesale Electricity Markets in India. Power Systems Operation Corporation of India (POSOCO) hosted the workshops at their national and regional despatch centres:
- National Load Despatch Centre: Delhi (10-12 October 2017)
- Northern Regional Load Despatch Centre: Delhi (18-20 April 2018)
- Southern Regional Load Despatch Centre: Bengaluru (25-27 April 2018)
- Western Regional Load Despatch Centre: Mumbai (2-4 May 2018)
The three-day workshops provide power sector professionals with an understanding of the theory and application of economic-engineering concepts underlying competitive electricity markets. The workshops also included player-driven simulation models based on the principles of experimental economics and designed to simulate interactions between wires companies and generators. Student participants play different roles, under different policy rules, to learn both how the system currently operates and how it might operate in the future.
Visit our Markets Learning Hub to view videos of the curriculum and play the markets simulation.