Abstract
In this article, the authors focused on the development of electricity prices on wholesale and retail markets in the Visegrad Four countries (V4). The main goal of the paper is to design an econometric model of predicting spot electricity prices in Slovakia. Therefore, the model of multiple linear regression is used, based on knowledge from the literature and existing studies. The model can be used to predict the possible development of electricity prices depending on several relevant variables - coal prices, gas prices and the share of renewable energy sources. The data were obtained from Eurostat and OECD databases, investment sites, which showed the development of commodity prices on wholesale market, or from power exchanges or a short-term electricity market operator. RStudio software was then used to evaluate created models. The result was price forecasts for further periods, which were also compared with the actual spot prices.
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