TEK5350 – Energy Markets and Regulation

Schedule, syllabus and examination date

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Course content

The energy system is undergoing a fundamental change from being centralised and carbon intensive to decentralised and low carbon so as to achieve the goals according to the Paris Agreement of limiting global mean surface temperature rise to well below 2 °C.
The course provides students with the basics of energy markets, both physical and financial, starting with the classical markets like day-ahead electricity market and then continues to the markets specific for renewable energy resources. It will give the students an understanding of the economics of different renewable energy sources with a focus on hydro, wind and solar, different options to integrate renewable energy into the energy market, types of policy instruments, regulation and institutional frameworks on a national and international level. Further, the course will put energy markets in the context of the economics of climate change and global governance. In order to understand reports and scientific papers it is necessary to understand different methods and models to analyze questions on the energy market which the course will introduce.

Learning outcome

After this course the student will be able to:

  • Understand the functioning of energy markets and power exchange.
  • Understand different energy market and policy designs and analyse in which environment these would be appropriate.
  • Understand the role of different actors in the energy market.
  • Analyse the effects of renewables on the energy market.
  • Understand the appropriate use of different methods and models to analyse questions on the energy market.
  • Read and analyse state of the art academic literature in the field of energy markets.
  • Critically analyze the behaviour of different actors (e.g. governments, industries) in the energy market.


Students who are admitted to study programmes at UiO must each semester register which courses and exams they wish to sign up for in Studentweb.

If you are not already enrolled as a student at UiO, please see our information about admission requirements and procedures.

The course is limited to 20 students. Students admitted to the masters programme in Renewable Energy at ITS have priority.


Recommended previous knowledge

The course builds on previous knowledge corresponding to those obtained in the Bachelor's Degree Program within Mathematics, Natural Sciences, Engineering.


The course extends over a full semester with 3 hours of teaching per week. These include guest speakers, class discussion, exercises and four mandatory assignments.

Elementary assignments

Three out of four mandatory assignments must be approved in order to take the final exam.


The final exam will be oral if there is a small number of students, otherwise it will be written. The exam counts 100% of the final grade.

Three out of four mandatory assignments must be approved in order to take the final exam.

Examination support material

No examination support material is allowed.

Language of examination

The examination text is given in English, and you submit your response in English.

Grading scale

Grades are awarded on a scale from A to F, where A is the best grade and F is a fail. Read more about the grading system.

Explanations and appeals

Resit an examination

Students who can document a valid reason for absence from the regular examination are offered a postponed examination at the beginning of the next semester.

Re-scheduled examinations are not offered to students who withdraw during, or did not pass the original examination.

Withdrawal from an examination

It is possible to take the exam up to 3 times. If you withdraw from the exam after the deadline or during the exam, this will be counted as an examination attempt.

Special examination arrangements

Application form, deadline and requirements for special examination arrangements.


The course is subject to continuous evaluation. At regular intervals we also ask students to participate in a more comprehensive evaluation.

Facts about this course






Every autumn


Every autumn

Teaching language