Management summary Research study „Price elasticity of the demand for electricity, natural gas and solid fuels in the Czech Republic“
The objective of the research is the estimation of the price elasticity of the demand for electricity, natural gas, and solid fuels in the Czech Republic. For the purpose of the research, seasonally unadjusted quarterly data were used (2003-2018). The estimated results show that electricity consumption is significantly statistically affected by the temperature of outdoor air and the price of natural gas. The estimation of elasticity of demand for natural gas shows the statistical importance of the temperature of outdoor air. The statistical importance of the influence of the price of electricity and natural gas on consumption was not proven. It was not possible to determine the estimates of regression model coefficient, i.e. determine an estimate of the dependence of solid fuel on the explanatory variables of the regression model.
Target groups of stakeholders: Ministry of Industry and Trade CR