Electricity market

Description

The trends and major driving factors in the electricity trading market, electricity trades methodologies and practice, and the identification of the major stakeholders in the electricity sector.

Alternative labels

market for electricity
electrical power market
trade in electricity
electricity market sector
electric power market
electricity trading
electricity trading market
electricity dealing

Skill type

knowledge

Skill reusability level

cross-sector

Relationships with occupations

Essential knowledge

Electricity market is an essential knowledge of the following occupations:

Electricity sales representative: Electricity sales representatives assess clients’ energy needs, and recommend the purchase of electricity supply from their corporation. They promote their corporation’s services, and negotiate terms of sale with clients.
Electrical transmission system operator: Electrical transmission system operators transport energy in the form of electrical power. They transmit electrical power from generation plants over an interconnected network, an electrical grid, to electricity distribution stations.
Energy assessor: Energy assessors determine the energy performance of buildings. They create an Energy Performance Certificate (EPC) which indicates what the estimated energy consumption of a property is. Furthermore they give advice on how to improve energy conservation.
Solar energy sales consultant: Solar energy sales consultants provide advice on solar energy for domestic or industrial purposes, and aim to promote the use of solar energy as an alternative and more sustainable source of energy. They communicate with prospective clients, and attend networking events, to ensure increased sales of solar energy products.

Optional knowledge

Electricity market is optional for these occupations. This means knowing this knowledge may be an asset for career advancement if you are in one of these occupations.

Domestic energy assessor: Domestic energy assessors advise individuals on energy supply for their homes. They assess the individual’s needs and recommend the appropriate source of energy and supplier, attempting to secure energy sales. They also advise on economic and environmental advantages of types of energy, and create energy plans compliant with regulations and the technical requirements and conditions of the residence.
Renewable energy consultant: Renewable energy consultants advise clients on the advantages and disadvantages of different renewable energy sources. They conduct surveys and interviews to research demand of and opinions on renewable energy, and strive to advise clients on the most advantageous source of renewable energy for their purpose.
Energy trader: Energy traders sell or buy shares of energy, sometimes from different sources. They analyse the energy market and investigate trends in prices to decide when to buy or sell shares and ensure the most profit. They make calculations, and write reports on energy trades procedures, and make predictions on the development of the market.
Solar energy engineer: Solar energy engineers design systems which generate electrical energy from sunlight, such as photovoltaic systems. They design and construct systems which optimise the energy output from solar power, and the sustainability of the production process of solar systems.
Electricity and energy vocational teacher: Electricity and energy vocational teachers instruct students in their specialised field of study, electricity and energy, which is predominantly practical in nature. They provide theoretical instruction in service of the practical skills and techniques the students must subsequently master for a electricity and energy-related profession. Electricity and energy vocational teachers monitor the students’ progress, assist individually when necessary, and evaluate their knowledge and performance on the subject of electricity and energy through assignments, tests and examinations.
Mechanical engineer: Mechanical engineers research, plan and design mechanical products and systems and supervise the fabrication, operation, application, installation and repair of systems and products. They research and analyse data.
Electric power generation engineer: Electric power generation engineers design and develop systems which generate electrical power, and develop strategies for the improvement of existing electricity generation systems. They strive to conciliate sustainable solutions with efficient and affordable solutions. They engage in projects where supply of electrical energy is required.
Manufacturing manager: Manufacturing managers plan, oversee and direct the manufacturing process in an organisation. They ensure products and services are efficiently produced within the timeframe and budget given.
Electrical power distributor: Electrical power distributors operate and maintain equipment which deliver the energy from the transmission system to the consumer. They supervise power line maintenance and repairs, and ensure the distribution needs are met. They also react to faults in the distribution system which cause problems such as outages.
Power distribution engineer: Power distribution engineers design and operate facilities which distribute power from the distribution facility to the consumers. They research methods for the optimisation of power distribution, and ensure the consumers’ needs are met. They also ensure compliance to safety regulations by monitoring the automated processes in plants and directing workflow.
Energy engineer: Energy engineers design new, efficient and clean ways to produce, transform, and distribute energy to improve environmental sustainability and energy efficiency. They extract energy through natural resources, such as oil or gas, or renewable and sustainable sources, such as wind or solar power. 
Power plant manager: Power plant managers supervise operations in power plants which produce and transport energy. They coordinate the production of energy in the plant, and supervise the construction, operation and maintenance of energy transmission and distribution networks and systems.
Energy consultant: Energy consultants advise clients on the advantages and disadvantages of different energy sources. They help clients to understand energy tariffs and try to reduce their energy consumption and carbon footprint by using energy efficient products and methods.
Substation engineer: Substation engineers design medium and high voltage substations used for the transmission, distribution, and generation of electrical energy. They develop methods for the efficient operation of the energy process, and ensure compliance to safety and environmental standards.
Renewable energy sales representative: Renewable energy sales representatives assess clients’ energy supply needs, and attempt to secure sales of renewable energy methods. They promote renewable energy suppliers and the use of renewable energy products, and liaise with consumers to increase sales.

 


 

References

  1. Electricity market – ESCO

 

Last updated on September 20, 2022

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