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The Structure of Electricity Market of the Czech Republic and the Impact of the Legislative Proces on the Market Participants
Kšírl, Jakub ; Kracík, Jiří (advisor) ; Cingl, Lubomír (referee)
The object of this thesis is the electricity market in the Czech Republic and its legislation, specifically the fundamental law of energy legislation i.e. the law no. 458/2000 Coll. (Energy law). The first part is devoted to history and reasons for the establishment of new energy law, its structure and new changes brought by the law. The next part describes the current structure of electricity market, participants in the electricity market and their relationships with each other. The fourth part focuses chronologically on the amendments of the Energy law, their impact on participants of the electricity market and on the powers and duties of state regulators. The last part concentrates on the price of electricity for end users, especially on the regulated part of price and it describes the ancillary market.
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Energy taxation as an environmental policy instrument
Cimrová, Michaela ; Hrubý, Zdeněk (advisor) ; Kracík, Jiří (referee)
The recent trend of the environment protection leads to introduction of new policy instruments to reach given goals. The most effective seem to be incentive-based instruments as taxes on energy products and electricity because they efficiently influence consumer and producer behaviour in order to mitigate energy consumption. This thesis is motivated by increasing requirements of implementing such environmental policy into individual tax systems. Energy taxation increases prices of the products, thus leads to the lower energy consumption and the emission abatement. Moreover, if additional revenues are used to cut existing distorting taxes, other positive effects can be reached. This will be discussed as the question of double dividend hypothesis. In the Czech Republic, the year 2008 denoted an important milestone when new taxes on solid fuels, gas and electricity were introduced as the first phase of ecological tax reform. The trend of introduction of new ecological taxes plays an important role not only for producers and providers but also for households since it brings a few pitfalls in the form of significant price regulation. The effectiveness of energy taxation and its distributional, macroeconomic and social welfare effects will be assessed. The general equilibrium analysis follows to show the major...
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Analysis of German Electricity Market
David, Vojtěch ; Kracík, Jiří (advisor) ; Čornanič, Aleš (referee)
Bachelor thesis analyses situation at electricity market in Germany. It shows historical development of liberalization of monopolist market. Structure of market is investigated. Thesis comments other legislation and its dependency. Granger causality test did not derive any causality between real GDP and electricity consumption. There was used data from 1970 to 2009. Thesis comments environment in point of German view. Thesis predicts next development.
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Renewable energy sources and project evaluation
Tošovský, Prokop ; Dědek, Oldřich (advisor) ; Kracík, Jiří (referee)
Firstly, this paper describes the European and particularly the Czech energy policy that aims to foster projects using renewable energy sources. The different European systems for supporting production of electricity from renewable energy sources are specifically discussed. These systems can be grouped into price-based and market-based systems and the specific rules usually differ from country to country. The Czech Republic uses the price-based system based on feed-in tariffs (green bonuses). The laws which support the production of electricity from renewable energy sources (particularly combined heat and power plants) are mentioned, focusing mainly on the description of the feed-in tariff system currently applied in the Czech Republic. An evaluation of a concrete project, combined heat and power plant using renewable sources of energy (biomass) as fuel, is carried out in the second part of the paper. This practical section uses the theoretical background and information given in the first part of the paper.
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Analysis of transfer mispricing of commodity exports in African countries
Zachar, Martin ; Janský, Petr (advisor) ; Kracík, Jiří (referee)
Governments around the world are burdened by what is estimated to be a $160 billion annual tax loss stemming from transfer mispricing. Developing countries may be even more susceptible to this phenomenon due to their lax reporting and regulatory standards. However, research done to date on transfer mispricing with regards to developing countries is very limited. This paper investigates commodity transactions between selected African countries and the world for 2008-2009, looking for pricing anomalies in both absolute terms and in relation to global mispricing averages. The data was examined using linear regression models, volume-based analysis and case study analyses. While the former two did not find convincing evidence of substantial price distortions, the latter uncovered several anomalies that may point to mispricing. These results point to the fact that transfer mispricing occurring in developing countries is in line with that of the rest of the world.
