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prof. Ing. Oldřich Starý, CSc.

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Electric vehicles as facilitators of grid stability and flexibility: A multidisciplinary overview

  • DOI: 10.1002/wene.536
  • Link: https://doi.org/10.1002/wene.536
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    Electric vehicles (EVs), as facilitators of grid stability and flexibility, provide a critical solution to the energy infrastructure's evolving demands, underscored by the growing integration of renewable energy sources (RES) and the rapid increase in EV adoption worldwide. This trend is particularly evident in Europe which is experiencing dramatic increases in both the adoption of RES and EVs. Vehicle-to-grid (V2G) technology allows EVs to operate as a two-way power flow to both draw and feed electricity into the grid. This multidisciplinary overview examines the role of V2G systems in enhancing grid performance, identifying corporate vehicle fleets as key flexibility providers, and integration with Smart Grid technologies as a key element for successful V2G implementation. In a scoping analysis of recent literature (2005–2024), we identify challenges such as privacy, security, and regulatory compliance as well as a critical gap in establishing economically sustainable models for aggregators, distribution system operators (DSOs), generation companies (GENCOs), and end-users. Drawing from these insights, we then discuss the necessity for future research to develop models that ensure equitable benefits across stakeholders and the importance of models that can adapt to country-specific mechanisms. The findings from our overview argue that the integration of EVs, V2G, and RES are essential components for developing future energy systems that are resilient, adaptable, decarbonized, and sustainable.

Modelling the impact of business risk on the competitiveness of purpose-grown biomass of annual and perennial crops

  • DOI: 10.1016/j.rser.2024.114707
  • Link: https://doi.org/10.1016/j.rser.2024.114707
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    Perennial energy crops compete with conventional annual crops in land-use. The production price of biomass from perennial energy crops is thus derived on the basis of the opportunity cost principle. This means that in deciding whether to grow perennial energy crops, the farmer will demand a price for biomass that will at least provide him with the same economic effect over the lifetime of the plantation in the form of the present value of net cash flows over the lifetime of the energy crop plantation. The level of discounts used to discount the cash flows associated with (annual) conventional crops and perennial energy crops plays an important role in modelling the biomass production price. The business risk associated with the two types of crops is different, with generally higher risk associated with perennial energy crops. This study focuses on developing a methodology to incorporate the risk associated with growing conventional and energy crops and to derive the discount rate for both crop groups. The methodology is demonstrated using the example of the Czech Republic and the price level in 2021. The analysis using Czech data led to a discount rate of 8.5 % for conventional crops and 11.5 % for perennial energy crops. The increase in the discount value for perennial energy crops leads to an increase in the expected biomass sales price by a producer. The sensitivity of the biomass production price level to an increase in the discount rate is lower for Miscanthus plantations compared to short rotation coppice.

Towards Using Machine Learning to Generatively Simulate EV Charging in Urban Areas

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    This study addresses the challenge of predicting electric vehicle (EV) charging profiles in urban locations with limited data. Utilizing a neural network architecture, we aim to uncover latent charging profiles influenced by spatio-temporal factors. Our model focuses on peak power demand and daily load shapes, providing insights into charging behavior. Our results indicate significant impacts from the type of Basic Administrative Units on predicted load curves, which contributes to the understanding and optimization of EV charging infrastructure in urban settings and allows Distribution System Operators (DSO) to more efficiently plan EV charging infrastructure expansion.

Investigation of the influence of the mode of heat treatment of the initial powder on the efficiency of sintering zirconium ceramics by dilatometry

  • Authors: Shevelev, S., Sheveleva, E., prof. Ing. Oldřich Starý, CSc.,
  • Publication: BULLETIN OF THE UNIVERSITY OF KARAGANDA-PHYSICS. 2021, 3(103), 17-24. ISSN 2518-7198.
  • Year: 2021
  • DOI: 10.31489/2021Ph3/17-24
  • Link: https://doi.org/10.31489/2021Ph3/17-24
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    Using methods of synchronous thermal and X-ray structural analyzes applied to zirconium dioxide powders partially stabilized with yttrium obtained by chemical coprecipitation the processes of dehydration of these powders during annealing in air have been investigated. Using the dilatometry method, the regularities of compaction of powder compacts have been investigated with thermal sintering. It was found that the resulting powders mainly consist of the tetragonal modification zirconium dioxide and are nano-sized. The average particle size was 25 nm. The resulting powders are characterized by a high degree of agglomeration. It is shown that an increase in the thermal annealing temperature from 500 to 700 degrees C leads to partial baking of individual particles inside the agglomerate, and causes the formation of hard agglomerates, the presence of which complicates the processes of compaction and subsequent sintering. The presence of such agglomerates prevents the production of ceramics with high mechanical characteristics: density and porosity. Thermal annealing temperature increase leads to a decrease in the density of the sintered ceramic and a decrease in its hardness.

