Detail publikace

Determinants of the Relationship between Wholesale and Retail Energy Prices in the Czech Republic

PAVLÁKOVÁ DOČEKALOVÁ, M. LUŇÁČEK, J. RADIL, L. BALCERZAK, A. MELUZÍN, T. ŁAPIŃSKA, J. ZINECKER, M.

Originální název

Determinants of the Relationship between Wholesale and Retail Energy Prices in the Czech Republic

Typ

článek v časopise ve Web of Science, Jimp

Jazyk

angličtina

Originální abstrakt

Rising energy prices have become a focus of interest for politicians at the international, European, and national levels. Energy prices are the main determinant of profitability or even the existence of the industrial sector. So, it is accepted that energy policy aims to ensure a secure, sustainable, competitive, and affordable energy supply for households and businesses. However, the recent geopolitical situation has significantly affected the energy policy of the European Union, raising concerns about energy security and an energy crisis. This crisis has had social, economic, and political consequences, including energy poverty. In this context, it is essential to understand the determinants of the relationship between wholesale and retail energy prices. This paper presents a model proposal to be used by the Czech Energy Regulatory Authority. The model of average retail prices depends on the type of contract - spot or forward, with the three-year forward contract having the largest weight on the retail price. Therefore, our study shows that long-term contracts significantly impact retail energy prices, highlighting the importance of regulatory monitoring of market strategies. Methodologically, the model is based on a multivariate regression analysis solved with the least absolute deviations and data for the period 2012 to 2023. The findings of the study contribute to a better understanding of the complexity of the dynamics of energy prices and support policymakers while attempting to ensure energy affordability and sustainability.

Klíčová slova

retail energy prices, energy regulation, least absolute deviation, regression

Autoři

PAVLÁKOVÁ DOČEKALOVÁ, M.; LUŇÁČEK, J.; RADIL, L.; BALCERZAK, A.; MELUZÍN, T.; ŁAPIŃSKA, J.; ZINECKER, M.

Vydáno

11. 11. 2024

Nakladatel

Acta Montanistica Slovaca

Místo

Košice

ISSN

1335-1788

Periodikum

Acta Montanistica Slovaca

Ročník

29

Číslo

2

Stát

Slovenská republika

Strany od

332

Strany do

342

Strany počet

11

URL

https://actamont.tuke.sk/pdf/2024/n2/8pavlakova.pdf

BibTex

@article{BUT191150,
  author="Marie {Pavláková Dočekalová} and Jiří {Luňáček} and Lukáš {Radil} and Adam Przemyslaw {Balcerzak} and Tomáš {Meluzín} and Justyna {Łapińska} and Marek {Zinecker}",
  title="Determinants of the Relationship between Wholesale and Retail Energy Prices in the Czech Republic",
  journal="Acta Montanistica Slovaca",
  year="2024",
  volume="29",
  number="2",
  pages="332--342",
  doi="10.46544/AMS.v29i2.08",
  issn="1335-1788",
  url="https://actamont.tuke.sk/pdf/2024/n2/8pavlakova.pdf"
}