The Economics of LMP
The Economics of LMP, an eight-hour one-day optional high-level course, describes the basic principles of locational marginal prices (LMP).
This course incudes:
- Examples of calculating LMPs in simple networks given generator offers and demand.
- Offer-based economic dispatch, hedging energy price risks with financial bilateral contracts and how those bilateral contracts fit into an offer-based economic dispatch will also be covered.
This course is led by the highly regarded Ross Baldick Ph. D., professor of Electrical and Computer Engineering at the University of Texas at Austin.
This course is not currently open for registration.
Prerequisites: ERCOT Nodal 101
Note: Attendees are required to take the above prerequisite course. The Economics of LMP course will be taught assuming that the student possesses a thorough understanding of the information covered in the prerequisite courses listed above prior to attending.
Class time is as follows:
8 a.m. - 5 p.m.
This optional high level course is designed to provide the basic principles of Locational Marginal Pricing for utility and energy company executives, directors, managers, schedulers, coordinators, dispatchers, controllers, traders, planning engineers, operations engineers, EMS-AGC engineers, engineering technicians, IT support staff, accountants, and others.
Access Readiness criteria for more in-depth information on target attendees and class hours.
This course is not currently open for registration.
Prerequisites: ERCOT Nodal 101
Note: Attendees are required to take the above prerequisite course. The Economics of LMP course will be taught assuming that the student possesses a thorough understanding of the information covered in the prerequisite courses listed above prior to attending.
Class time is as follows:
8 a.m. - 5 p.m.
Please check back frequently for updated course schedules.
NERC Continuing Education (CE) hour credit is not available for this course. If continuing education credit is desired for another purpose, the individual attendee may submit the required documentation to the appropriate entity to gain approval for the hours. If additional documentation is needed for the application process, a request for the information may be submitted by emailing Ross.Baldick@engr.utexas.edu.
Download Texas Nodal Program training class materials and presentations. As new classes are offered, key materials will be posted here.
Course materials for instructor-led courses will be provided in hardcopy the day of the class
