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Retail electricity price analysis
Chmelař, Šimon ; Zinecker, Marek (referee) ; Radil, Lukáš (advisor)
This thesis focuses on the analysis of electricity retail prices within the Czech Republic. In recent years, spot electricity prices have become a significant topic due to their high volatility, which was caused by market liberalization, geopolitical factors, and the gradual transition to sustainable energy sources. The aim of this work is to create a computational model for estimating the composition of various types of wholesale prices from the retail prices offered by electricity suppliers. The first part of the thesis summarizes the functioning of the wholesale electricity market, its components, and the types of electricity trading. The second part of the thesis focuses on compiling calculations using MATLAB software. By analyzing wholesale prices and prices offered by a certain supplier, it determines whether the supplier has secured at least the minimum part of the estimated consumption of its customers and is thus able to fulfill its obligations.
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PRICE MODELING OF BUILDING PRODUCTION IN THE CRISIS PERIOD
Truska, Adam ; Kocanda,, Pavel (referee) ; Tomek,, Aleš (referee) ; Tuza,, Karel (referee) ; Hromádka, Vít (advisor)
The largest post-war economic crisis, which began spreading to the world in the second half of 2008, hit all sectors negatively. An important lesson from the analysis of the crisis is not its causes, but rather the reference to the drawbacks of globalization, in the form of dismantling the consequences of this crisis. Building industry is a specific branch of the Czech economy, which has responded to the outbreak, the course and the retreat of crisis, in a unique way. Both pre-investment and investment phases of a construction project are time-consuming, resulting in a delayed response - inertia, to changes in the state of the economy that are reflected in aggregate demand from which demand for construction output is derived. The thesis focuses mainly on the development market, where it focuses in detail on evolution of housing construction in the pre-crisis, crisis and post-crisis period. The set of incorrect steps, decisions and inactivity of residential developers caused a unique phenomenon - the house-offer crisis. Therefore, the result of the work is methodological recommendations - a set of steps whose observation should reduce the negative effects of the crisis on the construction industry and avoid the re-emergence of the house-offer crisis. Economic cycles give us two assurances: each growth is followed by fall and vice versa. Nowadays it is not possible to predict the causes of the future crisis or its length, but it is important to prepare for it.
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PRICE MODELING OF BUILDING PRODUCTION IN THE CRISIS PERIOD
Truska, Adam ; Kocanda,, Pavel (referee) ; Tomek,, Aleš (referee) ; Tuza,, Karel (referee) ; Hromádka, Vít (advisor)
The largest post-war economic crisis, which began spreading to the world in the second half of 2008, hit all sectors negatively. An important lesson from the analysis of the crisis is not its causes, but rather the reference to the drawbacks of globalization, in the form of dismantling the consequences of this crisis. Building industry is a specific branch of the Czech economy, which has responded to the outbreak, the course and the retreat of crisis, in a unique way. Both pre-investment and investment phases of a construction project are time-consuming, resulting in a delayed response - inertia, to changes in the state of the economy that are reflected in aggregate demand from which demand for construction output is derived. The thesis focuses mainly on the development market, where it focuses in detail on evolution of housing construction in the pre-crisis, crisis and post-crisis period. The set of incorrect steps, decisions and inactivity of residential developers caused a unique phenomenon - the house-offer crisis. Therefore, the result of the work is methodological recommendations - a set of steps whose observation should reduce the negative effects of the crisis on the construction industry and avoid the re-emergence of the house-offer crisis. Economic cycles give us two assurances: each growth is followed by fall and vice versa. Nowadays it is not possible to predict the causes of the future crisis or its length, but it is important to prepare for it.
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Impact of Czech intraday market on the electricity prices
Béreš, Samuel ; Krištoufek, Ladislav (advisor) ; Valíčková, Petra (referee)
We analyse Czech intraday market for electricity and its impact on day- ahead prices. We inspect effect of fundamental drivers of price deviation between intraday and day-ahead market in form of positive and negative forecast errors and examine intraday price's role in explaining next trading period's day-ahead price. Our findings suggest photovoltaic and load fore- cast errors to be most statistically significant fundamental factors, together with autoregressive term and day-ahead price, determining intraday market price deviation from day-ahead. Variables' influences on intraday market are in accordance with hypothesised expectations, except for the effect of export and excessive import of electricity to and from German TSO, 50 Hertz, and extreme day-ahead prices. We confirmed symmetric effects of forecast errors on intraday price for all observed variables. In the second part, intraday prices are found to be statistically significant factor affecting next day's day-ahead market price. The results support the conclusion that Czech spot market for electricity possesses mean-reverting properties. Keywords electricity, intraday market for electricity, price modeling
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