Laboratory model of microwave hyperspectrometer for internal radiation researches of layered natural mediums

  • Authors: Ubaychin, A., Surzhikov, A. P., prof. Ing. Oldřich Starý, CSc., Khassenov, A. K.
  • Publication: BULLETIN OF THE UNIVERSITY OF KARAGANDA-PHYSICS. 2020, 1(97), 97-104. ISSN 2518-7198.
  • Year: 2020
  • DOI: 10.31489/2020Ph1/97-104
  • Link: https://doi.org/10.31489/2020Ph1/97-104
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    This paper describes an achieved result in designing of the four-receiver microwave hyperspectrometer based on zero measurement method and the multi-receiver concept of realization. The block diagrams of the microwave front-end with operating frequency band from 18 to 26.5 GHz, the radiometric receiver, and the frequency transmission module are shown. The technical implementation of every described blocks of the microwave hyperspectrometer are described. Presented technical implementation includes a list of modern components are used to designing of laboratory model of hyperspectrometer. The detailed block diagram of the microwave front-end is presented. Description of main technical characteristics of parts of the microwave front-end is also presented. The analysis of a technical characteristics influence to measurement errors is shown. The mathematical model of a measurement error calculation in hyperspectral modeis described. The influence of the active reference noise generator temperature accuracy, the directional coupler insertion loss and the passive reference noise generator temperature accuracy to a measurement errors are described. A numerical experimental results of designed mathematical model are presented. The dependence of the minimum value of measurement errors form the temperature of passive noise generator is presented.

Spectroscopy of nanoscale crystalline structural elements

  • Authors: Borodin, Y., Sysolov, K., Rande, V. R., Vavilova, G. V., prof. Ing. Oldřich Starý, CSc.,
  • Publication: BULLETIN OF THE UNIVERSITY OF KARAGANDA-PHYSICS. 2020, 3(99), 46-53. ISSN 2518-7198.
  • Year: 2020
  • DOI: 10.31489/2020Ph3/46-53
  • Link: https://doi.org/10.31489/2020Ph3/46-53
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The study of structural elements, nanoparticles, microblocks and other nanoscale objects was an important part of the study of crystals non-equilibrium properties. The behavior of nanoscale structures allows us to judge the dynamics of the crystal lattice during doping, deformation, and interactions with radiation. Along with x-ray and electron microscopic studies, optical methods for determining the size of nanoscale objects, the energy of their electrons, and the symmetry of electronic States are increasingly being used. Among nanoscale objects, proton-separated structural elements (PSE) attract special attention in connection with the development of crystal structure block-hierarchical (BH) model. In this paper, we consider the possibility of calculating the size of PSE crystals in a model of quantum-dimensional structures. According to this model except values of the crystal potential in PSE, you should consider the area of high electron density, the existence of which is beyond the scope of conventional theory. Experimental data allow us to determine the position of this zone as localized around the atomic core of the PSE. Note that the atomic backbone generally coincides with the unit cell, that is, it consists of the same number of atoms and has the same point symmetry group.

The proposal strategy to increase the quality and inclusion in education, its internationalization and modernization of administrative processes for The National Technical University of Ukra

  • Department: Department of Economics, Management and Humanities, Department of Electromagnetic Field, Department of Microelectronics
  • Annotation:
    The present proposal was developed in the frame of the project Strengthening capacities of the National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute” in the field of quality and inclusion in education, internationalization and support of cooperation supported by the project of the Ministry of Foreign Affairs of the Czech Republic “Strengthening the capacity of public universities in developing countries”. It is focused on the development of a conceptual strategy and the transfer of Czech know-how in the field of quality and inclusion of the educational process, its management and internationalization.

