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 welcomed 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
16/09/20 Lesson 1 Introduction and basics concepts from economics Damien Ernst
Workshop 0 Workshops Organization TAs
23/09/20 Lesson 2 Introduction and basics concepts from economics
Measures of cost for electrical energy
Damien Ernst
Workshop 1 Energy Markets Overview Thibaut Théate
30/09/20 Lesson 3 Markets for electrical energy Damien Ernst
Workshop 2 Day-ahead market part 1 Adrien Bolland
07/10/20 Lesson 4 Markets for electrical energy
Participating in electricity markets
Damien Ernst
Workshop 3 Day-ahead market part 2 Adrien Bolland
14/10/20 Lesson 5 Participating in electricity markets
System security and ancillary services
Damien Ernst
Workshop 4 Project presentation and programming tools TAs
21/10/20 External Speaker 1 Residential energy supplier
Residential electricity pricing offer
Jonathan Dumas
Workshop 5 Assignment Q&A TAs
28/10/20 Lesson 6 System security and ancillary services
Trading over the electricity network
Damien Ernst
Workshop 6 Assignment Q&A TAs
04/11/20 Toussaint  / /
11/11/20 Armistice  / /
18/11/20 Lesson Cancelled  /
Workshop 8 Assignment Q&A TAs
25/11/20 Lesson 7  Trading over the electricity network Damien Ernst
Workshop 9 Assignment Q&A TAs
02/12/20 Speaker Cancelled  /
Deadline Assignment submission
09/12/20 Workshop 10 Assignment evaluation
16/12/20 No class /  /

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. Deadline to submit the assignment is 02/12/20.


The exam will be organised in sessions, either onsite or online. Each session will be around 2h long and group 3 to 5 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 in the workshops. For those who did the project, 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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