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 Dubois and Adrien Bolland.

Course Online

Most lessons and workshops will be recorded and accessible via this link.

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 am. 
Date Activity Topic(s) Speaker
15/09/21 Lesson Introduction and basics concepts from economics Damien Ernst
22/09/21 Lesson Energy Markets Overview Thibaut Théate
29/09/21 Lesson Day-ahead market part 1 Adrien Bolland
06/10/21 Lesson
Day-ahead market part 2
Exercises 1 (solution)
Adrien Bolland
Antoine Dubois
13/10/21 Lesson
Measures of cost for electrical energy
Participating in electricity markets
Damien Ernst
20/10/21 External Speaker
(this class starts at 9:00am)
Residential energy supplier (Video)
Residential electricity pricing offer (Video)
Jonathan Dumas
27/10/21 Lesson
Homework Presentation
System security and ancillary services
Exercises 2 (solution)
Homework statement
Damien Ernst
Antoine Dubois
03/11/21 Toussaint / /
10/11/21 Lesson
Exercises and Homework Q&A
Trading over the electricity network
Exercises 3 (solution) and Homework Q&A
Damien Ernst
Antoine Dubois
17/11/21 Exercises and Homework Q&A Exercises 4 (solution) and Homework Q&A Antoine Dubois
24/11/21 Homework Q&A Homework Q&A Adrien Bolland
01/12/21 Homework Q&A (9:30 am to 11:30 am) at R.137 Homework Q&A TAs
08/12/21 Homework submission Homework submission (deadline at 23:59) TAs
15/12/21 Homework and Exercises evaluation Homework and 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 that are 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 08/12/21 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 15/12/21 (different for each member). The schedule can be found here.

Exercises evaluation

The exercises evaluation, organised on 15/12/21 at 8:30 in R21, is mandatory 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, either onsite or online. Each session will be around 2h long and group 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 some time to write down an answer to the question.
  • Once the student is finished answering or when the assessor considers he/she 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 both the theoretical courses given by Pr. Damien Ernst and the content presented by the TAs. Questions might be asked on the project.

The exam schedule is provided here. Please be present (be it physically or virtually) at least 10 minutes before the start of your session.

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