The selection criteria elements of X-ray optics system

  • Authors: Plotnikova, I. V., Chicherina, N. V., Bays, S. S., Bildanov, R. G., prof. Ing. Oldřich Starý, CSc.,
  • Publication: 6TH INTERNATIONAL CONFERENCE: MODERN TECHNOLOGIES FOR NON-DESTRUCTIVE TESTING. Bristol: IOP Publishing Ltd, 2018. ISSN 1757-8981.
  • Year: 2018
  • DOI: 10.1088/1757-899X/289/1/012029
  • Link: https://doi.org/10.1088/1757-899X/289/1/012029
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    At the design of new modifications of x-ray tomography there are difficulties in the right choice of elements of X-ray optical system. Now this problem is solved by practical consideration, selection of values of the corresponding parameters - tension on an x-ray tube taking into account the thickness and type of the studied material. For reduction of time and labor input of design it is necessary to create the criteria of the choice, to determine key parameters and characteristics of elements. In the article two main elements of X-ray optical system - an x-ray tube and the detector of x-ray radiation - are considered. Criteria of the choice of elements, their key characteristics, the main dependences of parameters, quality indicators and also recommendations according to the choice of elements of x-ray systems are received.

Electricity Markets Integrations – What is the Current Status and Future Outlook of Bidding Zones Reconfiguration?

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The aim of this paper is to summarize the current status of the EU Electricity Market Integration, especially address the highly discuss issue of Bidding Zones Reconfiguration, analyse proposed criteria for the potential reconfiguration and also discuss possible future development.

How to identify a critical situation of the power system by analyzing the activation energy regulators

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The aim of this work is to identify and describe changes in the ability to secure the stability of the power system from the perspective of activated secondary control reserve . Secondary control must react quickly to the imbalance between current production and consumption of electricity. In order to regulate the deviation and prevent the risk of blackouts, it is necessary to have enough disposable electricity system performance.

Value Perception in the Ultimatum Game: A Blinded Randomized Trial

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    In a blinded, randomized Ultimatum game we study the decision rates using two different reward systems. We discuss the individual value perception and explain why we decided to test a non-monetary reward against the standard low stake monetary reward. We demonstrate that the value sys-tems based on two different, inconvertible currencies lead to different deci-sion rates in the same population. We provide the details of our single blind randomized protocol and discuss other protocol modifications designed to demonstrate the variability of the offer and / or response rates in the Ulti-matum games. We provide our concept of rational, non-rational and irra-tional components contributing to the decision making process in different accord depending on the individual perception of the reward value and confront our experimental findings with the key assumptions provided by other authors.

Innovative default prediction approach

  • DOI: 10.1016/j.eswa.2015.04.053
  • Link: https://doi.org/10.1016/j.eswa.2015.04.053
  • Department: Department of Economics, Management and Humanities, Department of Cybernetics
  • Annotation:
    This paper introduces a new scoring method for company default prediction. The method is based on a modified magic square (a spider diagram with four perpendicular axes) which is used to evaluate economic performance of a country. The evaluation is quantified by the area of a polygon, whose vertices are points lying on the axes. The axes represent economic indicators having significant importance for an economic performance evaluation. The proposed method deals with magic square limitations; e.g. an axis zero point not placed in the axes origins,, and extends its usage for an arbitrary (higher than 3) number of variables. This approach is applied on corporations to evaluate their economic performance and identify the companies suspected to default.

New approach to brown coal pricing using internal rate of return methodology

  • DOI: 10.1016/j.apenergy.2014.07.082
  • Link: https://doi.org/10.1016/j.apenergy.2014.07.082
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    Brown coal is one of the dominant local strategic raw materials in Europe, used, to a large extent, in the power-generating industry. The current situation, where the price of gas and electricity precludes the efficient use of gas sources, leads to the extraction of older sources, chiefly brown coal ones. In tandem with a turning away from nuclear power, brown coal is experiencing a renaissance and the issue of brown coal price setting is, and will be, relevant. This paper deals with a proposal of a new method for determining the base price, consisting of defining the reference fuel chain for electricity and heat production based on brown coal. It builds on the notion that the degree of risk of the involved parties should be reflected in the modified amount of revenue per capital invested. The resulting price is then an economically justified price which encourages a respect for the specific features of the market in question and set the base price of the commodity in a way that is acceptable for both the extractive and the productive components of the fuel chain.

Radioactive waste disposal fees-Methodology for calculation

  • DOI: 10.1016/j.radphyschem.2014.02.008
  • Link: https://doi.org/10.1016/j.radphyschem.2014.02.008
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    This paper summarizes the methodological approach used for calculation of fee for low and intermediate level radioactive waste disposal and for spent fuel disposal. The methodology itself is based on simulation of cash flows related to the operation of system for waste disposal. The paper includes demonstration of methodology application on the conditions of the Czech Republic.

