Course: Economics and Management in Electrical Power Engineering

« Back
Course title Economics and Management in Electrical Power Engineering
Course code KEE/EMEE
Organizational form of instruction Lecture + Tutorial
Level of course Master
Year of study not specified
Semester Summer
Number of ECTS credits 4
Language of instruction Czech, English
Status of course Compulsory
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
Course availability The course is available to visiting students
Lecturer(s)
  • Hejtmánková Pavla, Doc. Ing. Ph.D.
  • Dvorský Emil, Doc. Ing. CSc.
Course content
1. Definition of the course subject, energy and economy concept, load diagram profile, load parameters. Indentation of electricity generation costs, price determination of one produced kWh. 2. Efficient distribution of electricity production and consumption among parallel co-operating power plants (Load diagram coverage economy). 3. Means business (basic and current assets). Optimization of current assets (optimization methods, stock theory). Static stochastic model of current assets. Dynamic deterministic model (single and multipoint) with satisfactory demand and unsatisfied demand. 4. Basic means - BM (division, durability, depreciation). Business costs (identifikation, recalculation of investment costs). BM optimization, cost and return flows, updating of economic parametrs (simple and compound interest, discounting, sales acceleration). 5. Collecting, repaying, discounted revenue. 6., 7. Assessment of the economic efficiency of investments in energy. Costs and return flows, economic indicators, profit dependence on investment funds, economic criteria. 8. Management of power supply and consumption systems - energy management, energy indicators. 9. Determination of exchanged goods quantity on the market - determination of load diagram (type sof load diagrams) 10. Electricity market organization, tariff policy, regulatory energy market. 11. Pricing of electricity, trading with electrical energy, accounting for consumption and supply of electricity. 12. Regulatory energy market, accounting for deviation between negotiated and actual consumption. 13. Consumption energy management (demand side management).

