Department of DoMS
Programme Name: Power Sector Regulation, Economics and Management
MODULE ID
MODULE Title
Description
Content
MBA951
Fundamentals of
Economics,
Accounting and
Finance
To provide an overview of the
fundamentals of economics and
data analysis, providing a basis for
understanding other modules in
the program. To understand
financial statements and their
relevance in regulatory accounting.
● Demand, Supply, Cost Concepts, and Perfect Competition
● Monopoly- Entry Barrier, Profit Maximization and Welfare
Impact
● Understanding Market Structure - Oligopoly and Monopolistic
Competition
● Introduction to Macroeconomic Measures
● Understanding Statistical Concepts and Regression Analysis
● Demand Estimation and Forecasting
● Production Economics
● Pricing: Theory and Practice
● Accounting Principles: Profit-Loss and Balance Sheet
Statement
● Depreciation, Working Capital, Interest Cost, and Loan
Repayment
● Free Cash Flow and Investment Valuation
● Fundamentals of Project Financing
● Evaluating Projects under Project Financing
● Differentiating Financial and Regulatory Accounting
MBA952
Power Sector
Reform and
Regulation:
Economic
Principles and
Evolution
To understand the economic
rationale for regulation, and the
evolution of the regulatory and
policy changes in the power
sector.
● Introduction to the Indian Power Sector
● Progress towards Power Sector Reforms - Electricity Act,
2003 and Beyond
● Fundamentals of Economic Regulation
● Market Failure and Regulation of Natural Monopoly
● Theories of Regulation
● Cost-of-Service Regulation - I
● Cost-of-Service Regulation - II
● Distribution Reforms and Programs – APDRP, R-APDRP,
DDUGVY, UDAY
● Incentive Regulation: Theory
● Incentive Regulation in Practice: International Experience
● Electricity Act, 2003
● National Electricity Policy and Tariff Policy
● Unbundling, Privatization and Franchisee Development -
Experience across States
● Current Developments in Policy and Regulatory Framework in
the Indian Power Sector
MBA953
Power System
Operation and
Ancillary Services
To provide an overview of the key
aspects of a power system
covering Generation, Transmission
and Distribution. To identify the
roles of ancillary services and
examine the cost drivers for
ancillary services, regulation and
reserve products.
● Understanding Power System – Generation, Transmission &
Distribution
● Functioning of Electric Bulk Power System
● Integrated Operation of Grid -Reliability, Stability and Security
● Indian Electricity Grid Code
● Power System Operation in Practice: Scheduling and
Despatch
● Transfer Capability Assessment and Congestion Management
● Deviation Settlement Mechanism
● Demand Response and Demand side management
● Assessment of Power System Stability
● Ancillary Services – RRAS and Beyond
● Understanding Power System Data and its Processing
● Governance in the Power Sector and Independence of
Regulatory Institutions
● Analytics of Power System Data
● Power System Simulation Lab
MBA954
Power Sector
Regulation in
Practice: MYT
Framework for
Generation,
To understand Multi-Year Tariff
Framework for generation,
transmission and distribution.
To understand the process of ARR
approval and tariff determination.
● Regulatory Framework for Multi-Year Tariff (MYT)
● Tariff Determination Framework: Electricity Act, 2003 and
Tariff Policy, 2016
● Rate of Return Regulation and Performance Based
Regulation
Transmission &
Distribution
Hands-on exercises to understand
the above.
● Regulated Tariff Framework for Thermal Generation
● Determining Tariff for Thermal Generation: Hands-on Exercise
● Regulated Tariff Framework for Hydro Generation
● Determining Tariff for Hydro Generation: Hands-on Exercise
● Fundamentals of Transmission Tariff Design
● Evolution of Transmission Tariff - PoC and Sharing of
Transmission charges
● Regulated Tariff Framework for Distribution
● Determining Tariff for Distribution - I: Hands-on Exercise
● Determining Tariff for Distribution - II: Hands-on Exercise
● Estimating Category-wise Cost-of-Service: Hands-on
Exercise
● Return on Equity and Return on Capital Employed: Estimation
and Implementation
● Benchmarking Norms for Tariff Determination – Generation,
Transmission and Distribution
MBA955
Competition and
Power Market
Development
To understand the evolution of the
Power Market in India. To
understand the regulatory and
policy framework for Power Market
Operation. To understand various
market segments. To understand
the operation of power exchanges.
Retail Competition and
International Experiences in Power
Market Development.