Regulation of District Heating

Smart Bankruptcy Prediction Modelling

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    This paper is covering the innovative approach of bankruptcy prediction modeling. The main idea is using modified spider diagram in assessing company conditions and providing regression analysis over this assessment.

Impacts of Smart Grid Concept on Energy Industry

  • Authors: Adamec, M., Pavlátka, P., Kloubec, M., prof. Ing. Oldřich Starý, CSc.,
  • Publication: Technology and Investment. 2013, 4(3), 179-189. ISSN 2150-4059.
  • Year: 2013
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    Smart grid (SG) is a term that has recently become widely discussed along with the boom of renewable resources (RES-E) and with brand new approach to energy industry, e.g. in . Such phenomena are results from CO2 emissions mitigation and fight against global climate change. Most of the RES-Es work on principles that do not enable the control of their generation. This fact impacts massively on the electricity grid. It is publicly known that the relatively massive development of non-manageable resources, along with the long-term increasing of energy demand, puts higher and higher requirements on the transmission system‘s transport capacity. This problem becomes more visible e.g., with future plug-in electric vehicles (PEV) or local renewables (RES-E) expansion. Task for today’s engineers is to solve the sustainability of energy industry. The smart grid concept provides one possible way. Our paper therefore discusses main aspects of SG implementation, which are not often publicly discussed. Our paper describes SG concept that compiles with approach to the decentralized power industry, together with nodal prices occurrence. The local congestions in the grid as well as growing amount of consumption (connected with electric vehicles expansion) and local micro-generation can result in the price nodality. Therefore electricity price can differ according to local conditions from price in global grid. The mathematical description of conditions that influences grid nodality follows. In the end of the manuscript, the new way of electricity pricing is proposed

Investment Modeling Using Real Options Approach

PREDICTING THE PRICES OF ELECTRICITY DERIVATIVES ON THE ENERGY EXCHANGE

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    There is a need to focus on electricity derivatives trading, because this is an important and expanding field. The aim of this paper is the long-term forecasting of the daily futures prices. For this were used two approaches and these are the use of spot prices forecasting to model the future prices and the second is to forecast future prices directly. We will show on the EEX case of study that better results can be achieved by the first approach, where we use mean-reverting, jump-diffusion and regime-switching models for spot prices forecasting. The best results of the spot price forecasting are achieved by the jump-diffusion model, where we will present the benefit of usage of filtrated calibration data.

Costs and Benefits of Smart Grids on Liberalized Markets

  • Authors: Adamec, M., Pavlátka, P., prof. Ing. Oldřich Starý, CSc.,
  • Publication: Journal of Electronic Science and Technology. 2012, 10(1), 22-28. ISSN 1674-862X.
  • Year: 2012
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The discussion about Smart grid (SG) implementation is mostly focused on pilot projects. These projects are necessary for mapping of particular technical devices of advanced metering management (AMM) which is needed for successful SG and whole functional SG system operation. According to our opinion, for the next step of SG implementation, the participation of effective market design would be quite necessary. In other words pilot project which is operated regardless to the market conditions and special SG tariff is incomplete and could be irrelevant for further evaluation of feasibility. With regard to above mentioned facts, the detailed cost-benefit-analysis (CBA) is needed to establish the correct methodology for evaluation of SG implementation effectiveness. Such aspects are mentioned and discussed in this paper that summarizes and quantifies particular cost and benefits as well as feedback that occurs as reaction on implementation.

Costs and Benefits of Smart Grids and Accumulation in Czech Distribution System

  • Authors: Adamec, M., Pavlátka, P., prof. Ing. Oldřich Starý, CSc.,
  • Publication: Proceedings of 2011 International Conference on Smart Grid and Clean Energy Technologies. Singapore: International Association of Computer Science & Information Technology Press, 2011. pp. 42-46. ISBN 978-981-07-0154-3.
  • Year: 2011
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The discussion about SG implementation is mostly concerning on some pilot projects. These projects are necessary for mapping of particular technical devices which are needed for successful SG and whole functional SG system operation. According to our opinion, for the next step of SG implementation, the participation of effective market scheme implementation would be quite necessary. In other words pilot project which is operated regardless to the market conditions and special SG tariff is incomplete and not viable. With regard to abovementioned facts, the detailed cost - benefit analysis (CBA) is needed to establish the correct methodology for evaluation of SG implementation effectiveness. Our article brings such CBA.

