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Public Procurement of homogeneous goods: Czech Republic case study
Soudek, Jan ; Skuhrovec, Jiří (advisor) ; Hrubý, Zdeněk (referee)
The goal of this thesis is to show that institutional and procedural characteristics are affecting the final price of the public procurement. In order to be able to compare the tenders among each other, only public procurement of homogeneous goods is analyzed. The presented model attempts to explain a variation in final price per one unit as a function of estimated unit price, market price and characteristic of procurement procedure - type of procedure, number of bidders and use of electronic auction. In case of electricity and gas public procurement final price elasticity with respect to the estimated price tents to be higher than such elasticity with respect to the market price. This result suggests high rigidity in public procurement procedures. We show that such ineffectiveness is reduced by using open procedure, electronic auction or attracting more bidders.
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Public Procurement of homogeneous goods: Czech Republic case study
Soudek, Jan ; Skuhrovec, Jiří (advisor) ; Mertlík, Pavel (referee)
The goal of this thesis is to show that institutional and procedural characteristics are affecting the final price of the public procurement. In order to be able to compare the tenders among each other, only public procurement of homogeneous goods is analyzed. The presented model attempts to explain a variation in final price per one unit as a function of estimated unit price, market price and characteristic of procurement procedure - type of procedure, number of bidders and use of electronic auction. In case of electricity and gas public procurement final price elasticity with respect to the estimated price tents to be higher than such elasticity with respect to the market price. This result suggests high rigidity in public procurement procedures. We show that such ineffectiveness is reduced by using open procedure, electronic auction or attracting more bidders. JEL Classification H57, D23, D73, C21 Keywords: public procurement, homogeneous goods, energy markets
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Public Procurement of homogeneous goods: Czech Republic case study
Soudek, Jan ; Skuhrovec, Jiří (advisor) ; Mertlík, Pavel (referee)
The goal of this thesis is to show that institutional and procedural characteristics are affecting the final price of the public procurement. In order to be able to compare the tenders among each other, only public procurement of homogeneous goods is analyzed. The presented model attempts to explain a variation in final price per one unit as a function of estimated unit price, market price and characteristic of procurement procedure - type of procedure, number of bidders and use of electronic auction. In case of electricity and gas public procurement final price elasticity with respect to the estimated price tents to be higher than such elasticity with respect to the market price. This result suggests high rigidity in public procurement procedures. We show that such ineffectiveness is reduced by using open procedure, electronic auction or attracting more bidders. JEL Classification H57, D23, D73, C21 Keywords: public procurement, homogeneous goods, energy markets
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Public Procurement of homogeneous goods: Czech Republic case study
Soudek, Jan ; Skuhrovec, Jiří (advisor) ; Hrubý, Zdeněk (referee)
The goal of this thesis is to show that institutional and procedural characteristics are affecting the final price of the public procurement. In order to be able to compare the tenders among each other, only public procurement of homogeneous goods is analyzed. The presented model attempts to explain a variation in final price per one unit as a function of estimated unit price, market price and characteristic of procurement procedure - type of procedure, number of bidders and use of electronic auction. In case of electricity and gas public procurement final price elasticity with respect to the estimated price tents to be higher than such elasticity with respect to the market price. This result suggests high rigidity in public procurement procedures. We show that such ineffectiveness is reduced by using open procedure, electronic auction or attracting more bidders.
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Day-ahead bidding on energy markets - a basic model and its extension to bidding curve
Branda, Martin
Wind resources energy production is highly influenced by uncertain weather conditions. We provide several simple models for bidding on day-ahead energy markets, which take into account the uncertainty. The obtained optimal bids and bidding curve are based not only on the point prediction, but also on the forecasted distribution of generated energy. We relate the resulting problems to two-stage stochastic programs with simple recourse.
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The construction of the risk surcharges for the imbalances trading on OTE market
Maštalíř, Jakub ; Brada, Jaroslav (advisor) ; Blaheta, Petr (referee)
This master thesis approaches the energy markets from the point of view of an electricity trader acting on the retail markets, in particular an electricity supplier to the end customers. The first part introduces the reader into the basic practices applied in the management process of the portfolio of end customers, which includes metering and evaluation of the real take-off, planning and prediction and, of course, final evaluation of the imbalances. Second part explains the principles of balance management in case of the entire ČEPS electrical grid, mechanics of the imbalances settlement and describes its actual setting with focus on the way it motivates the market participants for minimization of their own imbalances and therefore improvement of the overall electrical grid balance. The final part describes the basic construction of the risk surcharges, which the supplier adds to the commodity price to cover the costs caused by the existence of his end customers' imbalances. Furthermore, it is shown how the dependence on the system imbalance influences the size of the risk surcharge and the basic model is extended to include even this factor. Because the supplier does not set the surcharge at the level of individual end customer but for the entire portfolio, the functioning and power of the portfolio effect, which brings an extra savings in the imbalances settlement costs, is also explored in the final part. The possibility of dependence presence in the imbalances of individual end customers is also accounted for. For the first time in the Czech academic literature the economic problems that are faced by the electricity supplier to the end customers are examined and the analysis and solution of one important problem is provided in the full picture. However, the most important contribution of this master thesis lays in the opening of this topic to further examination on the academic ground.
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Determinants influencing electricity prices
Plšíková, Kristína ; Buus, Tomáš (advisor) ; Krejcar, Rostislav (referee)
The aim of this work is to characterize the main determinants influencing the development of electricity prices. Beginnings are dedicated to the description of regulated elements of electricity bill and their development over the last period. The second part deals with power electricity and its development in the spot and futures market. The paper describes the emergence of energy prices on the market and the main determinants affecting the supply and demand curves, such as the price of emission allowances, increasing production from renewable energy and the price of energy raw materials. Part of the work is also analysis of the impact of market coupling on the market price of electricity daily market. The conclusion is devoted to seasonal fluctuations in electricity prices representing the time series.
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