Learning activities and teaching methods
Laboratory work, Lecture
  • Preparation for an examination (30-60) - 30 hours per semester
  • Preparation for an examination (30-60) - 45 hours per semester
  • Graduate study programme term essay (40-50) - 20 hours per semester
  • Graduate study programme term essay (40-50) - 30 hours per semester
  • Preparation for comprehensive test (10-40) - 10 hours per semester
  • Preparation for comprehensive test (10-40) - 20 hours per semester
  • Contact hours - 52 hours per semester
  • Contact hours - 18 hours per semester
prerequisite
Knowledge
to explain the basic electrical power concepts
to describe the principles of energy conversion in thermal power plants, explaine transformation possibilities
to characterize the electricity market (specifics, market participants, division)
Skills
to apply secondary school and university mathematics to the solved problematics
to illustrate and describe the timediagram of loading of the ES
to perform the thermal calculation including the determination of the thermal efficiency of the steam power plant
to draw and evaluate the consumption characteristics of the power plant block
to determine the power losses in the electricity network
Competences
N/A
N/A
N/A
learning outcomes
Knowledge
to explain load diagram (LD) of the electric power system (ES) part
on the basis of concrete LD knowledge to describe load indicators
to compartmentalize and evaluate the costs of electricity generating in the appropriate categories and explain the calculation of the price of 1 produced kWh¨
to clarify the methods that can be used to solve the cost-effective distribution of power output and electric power generation among multiple co-operating power plants, by minimizing total costs or by respecting only the variable cost components, i.e. by using the consumption charakteristics of individual blocks, and understand their principle
to define and divide the resources of the company, to clarify the principle of optimizing the current assets of the company using a static stochastic model and using a dynamic deterministic model with both satisfied and unsatisfied demand (single- and multi-item)
explain the economic criteria used to evaluation of the economic efficiency of investments economic
to explain the energy balance in the electric power system
define the price of electricity based on known cost and income flows
to characterize the price of providing system services
Skills
from scheduled parameters to construct load diagram (LD) of electric power system part
on the basis of concrete LD knowledge determinate (mathematically and graphically) load indicators
to calculate the costs of the electricity production to appropriate categories and the price of one produced kWh
to suggest distribution of electric power output and electricity generation among more power plants on the basis total cost minimisation
economically divide electric power output among more power plants at complying with only variables components of costs, i. e. with consumption characteristics utilization of individual blocks
to perform optimisation of company circulating means by the help of static stochastic model
to perform optimisation of company circulating means by the help of dynamic deterministic model with satisfied and unsatisfied demand (single- and multi - item model)
to evaluate economic investment effectiveness by the help of various criteria
to perform the energy balance of ES
to calculate the price of electricity based on known cost and income flows
make a electricity purchase on its market
to determine the price of providing system services
Competences
N/A
N/A
N/A
teaching methods
Knowledge
Lecture
Practicum
One-to-One tutorial
Skills
Lecture with visual aids
Lecture supplemented with a discussion
Practicum
Task-based study method
Skills demonstration
Individual study
One-to-One tutorial
Discussion
Competences
Lecture
Practicum
assessment methods
Knowledge
Combined exam
Seminar work
Test
Skills
Combined exam
Skills demonstration during practicum
Seminar work
Test
Competences
Combined exam
Recommended literature
  • ČEPS, a.s..
  • Energetický regulační úřad.
  • Operátor trhu s elektřinou, a.s..
  • Callan, Scott J.; Thomas, Janet M. Environmental economics and management : theory, policy, and applications. [1st ed.]. Chicago : Irwin, 1996. ISBN 0-256-13254-2.
  • Drury, C. Management and cost accounting. Chapman and Hall, London. 1991.
  • Dvorský, Emil; Hejtmánková, Pavla. Elektrárny : zvyšování účinnosti přeměn energie v tepelných elektrárnách : příklady. 1. vyd. Plzeň : ZČU, 1999. ISBN 80-7082-523-5.
  • Dvorský, Emil; Hejtmánková, Pavla; Kocmich, Martin. Elektrárny : základy výroby elektrické energie : příklady. 1. vyd. Plzeň : Západočeská univerzita, 1994. ISBN 80-7082-133-7.
  • Eastop T.D., Croft D.R. Energy Efficiency for Engineers and Technologist. ISBN 0-582-03184-2.
  • Ibler, Zbyněk. Energetika v příkladech : technický průvodce energetika. 2. díl. 1. vyd. Praha : BEN - technická literatura, 2003. ISBN 80-7300-097-0.
  • Ibler, Zbyněk; Klíma, Jiří. Ekonomika v energetice. Praha: SNTL, 1986.
  • Ibler, Zbyněk. Technický průvodce energetika. 1. díl. 1. vyd. Praha : BEN - technická literatura, 2002. ISBN 80-7300-026-1.
  • Janíček, František. Model trhu s elektrinou : ekonomické aspekty výroby, prenosu a distribúcie elektriny v Slovenskej republike. 1. vyd. Bratislava Renesans, 2009. ISBN 978-80-89402-10-6.
  • Janíček, František. Model trhu s elektrinou : technické aspekty výroby, prenosu a distribúcie elektriny v Slovenskej republike. 1. vyd. Bratislava Renesans, 2009. ISBN 978-80-89402-11-3.
  • Klíma, Jiří. Ekonomika a řízení elektroenergetiky. Vyd. 1. Praha : SNTL, 1984.
  • Kolektiv autorů. Energetická legislativa v kostce 2. Praha: Done, s.r.o., 2005. ISBN 80-903114-2-3.
  • Kolektiv autorů. Otvírání trhu s elektřinou. Praha: PLEJÁDA, a.s., 2002. ISBN 80-86431-30-4.
  • Kolektiv autorů. Úvod do liberalizované energetiky. 2016. ISBN 978-80-260-9212-4.
  • Vastl, Jaromír; Navrátil, Petr; Povýšil, Roman. Ekonomika a řízení elektroenergetiky : sbírka úloh. 1. vyd. Praha : ČVUT, 1983.


Study plans that include the course
Faculty Study plan (Version) Category of Branch/Specialization Recommended year of study Recommended semester