Costs and Benefits of Smart Grids and Accumulation in Czech Distribution System

  • DOI: 10.1016/j.egypro.2011.10.011
  • Link: https://doi.org/10.1016/j.egypro.2011.10.011
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    In our opinion, this public debate about Smart Grids (SG) ignores some important aspects of its real implementation. The most important aspect is realistic cost benefit analysis (CBA) which can be seen as a correct methodology for investment efficiency valuation. Our proposed methodology for CBA for SG implementation is mentioned and discussed in this paper. According to our research involvement of brand new customer tariffs show up to be necessary inputs for CBA. It is truth that some pilot projects for mapping of particular technical devices are today in experimental operation. These projects does not use any cpecial smart tariff, which is according to us also incorrect. In other words pilot projects which are operated regardless to the market conditions and smart tariffs are therefore incomplete and not viable. In more detail our paper collects basic information about costs and benefits of SG implementation and these information are utilized by the means of our systematic approach.

Influence of photovoltaics expansion on electricity price

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    Changes in feed-in tarrif for newely connected photovoltaic power plants at the end of the year 2010 changed the epansion of building photovoltaic power plants. Total installed capacity in photovoltaics is at 1.8 GWp. Due to the high production from the photovoltaic power plants in comparison to electricity consumption, we can expect strong impact of photovoltaics on spot electricity prices. Daily changes in weather conditions meaning changes in irradiation will result in high volatility of electricity prices. This will create new trading opportunities for market participants. Together with the high importance of a meteorologist on the trading floor, profound changes in trading strategies of electricity traders must take place, who will have to be prepared for high volumes of undispatchable electricity, which will have to be sold by any cost.

Power Plant Valuation and Investment Decision

  • Authors: Pavlátka, P., prof. Ing. Oldřich Starý, CSc.,
  • Publication: Power Engineering 2011. Bratislava: Slovak University of Technology in Bratislava, 2011. pp. 1-4. ISBN 978-80-89402-40-3.
  • Year: 2011
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    With the introduction of competitive and liberalized electricity markets, power plant investment analysis has become an important issue for electricity companies. The real options theory fits very well into the valuation of power plant investment opportunities due to the operational flexibility and the opportunities to invest in power plants can also be modeled in this way. An base-load power plant can be regarded as a string of forward contracts and peak-load power plant can be regarded as a string of call options on spark spreads. When valuing a power plant value or power plant investment opportunities, we model normally the electricity prices and gas or coal prices separately and calculate the forecasted cash flows with certain heat rates. This reduces to a real options problem with the underlying variable following an Arithmetic Brownian motion process

Real Options in Power Industry

  • Authors: doc. Ing. Július Bemš, Ph.D., prof. Ing. Oldřich Starý, CSc.,
  • Publication: POSTER 2011 - 15th International Student Conference on Electrical Engineering. Praha: České vysoké učení technické v Praze, Fakulta elektrotechnická, 2011, pp. 1-8. ISBN 978-80-01-04806-1. Available from: http://radio.feld.cvut.cz/conf/poster2011/
  • Year: 2011
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    This paper compares standard appraisal methods to method based on real options theory. It also extends standard methods by real option theory to achieve complex project valuation in highly volatile economic environment.

SOLAR BOOM IN CZECH REPUBLIC IN RELATION TO ELECTRICITY PRICES

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    This paper explains impacts of photovoltaic power plants on electricity price. The boom of building-up of a new photovoltaic power plants peaked by the end of the year 2010 due to the changes in state guaranteed funding scheme. Total installed capacity in photovoltaics is estimated at 2 200 MWp. Due to the high production from the photovoltaic power plants in comparison to electricity consumption, we can expect strong impact of photovoltaics on spot electricity prices. Daily changes in weather conditions meaning changes in irradiation will result in high volatility of electricity prices. This will create new trading opportunities for market participants. Together with the high importance of a meteorologist on the trading floor, profound changes in trading strategies of electricity traders must take place, who will have to be prepared for high volumes of undispatchable electricity, which will have to be sold by any cost.