● Principles of Electricity Market Design - I
● Indian Power Market Structure: Role of Trading and Power
Exchanges
● Power Market Regulation, Transmission Allocation, DSM
Regulation, Grid code and Licensing
● Network Access (STOA, MTOA & LTA) and Cross-subsidy
Surcharge
● Principles of Electricity Market Design -II
● Electricity Contracts and Operation of Power Exchanges
● Short-term power market – Bilateral, DEEP, Banking/ Barter
● Resource Adequacy and Capacity Market
● SCED and MBED
● Market Monitoring, Market Share, Market Power and its
estimation
● International Experiences in Power Market Development
● Derivatives and Risk Management in Power Market
● Retail Competition
● Evolution of Power Market: Next Steps
MBA956
Smart Grid
Technologies and
Implementation
To understand the implementation
and technologies involved to
integrate and optimize distributed
energy resources to achieve a
more efficient and reliable grid.
● History of Power System and Power System Automation
● Smart Grid Definition
● Smart Grid Domains & Building Blocks
● Smart Grid Architecture
● Smart Grid Measurement Technology
● Smart Grid Measurement & Communication Technologies
● Energy Storage and Demand Response
● Active Distribution System Management
● National Smart Grid Mission and Pilot Projects
● Peer-to-Peer Market and Blockchain
● Regulatory Aspects related to Smart Grid
● Microgrids - Regulatory and Policy Framework
MBA957
Power
Procurement:
Principles and
Practice
To understand economic and
financial concepts related to the
decision-making for power
procurement. To provide an
understanding of the process of LT
and ST power procurement in the
power sector. To understand the
regulatory and policy framework
governing the same. Hands-on
exercises/projects to understand
the above.
● Power Procurement – PPA under Regulated Tariff,
Competitive Bidding and Markets
● Power Purchase Agreement - Contracting & Transitioning
● Short-term Power Procurement in Practice
● Estimating and Understanding Levelized Tariff
● Economic Approach to Power Procurement – Merit-order
Dispatch
● Resource Adequacy: Long-term Demand Forecasting and
Power Procurement Planning
● Long-term Demand Forecasting: Electric Power Survey
● Competitive Bidding – Principles and Guidelines
● Power Procurement Portfolio Management - Multiple
Sessions
● Short-term Load Forecasting in Practice
● Mini-project (live)
MBA958
Renewable Energy
Policy, Regulation
and Market
To provide an overview on the
Renewable Energy Policy,
Regulation and Market. To
understand the process of RE
procurement through regulated
and competitive bidding
Mechanisms. To understand
● Evolution of Renewable Energy Development – India and the
World
● Understanding Solar, Wind, Small Hydro, Biomass and other
RE Resources
● Policy and Regulatory Framework for Renewable Energy
Development: RPO, FiT, RECs
● Regulated Tariff Determination for Renewable Energy
various aspects of policy and
regulatory instruments to promote
RE. To understand challenges to
RE development. To understand
the development of the market for
REC and other market-based
products. To understand factors
influencing framework for behind
the meter generation by domestic,
industrial and agricultural
consumers.
● Competitive Bidding for RE procurement
● Developing a Market for Renewable Energy Certificates
(RECs)
● Designing and Implementing a Rooftop SPV Program: Net
Metering vs Gross Metering
● Solaralisation of Agricultural Pumps
● RE Procurement in Practice: GTAM, GDAM and Beyond
● Challenges to RE integration - Role of Flexibility and Storage
(Hydro, Pumped Storage and Battery)
● Renewable Energy Scheduling, Forecasting, Dispatch and
Deviation Settlement Regulations
● PAT Mechanism and ESCerts
● Mini Project
MBA961
Designing Retail
Electricity Tariff
To understand economic and
financial concepts related to the
electricity retail tariff. To
understand the regulatory and
policy framework governing the
same. Hands-on exercises/project
to understand the above.
● Economics of Retail Tariff Design: Concepts of Elasticity and
Price Discrimination
● Principles of Retail Tariff Design - Single Part vs. Multi-part
Tariffs, Telescopic vs non-telescopic Tariff and Two-part Tariff
vs. Minimum charges
● Mini Project (Part A) - Evolution of Retail Tariff in a state
● Estimating Cost of Service – Category-wise and Voltage-wise
- I
● Estimating Cost of Service – Category-wise and Voltage-wise
- II
● Estimating Cost of Service – Hand on exe3rcise
● Mini Project (Part B) - Redesigning Retail Tariff in a state
● Designing a demand response program and ToU Tariff
● Cross-subsidy, Subsidy and Financial gap: The Indian
Conundrum
● Consumer electricity pricing under retail competition
● Implementation of Retail Competition in India: Sectoral
Legacy and Tariff Unbundling
● Mini Project - Final Presentation
● Consumer Services - Supply Code and Standard of
Performance
● Consumer Rights, Grievance Redressal and Ombudsman
MBA962
Power Sector
Regulation:
Emerging Issues
and International
Perspectives
To learn from international
experience from power sector
reform. To understand the role of
the power sector in India’s climate
policy commitments. To
understand the impact of RE, EV
and Green Hydrogen adoption on
Indian power market with respect
to decarbonization targets. To
understand the institutional
framework, processes and
adjudication of disputes in the
power sector and learning from
recent judgements of APTEL and
Supreme Court.
