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Master’s in Electricity Markets Engineering and Regulation

Online master's programme of 1,900 hours in electricity markets and regulation engineering. 12 modules covering electricity economics, wholesale market design, the Iberian MIBEL market, balancing services, PPAs and risk management, network regulation, Spanish and European regulatory frameworks, capacity mechanisms, market modelling and competition, applying Law 24/2013, Regulation (EU) 2019/943 and PLEXOS, with an assigned technical tutor.

Duration1900 h
ModeOnline
LanguageEnglish
Start datesSet by the faculty
AwardSEIUM Institute diploma
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Learning outcomes

What you will be able to do

01

Apply economic fundamentals to the analysis of the electricity sector.

02

Understand the design and operation of wholesale markets.

03

Analyse the Iberian market using real data.

04

Value energy contracts and manage their risks.

05

Interpret network regulation and the Spanish framework.

06

Assess capacity mechanisms and security of supply.

07

Model electricity markets to analyse regulatory proposals.

Profile

Who it's for

  • Electricity market analysts.
  • Energy regulatory consultants.
  • Energy risk managers.
  • PPA originators.
  • Regulatory officers at supervisory bodies.
  • Electricity traders.
  • Engineering or science graduates seeking to enter energy trading and retail.
Standards & tools

What you'll work with

  • Law 24/2013 (Spanish Electricity Sector Act)
  • Regulation (EU) 2019/943 (internal market for electricity)
  • Directive (EU) 2019/944 (common rules for the internal market for electricity)
  • Regulation (EU) 2024/1747 (electricity market design reform)
  • Regulation (EU) 1227/2011 (REMIT)
  • Regulation (EU) 2015/1222 (CACM)
  • CNMC Circular 3/2020 (network tariff methodology)
  • Royal Decree 960/2020 (economic regime for renewable energy)
  • PLEXOS
  • Python (pandas, Pyomo)
  • R
  • Aurora
  • Excel (financial models)
Syllabus

12 modules · 1900 h

  1. 1.1Economic characteristics of electricity
  2. 1.2Fixed and variable generation costs
  3. 1.3Merit-order supply curve
  4. 1.4Demand elasticity
  5. 1.5Natural monopoly in networks
  6. 1.6Liberalisation of the sector
  7. 1.7Market failures
  8. 1.8Externalities and the carbon price
  9. 1.9Security of supply as a public good
  10. 1.10Case study: building a system supply curve
  1. 2.1Energy-only markets and markets with capacity
  2. 2.2Marginal pricing versus pay-as-bid
  3. 2.3Nodal and zonal markets
  4. 2.4European market coupling (SDAC)
  5. 2.5The EUPHEMIA clearing algorithm
  6. 2.6Single intraday coupling (SIDC)
  7. 2.7Balancing services markets
  8. 2.8Settlement mechanisms
  9. 2.9Negative prices and their causes
  10. 2.10Lab: bid clearing with a simplified model
  1. 3.1How OMIE works
  2. 3.2Simple and complex bids
  3. 3.3The OMIP forward market
  4. 3.4Products and settlement
  5. 3.5Interconnection with France
  6. 3.6The 2022 Iberian adjustment mechanism
  7. 3.7Price formation in Spain and Portugal
  8. 3.8Concentration indicators
  9. 3.9Transparency and data publication
  10. 3.10Practical exercise: analysis of OMIE aggregate curves
  1. 4.1Resolution of technical constraints
  2. 4.2Secondary and tertiary regulation
  3. 4.3Imbalance management
  4. 4.4Active demand response service
  5. 4.5European balancing platforms
  6. 4.6Balancing costs and their allocation
  7. 4.7Participation of renewables and storage
  8. 4.8Aggregators in ancillary services
  9. 4.9Evolution of the design
  10. 4.10Case study: a battery in ancillary services
  1. 5.1Bilateral contracts and PPAs
  2. 5.2Physical and financial PPAs
  3. 5.3Profiles: pay-as-produced and baseload
  4. 5.4Price, volume and profile risk
  5. 5.5Hedging with futures
  6. 5.6Guarantees of origin
  7. 5.7PPA valuation
  8. 5.8Counterparty risk
  9. 5.9Two-sided contracts for difference
  10. 5.10Practical exercise: valuation of a solar PPA
  1. 6.1Remuneration of transmission and distribution
  2. 6.2Incentive-based regulation models
  3. 6.3Regulated asset base and rate of return
  4. 6.4Incentives for quality and losses
  5. 6.5CNMC network tariff methodologies
  6. 6.6System charges
  7. 6.7Grid access and connection
  8. 6.8Self-consumption and network tariffs
  9. 6.9Regulation of network innovation
  10. 6.10Workshop: calculating network tariffs for different consumers
  1. 7.1Law 24/2013 on the Electricity Sector
  2. 7.2Remuneration regime for renewables
  3. 7.3REER renewable auctions
  4. 7.4Social tariff and vulnerable consumers
  5. 7.5Regulated retail tariff (PVPC)
  6. 7.6Economic sustainability of the system
  7. 7.7Powers of the CNMC and the Ministry
  8. 7.8The tariff deficit and its resolution
  9. 7.9Recent market reforms
  10. 7.10Case study: analysis of a household consumer's electricity bill
  1. 8.1The Clean Energy Package
  2. 8.2The internal market Regulation and Directive
  3. 8.3Network codes and guidelines
  4. 8.4ACER and ENTSO-E
  5. 8.5The 2024 market design reform
  6. 8.6The REMIT integrity regulation
  7. 8.7The Emissions Trading System
  8. 8.8State aid in energy
  9. 8.9Security of supply
  10. 8.10Practical exercise: analysis of an ACER decision
  1. 9.1The missing money problem
  2. 9.2Types of capacity mechanism
  3. 9.3Centralised capacity markets
  4. 9.4Strategic capacity reserves
  5. 9.5Reliability options
  6. 9.6Adequacy assessment
  7. 9.7Criteria of Regulation 2019/943
  8. 9.8European experiences with capacity mechanisms
  9. 9.9Auction design
  10. 9.10Case study: design of a capacity auction
  1. 10.1Equilibrium models
  2. 10.2Strategic bidding models
  3. 10.3Game theory in markets
  4. 10.4Agent-based simulation
  5. 10.5Long-term dispatch models
  6. 10.6Price forecasting
  7. 10.7Transition scenarios
  8. 10.8Validation and calibration
  9. 10.9Commercial modelling tools
  10. 10.10Lab: price forecasting with a dispatch model
  1. 11.1Market power
  2. 11.2HHI and pivotal supplier indices
  3. 11.3Market manipulation
  4. 11.4REMIT surveillance
  5. 11.5Unbundling of activities
  6. 11.6Retail supply and retail competition
  7. 11.7Consumer protection
  8. 11.8Enforcement cases for manipulation
  9. 11.9Data transparency
  10. 11.10Workshop: market power analysis with concentration indices
  1. 12.1Statement of the regulatory question
  2. 12.2Review of the regulatory framework
  3. 12.3Market data
  4. 12.4Market modelling
  5. 12.5Analysis of results
  6. 12.6Well-founded regulatory proposal
  7. 12.7Impact assessment
  8. 12.8Conclusions and future lines of work
  9. 12.9Master's Thesis report
  10. 12.10Master's Thesis: defence before a panel
Methodology, software & labs