Supply Curves for Ancillary Services for Planning

  • Authors: Ing. Martin Beneš, Ph.D., prof. Ing. Oldřich Starý, CSc., Vastl, J.
  • Publication: The 4th International Multi-Conference on Engineering and Technological Innovation. Orlando: International Institute of Informatics and Systemics (IIIS), 2011. pp. 150-154. ISBN 978-1-936338-35-1.
  • Year: 2011
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The paper describes the results of technical study demanded by the Czech System Operator. The main goal of the study was an improvement of medium term planning process of ancillary services purchasing. The market with these services was quite volatile in the past several years and system operator had major problems with cost planning and budgeting. A substantial volume of the services is bought in advance, usually in three-year period. The important aspect of decision process is whether the current price is a bargain, or whether it is better to wait for more favorable price in the future.

Who Will Obtain Benefits From Smart Grids Implementation - Cost Benefit Analysis

  • Authors: Adamec, M., prof. Ing. Oldřich Starý, CSc.,
  • Publication: Power Engineering 2011. Bratislava: Slovak University of Technology in Bratislava, 2011. pp. 1-6. ISBN 978-80-89402-40-3.
  • Year: 2011
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The discussion about SG implementation is mostly concerning on some pilot projects. These projects are necessary for mapping of particular technical devices that are needed for successful SG and whole functional SG system operation. According to our opinion, for the next step of SG implementation, the participation of trader would be necessary. In other words pilot project which is operated regardless to the trader is according to our opinion from economical point of view incomplete. In addition the SG would establish very important environment for better RES-E integration. Cost Benefit Analysis of the real SG implementation, investment efficiency valuation and methods of trader introduction (e.g. by the means of tariffs) seem to be necessary for real economical impact valuation. These list of real costs, benefits and ways of economic effectiveness valuation are mentioned and discussed in this paper.

Opponent Statement - Connecting of RES to ES of CR

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The statement deals with both economic and technical impacts of the connection of new renewable energy sources to the electric system of CR caused by the support granted to these sources in CR.

Real Options as an Instrument for Electricity Smart Technologies Evaluation

  • Authors: Adamec, M., Pavlátka, P., prof. Ing. Oldřich Starý, CSc.,
  • Publication: Energy Economy, Policies and Supply Security: Surviving the Global Economic Crisis. Cleveland: IAEE, 2010. pp. 431-432. ISSN 1559-792X.
  • Year: 2010
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The transformation of power industry needs implementation of lots of new and modern smart technologies that are mostly very expensive and often not competitive without any subsidies. In addition very little experience with these technologies represents risk, because after massive investment of some technologies the results (economic benefits) follow with delay of many years. Therefore any implementation must be based on exhaustive survey of all possibilities and ways of market participant motivation. All macro economical cost must be also mentioned. This implementation can not threaten a competitiveness of economics, where it would be conducted.

Smart Technologies Implementation into the Energy Industry

  • Authors: Adamec, M., prof. Ing. Oldřich Starý, CSc.,
  • Publication: The Future of Energy: Global Challenges, Diverse Solutions. Cleveland: IAEE, 2010. ISSN 1559-792X.
  • Year: 2010
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The paper is very short introduction into, brand new smart technologies that seem to be useful in the electric power sector. The first part of the article answers the question why should be the smart technologies implemented into the electric power sector. In addition a short list of the most important smart technologies is mentioned. The second part of the article is about basic ideas and principles of economic motivation. This motivation is explained like the necessity for successful implementation of the new smart technologies, in the electric power sector. Without right motivation these new technologies wouldn´t be able to compete with classical technology on the European, partly liberalized market

Valuation of option premiums in electricity market

  • Authors: Pavlátka, P., prof. Ing. Oldřich Starý, CSc.,
  • Publication: The Future of Energy: Global Challenges, Diverse Solutions. Cleveland: IAEE, 2010. ISSN 1559-792X.
  • Year: 2010
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    Despite the high volatility of electricity prices, there is still little demand for electricity power options and liquidity on the power exchanges of these power derivatives is quite low. One of the reasons is the uncertainty about how to evaluate these electricity options and about finding the right fair value of this product. Hedging of electricity is associated mainly with products as futures and forwards. But due to new trends in electricity trading and hedging, there is also useful to think more about options and the principles how to work with them in hedging of portfolio different positions and counterparties. We can solve quite often situation when we need to have perfect hedge of our customers (end user consuming electricity) portfolio or we have to evaluate volumetric risk (disability of customer to predict consumption, which is very similar with selling options. Now comes the moment to compare effects of using options or futures to hedge this open positions.

Valuation of Renewable Electricity Sources Load Diagram

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The renewable energy sources (RES) cannot be operated with sufficient return for investor without some kind of economic support in current conditions in the Czech Republic. The support is set up with regard to the market value of electricity generated by RES. The method of calculation this value of electricity is described further.