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The Perspectives and Risks of Electricity Supply in the Czech Republic by 2030
Vinklerová, Tereza ; Průša, Jan (advisor) ; Kracík, Jiří (referee)
The thesis will focus on outlooks of the Czech energy system, especially with respect to supply-demand balance and generation adequacy. The current situation in the electricity market will be used as a starting point for projections of future scenarios. The scenarios will look at possible issues and challenges as well as further developments that the Czech energy system will be facing in the near future. These problems and challenges can be defined as the mid-term and long-term ability to balance supply and demand for electricity in the Czech Republic. The increase in production of electricity from renewable resources and the subsequent loss of flexibility of power sources go hand in hand with adverse economic conditions, together worsening the overall risk in the electricity system. At the same time we must take into account changes in EU energy policy and its effect on member countries, such as the planned shutdown of nuclear power plants in Germany, increased taxation of carbon dioxide production, supported production of electricity from renewable resources, and integration of energy markets. We must consider the harmonization of methods that are used to evaluate the adequacy and security of a production portfolio, known as a generation adequacy, while meeting the requirements of the given system and...
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The Perspectives and Risks of Electricity Supply in the Czech Republic by 2030
Vinklerová, Tereza ; Průša, Jan (advisor) ; Kracík, Jiří (referee)
The thesis will focus on outlooks of the Czech energy system, especially with respect to supply-demand balance and generation adequacy. The current situation in the electricity market will be used as a starting point for projections of future scenarios. The scenarios will look at possible issues and challenges as well as further developments that the Czech energy system will be facing in the near future. These problems and challenges can be defined as the mid-term and long-term ability to balance supply and demand for electricity in the Czech Republic. The increase in production of electricity from renewable resources and the subsequent loss of flexibility of power sources go hand in hand with adverse economic conditions, together worsening the overall risk in the electricity system. At the same time we must take into account changes in EU energy policy and its effect on member countries, such as the planned shutdown of nuclear power plants in Germany, increased taxation of carbon dioxide production, supported production of electricity from renewable resources, and integration of energy markets. We must consider the harmonization of methods that are used to evaluate the adequacy and security of a production portfolio, known as a generation adequacy, while meeting the requirements of the given system and...
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Somewhat cloudy with a chance of sunshine: Analysis of renewable energy generation support schemes
Bízek, Jan ; Ščasný, Milan (advisor) ; Kracík, Jiří (referee)
Support for electricity generation from renewable energy sources is one of measures aimed at switch of European economies from fossil fuels to renewables. In the past a lot of attention was paid to the theoretical assessment of different support schemes, however, analysis of the empirical data on those schemes is somewhat lacking. This thesis analyses assessment of two types of support schemes in three countries on empirical data. The main contribution of this work is (i) expansion of previously used methodology that analyses relationship between investments into electricity generation from renewable energy and the net present value of such investments, and (ii) inclusion of the Czech Republic into the list of observed countries. JEL Classification E61, O31, O33, O38, Q28, Q42 Keywords renewables, RES-E, photovoltaics Author's e-mail jbizek@gmail.com Supervisor's e-mail milan.scasny@czp.cuni.cz
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Commercialization in Microfinance
Švenka, David ; Chytilová, Julie (advisor) ; Kracík, Jiří (referee)
This thesis is focused on commercialization in microfinance. Particularly on one of its possible negative impacts - the mission drift. Microfinance could be described as a useful financial tool that makes it possible to provide banking services, usually small loans and deposits, to rural poor people who live in places where it is hard to access the traditional banking sector. Commercialization of microfinance institutions means that the MFIs seek for commercial ways of funding. This usually happens when, for instance, some of the microfinance NGOs transforms into regulated commercial entity. Mission drift is then a situation when the microfinance institutions (MFIs) commercialize and abandon some of their poorest clients in order to pursuit some non-social goal such as sustainability or profitability. Therefore the MFIs drift from their original mission which is usually to fight the poverty. So far, there has not been conducted a lot of research on this topic. Furthermore, neither the microfinance experts agree with each other about the existence of mission drift. Therefore the main goal of this thesis is to closer inspect the mission drift on data from the MIX database. To do this we have used the regression analysis, combined with analysis of historical performance of the observed MFIs.
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How Migration of Citizens of Selected EU Countries Affects the Level of Their Pension
Kuliková, Veronika ; Hedbávný, Petr (advisor) ; Kracík, Jiří (referee)
This bachelors thesis focuses on the analysis of pension systems in four countries of the European union, namely Germany, Great Britain, Slovak republic and Poland. There is mentioned the basic classification of pension schemes in the first part of the thesis. Next part deals with the description of the pension systems in the four chosen countries. The last part of the thesis describes the case of person in decision making process whether to migrate from one of these countries to another one due to higher financial evaluation and pension benefits, or not.
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