● Cross Border Energy Trade and Regional power market
● Electric Vehicle Charging Infrastructure
● Green Hydrogen: Technology and Economics
● Green Hydrogen: Mission, Standards and Policy
● Energy Storage: Economics and Supply Chain
● Electricity Act Amendment: Developments and Future
Prospects - I
● Electricity Act Amendment: Developments and Future
Prospects - II
● India's Climate Policy Commitments and the Role of Power
Sector
● Challenges to Harnessing India's PV Potential: Technology,
Supply Chain and Policy Environment
● International Experience of Power Sector Regulation: Market
Evolution and Regulatory Governance
● Learning from recent judgements of APTEL and Supreme
Court - I
● Learning from recent judgements of APTEL and Supreme
Court - II
● Clean Energy Transition for the Power Sector: International
Perspective
MBA959
Regulatory
Capstone Project -
I
To allow the students to
demonstrate their understanding,
abilities and skills required to
formulate a relevant question,
gather relevant data, undertake
analysis and present the
outcome. Students, in consultation
with the supervisor, may choose a
topic of their interest in the
relevant area of the program.
A student registered for a project module will choose a project topic
in consultation with the course coordinator/main supervisor. Topics
should be relevant to the program. Industry-relevant topics would be
preferable.
MBA960
Regulatory
Capstone Project -
II
To allow the students to
demonstrate their understanding,
abilities and skills required to
formulate a relevant question,
gather relevant data, undertake
analysis and present the outcome.
Students, in consultation with the
supervisor, may choose a topic of
their interest in the relevant area of
the program.
A candidate registered for a project module will choose a project
topic in consultation with the course coordinator/main supervisor.
Topics should be relevant to the program. Industry-relevant topics
would be preferable.
MBA963
Project Financing
for Energy and
Infrastructure
Sectors
Project Financing, being distinct
from corporatefinance, pertains to
fundings of projects under an
SPV framework which assures
debt servicing through the project
cash flows. Energy and
infrastructure sector projects
require large investment and have
a long-gestation period. The
stakeholder in a project financial
deal in such sectors face a variety
of risksthat are hedged through a
variety of contractual
arrangements.The course would
provide an exposure to the
conceptual and applied
understanding while evaluating a
project financing deal.The course
would also help understand the
contractual linkages that identify,
manage and allocate various risks
in a Project Financing, particularly
in the energy and infrastructure
sectors.
● Project Finance for Energy and Infrastructure Projects
○ UnderstandingProject Financing, Project Financing
Vs Corporate Financing, Financing Energy and
Infrastructure Projects
● Understanding financial concepts
○ Time value of money, discount rate and investment
valuation
● Understanding Financial Structuring,statements and
ratios
○ UnderstandingFinancialStructuring, Financial
statements and ratios
● Evaluating Free Cash Flows
○ Free cash flow to project and free cashflow to
equity, Interest During Construction (IDC)
● Project Evaluation Concepts
○ NPV, IRR, MIRR, Cost-benefit Analysis, Payback
period etc.Viability vs financeability of projects
● Evaluating Public/Social Projects
○ Social Cost-benefit Analysis,Financial Vs Economic
IRR
● Project Appraisal and Documentation
○ Project Appraisal, Financial Ratios and
Documentation
● Sources of Finance for Energy and Infrastructure
Projects
○ Financing Infrastructure Projects, Sources of
Finance, Consortium Financing, Domestic and
International sources of project finance, Green
Financing, Role of Multilateral Agencies (MLAs)
● Risk Identification and Mitigation
○ Identifyproject risks, understand mitigation
strategies and contractual linkages
● Term sheet, covenants and loan documentation
○ Project financeterm sheet, covenants and loan
documentation
● Case study based financial modelling of projects
○ Hands on Case Discussion and Financial modelling
for identified cases.