Can Electricity from Bioethanol be Produced in the Czech Republic?

Economic Risk in PPP Energy Projects

  • Authors: Ing. Martin Beneš, Ph.D., prof. Ing. Oldřich Starý, CSc.,
  • Publication: Energy, Policies and Technologies for Sustainable Economies - WEB. Cleveland: IAEE, 2009, pp. 1-9. Available from: http://www.aaee.at/2009-IAEE/uploads/fullpaper_iaee09/P_421_Benes_Martin_2-Sep-2009,%2010:00.pdf
  • Year: 2009
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The text is aimed to present the issue that is in the border of theory and practice. The research team was asked by the municipality of city Koprivnice to develop the economic scheme of Public Private Partnership project (PPP project) which deals with the project of centralized heat supply of the centre of the city. The team has faced the problem to evaluate economic comparators. The municipality advantage is risk diversification between public and private part to split the overall risk to the components that each part will manage risk component by their best way. In other words the total risk for customers is minimized. The method of economic valuation of risk is the key factor for decision making process and can highly influence the chosen variant.

Evaluation of Two Projects of Photovoltaic Stations in CR

  • Authors: Vastl, J., prof. Ing. Oldřich Starý, CSc.,
  • Publication: Sistemy elektrosnabgenija s vozobnovlaemim istocnikami energii. Tomsk: Tomsk Politechnic University, 2009, pp. 57-63. ISBN 5-98298-448-5.
  • Year: 2009

Risk Balancing in Public Private Partnership Project

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The crucial point of PPP project success lies in the distribution of risk. The private sector is very good in resistance against some typical types of risk why the public sector is able to handle other types of risk. If the contract between these too subjects distributes risk properly, both sides are able to win. The authors aimed to create such formula for heat price calculation that will balance the risk for heat supplier (concessionaire) and consumers.

Benchmarking of Electrical Distribution Companies

  • Authors: prof. Ing. Oldřich Starý, CSc., Vastl, J.
  • Publication: Elektoenergija - ot polučenija i raspredelenija do effektivnovo ispolzovanija. Tomsk: Tomsk Politechnic University, 2008, pp. 51-54. ISBN 5-98298-208-3.
  • Year: 2008
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The paper describes the results of resurch, where the function of the regulator and economic results of the electrical distributions companies in CR and abroad were studied.

Criterion of efficiency with variable discount rate

Electricity from Bioethanol? Case Study of Czech Republic

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    This kind of source should not be supported by simple tariff but the tariff should be divided in two components. The first component is the current pay for the electric energy generated. The second one is the support of system services delivered by the renewable source.

Exploition of Genetics Algorithms in Market Conditions of Power Sector

Load Diagram Dispatching Using Genetic Algorithm

  • Authors: prof. Ing. Oldřich Starý, CSc., Vastl, J.
  • Publication: Elektoenergija - ot polučenija i raspredelenija do effektivnovo ispolzovanija. Tomsk: Tomsk Politechnic University, 2008, pp. 108-110. ISBN 5-98298-208-3.
  • Year: 2008

Technical and Economic Comparison of Distribution Companies

Electricity Losses Analysis - Prague 2006

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The main goal of the research was to find the simplified procedure to enumerate the electricity losses in the Prague distribution network. The voltage level of 110 kV was studied both for transformers and overhead and cable lines. The first main conclusion during this stage of study was that the calculation for the individual transformer is not corect and the transformers should be agregated within the whole stations. In the second step the dependence of the maximum loss hours against the maximum load use hours was calculated - the correlation analysis was used. Then the correlation formulas were compared with the formulas used in the practice until now. The new formulas have the significant differences and the new formulas were sugested to the Prague distribution company to be used in the calculations.

Financial stability of subjects in energy industry

MARGINAL COST OF FUTURE ELECTRIC ENERGY SOURCES IN CR

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The research team of the department of energy economics was asked to make the calculation of the possible future power stations in the Czech Republic. The team members analyzed both the investment and the operational cost of the following sources: nuclear, hard coal, brown coal, gas - single and combined cycle. The gathering of the future cost was the most important issue of the study. The input costs were used to calculate the aggregated fixed and variable cost of the electricity sources by the economic model. The previously mentioned sources were dispatched to forecasted load diagram and the total electricity cost was calculated with the cooperation of research centre EGU Brno. The cost should be used in Energy Regulatory Office to set the marginal (maximum) electricity prices in the near future. The new energy environmental tax was taken in the account in the calculation and the influence of the tax to the total marginal cost was analyzed. The final costs and diagrams are presented in the final paper.

