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2024/2025  BA-BHAAV6040U  Sustainability and Business: Energy Markets, Competition, and Regulation

English Title
Sustainability and Business: Energy Markets, Competition, and Regulation

Course information

Language English
Course ECTS 7.5 ECTS
Type Elective
Level Bachelor
Duration One Semester
Start time of the course Autumn
Timetable Course schedule will be posted at calendar.cbs.dk
Max. participants 150
Study board
Study Board for BSc in Economics and Business Administration
Course coordinator
  • Christine Brandstätt - Department of Economics (ECON)
Main academic disciplines
  • CSR and sustainability
  • Innovation
  • Political leadership and public management
Teaching methods
  • Blended learning
Last updated on 09-02-2024

Relevant links

Learning objectives
There is an increasing demand for business professionals with an understanding of the energy sector. To support you with deciding about or starting your career in the energy, this course aims to enable you to:
  • Understand current and future challenges and trends for a sustainable energy sector
  • Understand the implications of political goals, e.g., regarding sustainability and decarbonization, for the energy sector
  • Describe the general organization and governance of the energy sector
  • Demonstrate a comprehensive knowledge of the main assumptions of economic models of monopoly regulation and market design
  • Discuss different roles in energy supply or related business models from an economic perspective
  • Discuss current changes and innovations, their implications for energy firms’ opportunities and their interaction with regulation and market design
Course prerequisites
Basic working knowledge of microeconomics
Sustainability and Business: Energy Markets, Competition, and Regulation:
Exam ECTS 7,5
Examination form Written sit-in exam on CBS' computers
Individual or group exam Individual exam
Assignment type Written assignment
Duration 3 hours
Grading scale 7-point grading scale
Examiner(s) One internal examiner
Exam period Winter
Aids Limited aids, see the list below:
The student is allowed to bring
  • An approved calculator. Only the models HP10bll+ or Texas BA ll Plus are allowed (both models are non-programmable, financial calculators).
The student will have access to
  • basic IT application package
Make-up exam/re-exam
Same examination form as the ordinary exam
The number of registered candidates for the make-up examination/re-take examination may warrant that it most appropriately be held as an oral examination. The programme office will inform the students if the make-up examination/re-take examination instead is held as an oral examination including a second examiner or external examiner.
Course content, structure and pedagogical approach

The energy sector is one of the largest sectors in the economy and heavily regulated. It is critically linked to the mitigation of climate change and at the heart of recent debates of security and affordability. To understand and evaluate business opportunities in renewable energies, sustainable fuels and other parts of the energy sector, it is vital to develop a basic understanding of the organization of the energy supply chain, energy market design, subsidies and network regulation.


This course introduces you to the energy sector from an economics and business perspective. The course combines microeconomic concepts, particularly from industrial organization, with their application to electricity, natural gas, heating and Power-to-X.


The course covers the following themes and topics:

  • Microeconomics of energy use, energy demand, and energy supply
  • Energy and climate policy at national level and international cooperation
  • Sector organization and energy supply with a focus on electricity, gas and heat supply
  • Economics of investment in renewable energy technologies and business models for innovative energy services
  • Market design and competition in energy markets with a focus on electricity wholesale
  • Introduction to the theory and principles of monopoly regulation with a focus on networks and utilities for electricity, gas and heat


This module is endorsed by the Copenhagen School of Energy Infrastructure (CSEI) at CBS and it is embedded in its overall strategy of research and education. CSEI is directly supported by the European Commission (DG Energy).

Description of the teaching methods
The curse is a blended course.

It features:
• lectures where students have the opportunity to participate actively in discussions and case studies
• self-paced elements such as study questions and supportive video and audio material
• guest lectures by experts and practitioners from the energy sectors
• (voluntary) site visits to energy related facilities - participation is not a requirement for the course
Feedback during the teaching period
You will have opportunities to get feedback via
• oral discussions and cases in class
• study questions
• office hours
Student workload
Lectures 38 hours
Preparation for lectures 142 hours
Preparations for the exam 25 hours
Exam 3 hours
Expected literature


Mulder, M. (2021). Regulation of Energy Markets (Vol. 80). Springer International Publishing.


Selected chapters from:


Bhattacharyya, S.C. (2019). Energy Economics: Concepts, issues, markets and governance, 2nd ed., Springer.


Cretì, A., and Fontini, F. (2019). Economics of Electricity. Markets, competition and rules. Cambridge University Press.




Additional material

Collection of articles and policy reports 

Last updated on 09-02-2024