Introduction

In the rapidly evolving landscape of modern electricity markets, the ability to make rapid, informed decisions regarding energy transactions and grid operations is crucial for profitability and system stability. Real-Time Power Trading involves the buying and selling of electricity as close as possible to the moment of consumption, allowing market participants to adjust their positions based on updated forecasts, unexpected outages, or sudden shifts in demand and supply. This dynamic trading environment is inextricably linked with Real-Time Dispatch, where grid operators make immediate decisions to balance generation and load, manage transmission constraints, and ensure grid reliability, often utilizing the very market mechanisms that facilitate real-time trading. The increasing volatility introduced by intermittent renewable energy sources and evolving demand patterns has amplified the complexity and importance of these functions, requiring sophisticated analytical tools and deep market understanding. Without mastering the intricacies of Real-Time Power Trading and Dispatch, market participants risk significant financial losses, while grid operators face challenges in maintaining a reliable and efficient power system. This comprehensive training course focuses on equipping professionals with the expertise to master Real-Time Power Trading and Dispatch.

This training course is meticulously designed to empower energy traders, power system dispatchers, market analysts, utility personnel, renewable energy developers, and financial professionals with the theoretical understanding and practical skills necessary to effectively participate in and manage Real-Time Power Trading and Dispatch operations. Participants will gain a deep understanding of electricity market structures, explore various trading strategies and risk management techniques, learn about the tools and data used for real-time decision-making, and acquire hands-on experience in analyzing market signals and optimizing resource allocation. The course will delve into topics such as locational marginal pricing (LMP), imbalance settlement, congestion management, the role of ancillary services in real-time markets, forecasting for immediate operational needs, and the impact of evolving grid technologies on trading and dispatch. By mastering the principles and practical application of Real-Time Power Trading and Dispatch, participants will be prepared to enhance profitability, optimize grid operations, mitigate financial and operational risks, and contribute significantly to the efficient functioning of modern electricity markets.

Duration: 5 Days

Target Audience

• Energy Traders and Schedulers
• Power System Operators and Dispatchers
• Market Analysts and Forecasters
• Utility Control Center Personnel
• Renewable Energy Plant Operators and Optimizers
• Grid Operations Engineers
• Financial Analysts in the Energy Sector
• Risk Managers (Energy)
• Energy Consultants
• Anyone involved in real-time electricity market participation

Objectives

• Understand the fundamental structure and dynamics of real-time electricity markets.
• Learn about the roles and interactions of key participants in real-time power trading.
• Acquire skills in interpreting market signals such as Locational Marginal Pricing (LMP).
• Comprehend techniques for optimizing generation and load in real-time dispatch.
• Explore strategies for managing financial and operational risks in real-time trading.
• Understand the importance of accurate short-term forecasting for real-time decisions.
• Gain insights into ancillary services and their role in real-time grid stability.
• Develop a practical understanding of imbalance settlement and congestion management.

Course Content

Module 1: Introduction to Electricity Markets and Real-Time Operations

• Overview of power system structure: generation, transmission, load.
• Evolution of electricity markets: from regulated to deregulated.
• Definition and importance of the real-time electricity market.
• Relationship between real-time trading and grid dispatch.
• Key market participants and their roles.

Module 2: Real-Time Market Structure and Pricing

• Market clearing processes in real-time markets.
• Locational Marginal Pricing (LMP): components (energy, congestion, loss).
• How LMP reflects system constraints and dispatch decisions.
• Understanding nodal vs. zonal pricing.
• Impact of pricing on trading strategies.

Module 3: Short-Term Forecasting for Real-Time Decisions

• Importance of very short-term load forecasting (5-minute, 1-hour ahead).
• Forecasting variable renewable energy (wind, solar) output in real-time.
• Impact of weather, events, and sudden changes on forecasts.
• Tools and techniques for real-time forecasting.
• Managing forecast uncertainty.

Module 4: Real-Time Dispatch and Optimization

• Principles of real-time economic dispatch.
• Unit commitment adjustments in real-time.
• Managing generator ramp rates and operational limits.
• Optimal power flow in real-time.
• Automated systems for real-time dispatch.

Module 5: Ancillary Services in Real-Time Markets

• Types of ancillary services needed for real-time grid reliability (e.g., regulation, reserves).
• How ancillary services are procured and dispatched in real-time.
• The role of energy storage and demand response in providing real-time AS.
• Value proposition of real-time ancillary services.
• Balancing authority responsibilities.

Module 6: Congestion Management and Imbalance Settlement

• Causes of transmission congestion in real-time.
• Methods for congestion management (e.g., re-dispatch, counter-trading, curtailment).
• Understanding imbalance quantities between schedules and actual dispatch.
• Imbalance settlement procedures and charges/payments.
• Financial implications of congestion and imbalances.

Module 7: Trading Strategies and Risk Management

• Real-time trading strategies (e.g., arbitrage, managing portfolio imbalances).
• Risk identification in real-time trading (price volatility, forecast error, operational risks).
• Hedging strategies and financial instruments in real-time markets.
• Credit risk and counterparty risk management.
• Regulatory compliance for trading operations.

Module 8: Tools, Technologies, and Future Trends

• Energy Management Systems (EMS) and Market Management Systems (MMS).
• Real-time data visualization and decision support tools.
• Algorithmic trading and automation in real-time markets.
• Impact of distributed energy resources (DERs) on real-time operations.
• The future of real-time markets: increased dynamism, new participants, AI applications.

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 10 working days before commencement of the training.