Electric Industry Operations and Markets from Coursera

This is a two week course. In the first week you will learn about the core activities that the Industry executes to bring electricity to customers. We will review what electricity is, how it is generated, how it is transmitted, how it comes into buildings, and how consumption of electricity instantly feeds back on the transmission and generation of electricity. You will learn to:

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.

What's inside

Syllabus

Electric Industry Operations

In the operations module, you will learn about the core activities that the Industry executes to bring electricity to customers. We will review what electricity is, how it is generated, how it is transmitted, how it comes into buildings, and how consumption of electricity instantly feeds back on the transmission and generation of electricity.

Electricity Industry Markets

In this second module, 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.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Teaches core activities that the industry executes to bring electricity to customers

Covers how electricity is generated, transmitted, and distributed

Examines how recent changes in generator fuel prices, generation technology, market regulations, and environmental regulations are transforming both Electric Industry Markets and Operations

Taught by Lincoln Pratson, renowned for their work in the energy industry

Provides a basis for understanding the electric industry's core activities, costs, and market structures

Reviews summary

Electric industry operations and markets for beginners

learners say this course provides a solid overview of basic concepts in the electric industry, including generation, transmission, and distribution. It also covers market structures and regulations. The course is well-structured and informative, with clear explanations and helpful visual aids. The instructor is knowledgeable and engaging, making the course enjoyable to learn from. While the course primarily focuses on the US electric industry, the concepts and principles taught are broadly applicable to other regions. Overall, this course is a valuable resource for students, professionals, and anyone interested in gaining a fundamental understanding of the electric industry.

While the course primarily focuses on the US electric industry, the concepts and principles taught are broadly applicable to other regions.

"I am sure that this course is a good one for the beginners in the electricity industry and will surely add value to the experienced."

This course provides a broad overview of how the electric industry operates.

"This course gave a clear view of operation management and marketing of electric industry."

The instructor is knowledgeable and engaging, making the course enjoyable to learn from.

"Great professor. Short videos and provides important insights into the energy markets."

The course covers a wide range of topics, including the basics of electricity, generation, transmission, distribution, and markets.

"Very complete course with excellent in-depth explanations and an engaging professor."

The course is well-structured and informative, with clear explanations and helpful visual aids.

"Very informative, general introduction to the existing systems that keep our lights on; from generation, transmission, distribution, all the way to our homes and businesses."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Electric Industry Operations and Markets with these activities:

Summarize course syllabus

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Review the syllabus to become more familiar with the course topics and structure.

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Read the course syllabus thoroughly.
Note down the key topics and concepts that will be covered.
Identify the learning objectives for each module.

Glossary of electricity terms

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Compile a list of key terms and definitions related to the electric industry to improve vocabulary and understanding of the subject matter.

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Identify key terms related to electricity generation, transmission, distribution, and markets.
Define each term clearly and concisely.
Organize the terms into a glossary for easy reference.

Explore electricity generation technologies

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Watch videos or read articles about various electricity generation technologies to gain a deeper understanding of their advantages and disadvantages.

Browse courses on Electricity Generation

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Research different electricity generation technologies, such as coal, natural gas, solar, and wind.
Learn about the advantages and disadvantages of each technology.
Watch videos or read articles about how these technologies are used in the electric industry.

Five other activities

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Discuss electricity market regulations

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Engage in discussions with peers to exchange perspectives and deepen understanding of the regulatory frameworks governing the electric industry.

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Form a study group or join an online forum.
Read articles and case studies on electricity market regulations.
Discuss the pros and cons of different regulatory approaches.

Volunteer at a renewable energy project

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Gain hands-on experience with renewable energy technologies and their applications by volunteering at a project site.

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Find a renewable energy project site that needs volunteers.
Learn about the project and the technologies being used.
Assist with tasks such as installation, maintenance, and monitoring.

Power System Analysis and Design

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Review this classic textbook to gain a thorough understanding of power systems and their analysis.

