ERRA Training Course: Principles of Electricity Markets


Course Objectives:

Liberalisation of the electricity sector has been a very important development worldwide in the past two decades, and is still an ongoing process in many transition countries.

This course aims to provide a thorough introduction to the most important economic issues surrounding the creation and successful operation of electricity markets.

Topics discussed during the first half of the week include an explanation of relevant economic concepts, the characterisation of competitive and oligopolistic markets, the dangers of market power abuse and the effect of the presence of essential facilities on market operation.

Within this general market framework, the second half of the course will cover the special issues regarding the demand and supply of electricity, the design of various market structures and the role of the electricity network in a competitive environment.


Main themes of the Training Course:

  • Economics of competitive markets
  • Demand for and supply of electricity: major characteristics
  • Wholesale markets for electricity: design and operation
  • Supply characteristics of electricity networks and network issues in electricity markets
  • Economics of market power and antitrust in electricity markets


Course Faculty Team:

  • László SZABÓ – Course Director; Senior Research Associate, Regional Center for Energy Policy Research (REKK), Hungary
  • Zsolt BERTALAN – HUPX Ltd., Hungary
  • Ibrahim ETEM ERTEN – Head of the Organized Wholesale Electricity Market Group, EMRA, Turkey
  • Péter KADERJÁK – Director, Regional Centre for Energy Policy Research (REKK), Hungary
  • Lajos KEREKES – Research Associate, REKK, Hungary
  • Csaba KISS – Alstom Power, Hungary
  • Diana KORSAKAITE – former Chair of National Commission for Energy Control and Prices (NCC), Lithuania
  • Péter KOTEK – Senior Research Associate, REKK, Hungary
  • Leonardo MEEUS – Associate Professor & Director, Vlerick Energy Centre, Belgium
  • Slobodan MARKOVIC – Head of Team for Consulting and Power Quality, Ekc Ltd., Serbia
  • Adrienn SELEI – Research Associate, REKK, Hungary


The Course was attended by 27 participants from the following countries: Estonia, Georgia, Greece, Hungary, Latvia, Macedonia, Mongolia, Nigeria, Oman, Romania, Saudi Arabia, Sri Lanka, Turkey, United Kingdom, Vanuatu.


During the Training Course ERRA presented a real-time webcast which featured Ms. Diana Korsakaite’s presentation on Market Power in Electricity Generation and Transmission on November 27, 21015. The video is available here: