Welcome to the Energy Markets class! 
General information about this class can be found on the ULiège website. 
People from the private or the public sector are welcome to attend it. Registration is free. 
The teaching assistants for the class are Thibaut ThéateAntoine DuboisAdrien Bolland and Victor Dachet.

Lessons schedule

This class will be given during the first semester on Wednesday morning in Room R21 of the Montefiore Institute (B28). 
Each lesson will start at 8:30 a.m.
Date Activity Topic(s) Speaker
14/09/22 Class starts on the 21/09 / /
21/09/22 Lesson Presentation of the class
Overview of markets
Damien Ernst
Thibaut Théate
28/09/22 Lesson From monopolies to markets Damien Ernst
05/10/22 Lesson Electricity Markets in Practice
Day-Ahead Market
Adrien Bolland
12/10/22 Lesson
Day-Ahead Market with transmission
Exercises 1 (solutions)
Adrien Bolland
19/10/22 Lesson Network security 
Exercises 2
Damien Ernst
26/10/22 Lesson
Exercises & Homework Presentation
Impact of transmission
Exercises 3 (solutions) & Homework statement
Antoine Dubois
02/11/22 Toussaint / /
09/11/22 Homework Q&A Homework Q&A TAs
16/11/22 Lesson
Carbon Markets
Exercises 4 (solutions)
Victor Dachet
23/11/22 Homework Q&A (starting at 10am) Homework Q&A TAs
30/11/22 Homework Q&A (starting at 10am) Homework Q&A TAs
07/12/22 Homework submission Homework submission (deadline at 23:59) TAs
14/12/22 Homework evaluation Homework evaluation  TAs
21/12/22 Exercises evaluation (more info below) Exercises evaluation  TAs

Talks from previous years

Suggested supplementary readings

To further your understanding of the concepts presented in each lesson, a list of suggested articles is provided. Each of those is accompanied by a series of questions to help you identify the most important aspects discussed.


Note: (i) some of the linked material may only be available from within the ULiege network. Connect to ULiege’s VPN for remote access (ii) the research papers need to be studied for the assignment date.


The statement of the assignment is available here. The deadline to submit the assignment is 07/12/22 at 23:59. Check the statement for the submission details.
Part of the mark for the project will come from the evaluation of the report (same for all members of one group), and the rest of the mark will come from an oral discussion with the teaching assistants on 14/12/22 (different for each member). The schedule can be found here. The discussion will be organised in R21/B28 (the usual classroom). Please be present at least 15 minutes before the start of your timeslot.

Exercises evaluation

The exercises evaluation, organised on 21/12/22 at 14:00 (until 16:00) in R21, is mandatory for all HELMO students and will cover the content of exercises sessions 1 (questions 2 to 4) and 2 (questions 1 to 3).


The exam will be organised in sessions. Each session will be around 1h30 long and by groups of 4 to 6 students.

Each session will be organized in the following way.

  • One of the assessors – Pr. Damien Ernst or an assistant – will give each student a question to answer.
  • The student will then have time to write down an answer to the question on the blackboard.
  • Once the student is finished answering or when the assessor considers he/she has had enough time to answer, the student and the assessor will have a discussion over the question and topics related to this question.
  • This process will be repeated for one or two more questions.

Questions will cover the theoretical courses and exercises. Questions about the project might be asked (for ULiège and Erasmus students).

The exam schedule is provided here (for ULiège students) and here (for HELMO students). Please be present at least 10 minutes before the start of your session.

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