View Power System Analysis and Design, SI Edition on Amazon

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Read the book thoroughly and take notes.
Work through the practice problems and examples.
Apply the concepts to real-world power system scenarios.

Electricity industry research paper

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Conduct research on a specific topic within the electric industry and write a paper to demonstrate understanding and critical thinking skills.

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Choose a research topic related to the electric industry.
Gather information from credible sources.
Analyze the data and draw conclusions.
Write a research paper that presents your findings.

Design a microgrid system

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Develop a design for a microgrid system to demonstrate understanding of the principles of electricity generation, distribution, and control.

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Determine the requirements of the microgrid system, including load demand, generation capacity, and energy storage.
Select appropriate technologies for electricity generation, distribution, and control.
Design the layout and configuration of the microgrid system.
Simulate the performance of the microgrid system using software tools.

Career center

Learners who complete Electric Industry Operations and Markets will develop knowledge and skills that may be useful to these careers:

Power Plant Operator

Power Plant Operators control and maintain the equipment that generates electricity in power plants. This course will teach you the basics of electricity generation, transmission, and distribution, which will give you a strong foundation for a career as a Power Plant Operator.

See salaries and explore the career path for Power Plant Operator

Transmission and Distribution Manager

Transmission and Distribution Managers oversee the operation and maintenance of the electrical grid. This course will teach you about the different components of the grid and how they work together to deliver electricity to customers.

See salaries and explore the career path for Transmission and Distribution Manager

Renewable Energy Project Developer

Renewable Energy Project Developers identify, develop, and manage renewable energy projects. This course will teach you about the different types of renewable energy technologies and how they are used to generate electricity.

See salaries and explore the career path for Renewable Energy Project Developer

Energy Trader

Energy Traders buy and sell electricity on the wholesale market. This course will teach you about the different types of electricity markets and how they operate. You will also learn about the factors that affect the price of electricity.

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Energy Market Analyst

Energy Market Analysts forecast the supply and demand for electricity and other energy commodities. This course will teach you about the different factors that affect the energy market and how to use data to make informed predictions.

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Energy Policy Analyst

Energy Policy Analysts develop and evaluate policies that affect the energy sector. This course will teach you about the different types of energy policies and how they impact the industry.

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Energy Consultant

Energy Consultants provide advice to businesses and governments on energy-related issues. This course will teach you about the different aspects of the energy industry and how to develop and implement energy solutions.

See salaries and explore the career path for Energy Consultant

Environmental Engineer

Environmental Engineers design and implement solutions to environmental problems. This course will teach you about the environmental impacts of electricity generation and distribution and how to mitigate those impacts.

See salaries and explore the career path for Environmental Engineer

Power Systems Engineer

Power Systems Engineers design and analyze electrical power systems. This course will teach you about the different components of a power system and how they work together to deliver electricity to customers.

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Electrical Engineer

Electrical Engineers design and develop electrical equipment and systems. This course will teach you about the basics of electricity and how it is used to power our world.

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Mechanical Engineer

Mechanical Engineers design and develop mechanical systems. This course will teach you about the basics of mechanics and how they are used to generate electricity.

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Operations Research Analyst

Operations Research Analysts use mathematical and analytical techniques to solve problems in a variety of industries, including the energy sector. This course will teach you about the different tools and techniques used by Operations Research Analysts.

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Data Scientist

Data Scientists use data to solve problems and make predictions. This course will teach you about the different tools and techniques used by Data Scientists. You will also learn how to use data to make informed decisions about energy-related issues.

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Software Engineer

Software Engineers design and develop software applications. This course will teach you about the basics of software development and how it is used in the energy sector.

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Financial Analyst

Financial Analysts provide advice to businesses and governments on financial matters. This course will teach you about the different aspects of financial analysis and how it is used in the energy sector.

See salaries and explore the career path for Financial Analyst