Introduction to the Power Industry (ON-DEMAND) - PI
Course Summary
Introduction to the Power Industry is an online training course, where you’ll learn what electricity is, how it is generated, and how it is moved to the outlet in your home. We’ll review the history of the science of electricity and the development of the electric power industry. We will also examine the deregulation or liberalization of electricity markets and the role of different participants in a liberalized market. You’ll be introduced to some basic principles of electricity market design, and we’ll explore the range of different trading activities and the factors that affect prices in these markets.
Here you will learn what electricity is and how it is both generated and moved to the outlet in your home or office. We will also look at the basic principles of how liberalized electricity markets are designed, survey the key players in such markets, and examine what impacts the electricity price.
Course Content
You will learn to:
- Distinguish between the physical basis of electricity generation and transmission
- Identify some key figures and events in the development of the electric power industry
- Identify the main types of generation plant and their characteristics
- Distinguish between the main components of a conventional thermal power plant and understand their roles
- Recognize the principles and aims of electricity market liberalization
- Select the major types of participant in the markets and their roles
- Identify the basic principles of electricity market design and be aware of the range of different models in use
- Distinguish the main types of trading activity and traded instruments in electricity markets
Practice exercises and self-assessment quizzes are included to help reinforce key topics introduced throughout the course.
A comprehensive final test will be given at the end of the course.
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