This course is an introduction in using data to analyse, describe and help make decisions within the energy industry and energy markets. The course covers both the power industry and oil and gas extraction. In the course, students will learn how to use data to answer questions of how, when and where investments in energy generation and extraction take place. Students will also learn how to use data to analyse and make decisions related to power- and petroleum-industry operations. A particular focus of the course will be using data to analyse changes in market structure induced by way of changing regulations or the shift towards low-carbon technologies. Students will use the statistical software R to organise, clean, visualise and model energy data.
Topics:
- Modelling and forecasting of price and volatility in power markets
- Modelling and forecasting of price and volatility in oil and natural gas markets
- Analysing investment decisions in renewable generation
- Analysing exploratory- and extraction-drilling decisions for offshore oil and gas
- Modelling the operation and dynamics of oil and gas extraction in offshore oil and gas
- The effects of CO2 taxes and cap-and-trade allowances on energy markets
- The effects of taxation rules on oil and gas extraction