Define what electricity is;
Describe how electricity is generated, transmitted and distributed;
Describe how electricity is generated, transmitted and distributed; and
Summarize how the consumption of electric energy instantly feeds back on the transmission and generation of electricity.
In the second week, the course shifts to the markets that drive Electric Industry operations. You will learn about the various costs of the electric industry’s core activities, how electricity is priced, the various ways that electric markets are structured, how these market structures determine which power plants are dispatched to produce electricity when, and how recent changes in generator fuel prices, generation technology, market regulations, and environmental regulations are transforming both Electric Industry Markets and Operations. You will learn to:
Describe the main cost components to the electric system;
Compare the costs of different types of power plants;
Interpret the retail pricing of electricity;
Explain the different types of electric markets and understand how they operate to dispatch electric supply to meet demand in real time; and
Explain why and how the electric industry is regulated.