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

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dc.contributor.authorPavláková Dočekalová, Mariecs
dc.contributor.authorLuňáček, Jiřícs
dc.contributor.authorRadil, Lukášcs
dc.contributor.authorBalcerzak, Adam Przemyslawcs
dc.contributor.authorMeluzín, Tomášcs
dc.contributor.authorŁapińska, Justynacs
dc.contributor.authorZinecker, Marekcs
dc.coverage.issue2cs
dc.coverage.volume29cs
dc.date.accessioned2025-04-08T10:55:53Z
dc.date.available2025-04-08T10:55:53Z
dc.date.issued2024-11-11cs
dc.description.abstractRising 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.en
dc.formattextcs
dc.format.extent332-342cs
dc.format.mimetypeapplication/pdfcs
dc.identifier.citationActa Montanistica Slovaca. 2024, vol. 29, issue 2, p. 332-342.en
dc.identifier.doi10.46544/AMS.v29i2.08cs
dc.identifier.issn1335-1788cs
dc.identifier.orcid0000-0003-4628-5075cs
dc.identifier.orcid0000-0002-7492-5685cs
dc.identifier.orcid0000-0002-5837-0317cs
dc.identifier.orcid0000-0001-5238-5166cs
dc.identifier.orcid0000-0003-1764-0904cs
dc.identifier.other191150cs
dc.identifier.researcheridD-9835-2018cs
dc.identifier.researcheridAAL-5760-2021cs
dc.identifier.scopus39861884700cs
dc.identifier.scopus36976830900cs
dc.identifier.urihttps://hdl.handle.net/11012/250845
dc.language.isoencs
dc.publisherActa Montanistica Slovacacs
dc.relation.ispartofActa Montanistica Slovacacs
dc.relation.urihttps://actamont.tuke.sk/pdf/2024/n2/8pavlakova.pdfcs
dc.rightsCreative Commons Attribution 4.0 Internationalcs
dc.rights.accessopenAccesscs
dc.rights.sherpahttp://www.sherpa.ac.uk/romeo/issn/1335-1788/cs
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/cs
dc.subjectretail energy pricesen
dc.subjectenergy regulationen
dc.subjectleast absolute deviationen
dc.subjectregressionen
dc.titleDeterminants of the Relationship between Wholesale and Retail Energy Prices in the Czech Republicen
dc.type.driverarticleen
dc.type.statusPeer-revieweden
dc.type.versionpublishedVersionen
sync.item.dbidVAV-191150en
sync.item.dbtypeVAVen
sync.item.insts2025.04.08 12:55:53en
sync.item.modts2025.04.08 12:33:28en
thesis.grantorVysoké učení technické v Brně. Fakulta podnikatelská. Ústav ekonomikycs
thesis.grantorVysoké učení technické v Brně. Fakulta elektrotechniky a komunikačních technologií. Ústav elektroenergetikycs
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