How you'll learn

The programme is delivered 100% online on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. There are no fixed timetables: you progress at your own pace within each intake, so it is compatible with full-time work.

Each module combines theory, guided reading of the original standard and applied exercises. The working software is PLEXOS, Python (pandas, Pyomo), R, Aurora and Excel (financial models), in free, academic or evaluation versions. You work on real procedures for analysing OMIE and REE market data, valuing PPA contracts and simulating markets with dispatch models. Assessment is continuous by module, plus the final Master's Thesis.

Standards covered: Law 24/2013; Regulation (EU) 2019/943; Directive (EU) 2019/944; Regulation (EU) 2024/1747; Regulation (EU) 1227/2011; Regulation (EU) 2015/1222; CNMC Circular 3/2020; Royal Decree 960/2020.

Assigned technical tutor:every module ends with a deliverable that your tutor marks individually.
Standards-based learning:guided reading of Law 24/2013, Regulation (EU) 2019/943 and Directive (EU) 2019/944 applied to real cases, not as a theoretical annex.
Industry software:PLEXOS, Python (pandas, Pyomo), R, Aurora and Excel (financial models), in free, academic or evaluation versions.
Master's Thesis with defence:a well-founded regulatory proposal on a real electricity market question, backed by market data, modelling and impact assessment, defended before a panel.
Flexible format:100% online, no fixed timetables, compatible with full-time work.
Capstone project

Build it end to end

Your final project follows the real engineering workflow, step by step, reviewed by your tutor.

Market data analysis
Analyse OMIE aggregate curves and Iberian price formation.
PPA valuation
Value a solar PPA and its price, volume and profile risks.
Network tariffs
Calculate network tariffs and charges for different consumers.
Market modelling
Forecast prices with a dispatch model and test a regulatory change.
Master's Thesis
a well-founded regulatory proposal on a real electricity market question, backed by market data, modelling and impact assessment, defended before a panel.
Career opportunities

Where this takes you

Electricity market analystEnergy regulatory consultantEnergy risk managerPPA originatorRegulatory officer at a supervisory bodyElectricity trader
Admissions & scholarships

Requirements

  • University degree in engineering, science or architecture, or equivalent demonstrable professional experience.
  • Internet connection and a computer capable of running the programme's software.
  • English sufficient to read technical standards.

Ready to start?

Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.

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FAQ

Frequently asked questions

The programme totals 1,900 hours over 12–14 months. You set your own pace within each intake, and your tutor helps you plan the workload around your job.

You work with PLEXOS, Python (pandas, Pyomo), R, Aurora and Excel (financial models), using free, academic or evaluation versions. Your tutor indicates the free alternative wherever one exists.

A SEIUM Institute diploma, awarded on passing the continuous assessment and the Master's Thesis. It is SEIUM's own qualification, not an official state degree; its recognition depends on the programme completed and the regulations of each country.

Yes. Modules passed in a course or postgraduate diploma in the same area are recognised in the higher programme. Ask about the recognition policy when you enrol.

A university degree in engineering, science or architecture, or equivalent professional experience, plus a computer able to run the software and English sufficient to read technical standards.

Start dates are set by SEIUM's faculty for each intake. Our admissions team will confirm the next available date when you apply.

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