| MBA951 |
Fundamentals of Economics, Accounting and Finance |
5 |
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.
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- ● 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
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| MBA952 |
Power Sector Reform and Regulation: Economic Principles and Evolution |
5 |
To understand the economic rationale for regulation, and the evolution of the regulatory and policy changes in the power sector.
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- ● 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
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| MBA953 |
Power System Operation and Ancillary Services |
5 |
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.
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- ● 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
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| MBA954 |
Power Sector Regulation in Practice: MYT Framework for Generation, Transmission & Distribution |
5 |
To understand Multi-Year Tariff Framework for generation, transmission and distribution. To understand the process of ARR approval and tariff determination.
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- ● 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
- ● 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
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| MBA955 |
Competition and Power Market Development |
5 |
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.
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- ● 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
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| MBA956 |
Smart Grid Technologies and Implementation |
5 |
To understand the implementation and technologies involved to integrate and optimize distributed energy resources to achieve a more efficient and reliable grid.
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- ● 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
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| MBA957 |
Power Procurement: Principles and Practice |
5 |
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.
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- ● Power Procurement: PPA under Regulated Tariff, Competitive Bidding and Markets
- ● Power Purchase Agreement: Contracting & Transitioning
- ● Short-term Power Procurement: In Practice
- ● Levelized Tariff: Estimating and Understanding
- ● Economic Approach: 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
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| MBA958 |
Renewable Energy Policy, Regulation and Market |
5 |
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 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.
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- ● Evolution of Renewable Energy Development: India and the World
- ● Understanding RE Resources: Solar, Wind, Small Hydro, Biomass and Others
- ● Policy and Regulatory Framework: RPO, FiT, RECs
- ● Regulated Tariff Determination: For Renewable Energy
- ● Competitive Bidding: For RE Procurement
- ● Market for RECs: Developing Renewable Energy Certificates
- ● 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)
- ● RE Scheduling & Dispatch: Forecasting and Deviation Settlement Regulations
- ● PAT Mechanism: ESCerts
- ● Mini Project: —
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| MBA959 |
Regulatory Capstone Project - I |
5 |
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.
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- ● Project Topic Selection: In consultation with the course coordinator/main supervisor
- ● Relevance: Topics should align with the program objectives; industry-relevant topics are preferable
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| MBA960 |
Regulatory Capstone Project - II |
5 |
This capstone project allows 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 this module will select a project topic in coordination with the course coordinator or main supervisor. Topics should be relevant to the program, and industry-relevant topics are preferred.
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- ● Project Objective:
- Demonstrate ability to define a research question and apply domain knowledge
- ● Topic Selection:
- Choose a topic in consultation with the supervisor that is relevant to the program
- ● Industry Relevance:
- Preference for topics that solve real-world industry problems
- ● Skills Demonstrated:
- Research design, data collection, analytical thinking, presentation and reporting
- ● Mentorship:
- Close supervision by faculty or assigned project mentor
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| MBA961 |
Designing Retail Electricity Tariff |
5 |
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.
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- ● 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 – I: Category-wise and Voltage-wise
- ● Estimating Cost of Service – II: Category-wise and Voltage-wise
- ● Estimating Cost of Service: Hands-on exercise
- ● 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
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| MBA962 |
Power Sector Regulation: Emerging Issues and International Perspectives |
5 |
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.
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- ● 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 – I: Developments and Future Prospects
- ● Electricity Act Amendment – II: Developments and Future Prospects
- ● 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 – I: APTEL and Supreme Court
- ● Learning from recent judgements – II: APTEL and Supreme Court
- ● Clean Energy Transition for the Power Sector: International Perspective
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| MBA963 |
Project Financing for Energy and Infrastructure Sectors |
5 |
Project Financing, being distinct from corporate finance, 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 stakeholders in a project financial deal in such sectors face a variety of risks that are hedged through a variety of contractual arrangements.
The course provides an exposure to the conceptual and applied understanding while evaluating a project financing deal. It also helps understand the contractual linkages that identify, manage, and allocate various risks in Project Financing, particularly in the energy and infrastructure sectors.
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- ● Project Finance for Energy and Infrastructure Projects:
- Understanding Project 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:
- Understanding Financial Structuring, Financial statements and ratios
- ● Evaluating Free Cash Flows:
- Free cash flow to project and free cash flow 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:
- Identify project risks, understand mitigation strategies and contractual linkages
- ● Term sheet, covenants and loan documentation:
- Project finance term sheet, covenants and loan documentation
- ● Case study based financial modelling of projects:
- Hands-on Case Discussion and Financial modelling for identified cases
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