This course aims to explain the practical aspects of energy economics based on my experience from the oil industry (ExxonMobil), in energy consultancy (covering all forms of energy across Europe), as Chief Economist of Germany’s largest power generator - RWE AG, and as senior advisor to the Energy Transitions Commission.
As compared to typical text-books it focusses on decision-taking and changes in the energy markets
with emphasis on:
• The interaction between economics, policy, and technology
• Calculation of fixed and variable costs for energy plants
• How and where competition takes place along the supply chain (e.g. tendering for new plants, wholesale markets, energy exchanges and at the retail level).
The course consists of thirteen lectures of which four are double-length and four pieces of coursework, each of which would require 1-2 hours work.
It has been very highly rated by the students at the Ruhr University Bochum, with the top grade for overall evaluation of the course, supported by the following comments:
• A lot of insights into processes in practice
• Very interesting presentation of the facts and their relevance in today's world
• Practical relevance, up-to-date figures/trends, extensive content on all parts of the energy industry, critical assessment of the applied policies, encourages independent research, exciting presentations with a variety of diagrams and visualizations
• The professor is always able to offer the most sensible insights and critical analysis based on his vast experience. He also takes into account the difficulty of knowledge and simplifies complex issues. In addition, he is keen to help and care for students.
- Kursleiter/in: Graham Weale