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503202: Power Sector Economics, Management and Restructuring
Teaching Scheme Examination Scheme
3 Hours / Week Paper : 100 Marks
Unit 1
Power Sector in India
Introduction to various institutions in Indian Power sector such as CEA, Planning
Commissions, PGCIL, PFC, Ministry of Power, state and central governments, REC,
utilities and their roles. Critical issues / challenges before the Indian power sector,
Salient features of Electricity act 2003, Various national policies and guidelines under
this act. [8hrs]
Unit 2
Power sector economics and regulation
Typical cost components and cost structure of the power sector, Different methods of
comparing investment options, Concept of life cycle cost , annual rate of return ,
methods of calculations of Internal Rate of Return(IRR) and Net Present Value(NPV)
of project, Short term and long term marginal costs, Different financing options for the
power sector .
Different stakeholders in the power sector, Role of regulation and evolution of
regulatory commission in India, types and methods of economic regulation, regulatory
process in India. [8hrs]
Unit 3
Power Tariff
Different tariff principles (marginal cost, cost to serve, average cost),
Consumer tariff structures and considerations, different consumer categories,
telescopic tariff, fixed and variable charges, time of day, interruptible tariff, different
tariff based penalties and incentives etc., Subsidy and cross subsidy, life line tariff,
Comparison of different tariff structures for different load patterns. Government
policies in force from time to time. Effect of renewable energy and captive power
generation on tariff. Determination of tariff for renewable energy.
[6hrs]
Unit 4
Power sector restructuring and market reform
Different industry structures and ownership and management models for generation,
transmission and distribution. Competition in the electricity sector- conditions, barriers,
different types, benefits and challenges Latest reforms and amendments.
Different market and trading models / arrangements, open access, key market
entities- ISO, Genco, Transco, Disco, Retailco, Power market types, Energy market,
Ancillary service market, transmission market, Forward and real time markets, market
power.
[8hrs]
Unit 5
Electricity Markets Pricing and Non-price issues
Electricity price basics, Market Clearing price (MCP), Zonal and locational MCPs.
Dynamic, spot pricing and real time pricing, Dispatch based pricing, Power flows and
prices. Optimal power flow Spot prices for real and reactive power. Unconstrained real
spot prices, constrains and real spot prices.
Non price issues in electricity restructuring (quality of supply and service, standards of
performance by utility, environmental and social considerations)
Global experience with electricity reforms in different countries.
[9hrs]
Unit 6
Transmission Planning and pricing
Transmission planning, Different methods of transmission pricing, Different
transmission services, Congestion issues and management, Transmission cost
allocation methods, Locational marginal price, firm transmission right.
Transmission ownership and control, Transco and ISO, Transmission pricing Model in
India, Availability based tariff, role of load dispatch centers (LDCs) Salient features of
Electricity act 2003, Price based Unit commitment, concept of arbitrage in Electricity
markets, game theory methods in Power System, security constrained unit
commitment. Ancillary services for restructuring, Forward ancillary service auction.
Power purchase agreements [9hrs]
References:
Text Books:
1. “Know Your Power”, A citizens Primer On the Electricity Sector, Prayas Energy Group,
Pune
2. Sally Hunt, “Making Competition Work in Electricity”, 2002, John Wiley Inc
3. Electric Utility Planning and Regulation, Edward Kahn, American Council for
Energy Efficient Economy
References:
1. Regulation in infrastructure Services: Progress and the way forward - TERI, 2001
2. Maharashtra Electricity Regulatory Commission Regulations and Orders -
www.mercindia.com
3. Various publications, reports and presentations by Prayas, Energy Group, Pune
www.prayaspune.org
4. Central Electricity Regulatory Commission, Regulations and Orders - www.cercind.org
5. Electricity Act 2003 and National Policies – www.powermin.nic.in
6. Market Operations in Electric Power Systems Forecasting, Scheduling and Risk
Management –Mohammad Shadepur, Hatim Yatim, Zuyi Li.
7. Bhanu Bhushan, “ABC of ABT - A primer on Availability Tariff” - www.cercind.org
Website:
1. www.mercindia.com
2. www.cercind.org
3. www.prayaspune.org
For more details, visit http://www.unipune.ernet.in/stud_info/Syllabi/Syllabus_2008.html
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