Marginal cost of future energy plants in CR

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The team members analyzed both the investment and the operational cost of the following sources: nuclear, hard coal, brown coal, gas - single and combined cycle. The input costs were used to calculate the aggregated fixed and variable cost of the electricity sources by the economic model. The previously mentioned sources were dispatched to forecasted load diagram and the total electricity cost was calculated with the cooperation of research centre EGÚ Brno. The cost should be used in Energy Regulatory Office to set the marginal (maximum) electricity prices in the near future. The final costs and diagrams are presented in the final paper.

Methodology of Decision Making of Variable Discount Rate System Development

Setting Discount Rate for Green Bonus Calculation - Case Example of the Czech Republic

Feeding Tariffs and Green Bonuses for Electricity from RES

Support Scheme for Green Electricity in the Czech Republic

Market Price of Electricity from Independent Producers

Real Options and Electric Companies under Liberalized Environment

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    The paper describes economic models for appraisal of the development of transmission and distribution systems, electricity pricing from the power generation to final consumption under currently established liberalized environment.

7th International Student Conference on Electrical Engineering POSTER 2003

Application Of Soft Computing Techniques to Classification Of Licensed Subjects

  • Authors: Kubalík, J., Jiřina, M., prof. Ing. Oldřich Starý, CSc., Lhotská, L., Suchý, J.
  • Publication: Emerging Solutions for Future Manufacturing Systems. New York: Springer, 2004. pp. 481-488. ISBN 0-387-22828-4.
  • Year: 2004
  • Department: Department of Economics, Management and Humanities
  • Annotation:
    This paper presents an application of soft computing techniques to the construction of decision support tool used for identifying the economically unstable licensed subjects. The work has been initiated by the Czech Energy Regulatory Office whose main mission is to guard the regular heat supply without significant disturbances. Thus the main goal is to develop a tool for automatic identification of the companies that could cancel the supply due to economic problems without detailed examination of each company. In order to achieve the goal two approaches have been chosen. The first one is based on development of an aggregate evaluation criterion for assessing the firms. The other one uses artificial neural networks and multivariate decision trees induced with genetic programming for classification of the firms.

Can Real Option Help to Renewable Energy Sources Development?

Energy Policy through the Eyes of Academia

Investment planning in electric networks and real options

FELAPO 2003 - Meeting of the Electric Engineering Faculties Management

Investment Planning in Electric Networks and Real Options

Real Option in Power Sector

Real Options

Risk Ranking and Selection of Licensed Subjects

Czech Technical University-Almanach prof. and prof. ass

Economic Appraisal, Real Option and Electricity Pricing under Liberalized Enevironment

Economic Aspects of System of Radioactiwe Waste and Spent Nuclear Fuel

Economic Optimization of Investment in Distribution Firms under Liberalized Environment

Electricity Transit Pricing

  • Authors: prof. Ing. Oldřich Starý, CSc.,
  • Publication: Sborník statí katedry ekonomiky, manažerství a humanitních věd 2002. Praha: A plus, 2002. p. 89-92. ISBN 80-902514-5-5.
  • Year: 2002

Explanation of Terms from Power Engineering Field for Internet Application of Done, s. r. o

Price and Profit in Energy System

Criterion of economic effectiveness of power distribution system development

  • Authors: prof. Ing. Oldřich Starý, CSc.,
  • Publication: Sborník statí k 50. výročí založení fakulty. Praha: A plus, 2001. p. 67-76. ISBN 80-902514-4-7.
  • Year: 2001

Economic Appraisal and Electricity Pricing under Liberalized Environment

Investment Assessment via Real Option

  • Authors: prof. Ing. Oldřich Starý, CSc.,
  • Publication: Proceedings of Scientific Conference (Section Economics and Management). Hanoi: Hanoi University of Technology, 2001, pp. 146-149.
  • Year: 2001

Investment Decisions in Power Industry and Real Options

Selected Terms of Economic Evaluation Methods

Economic effectivity in energetics

Economic evaluation of energy investments

Economic evaluation of energy investments

Electricity Pricing in Case of Independent Power Producers

Pricing of electricity and energy losses in power networks

Funds are door to capital market

Insurance brings reliance

Mortage is not for everybody

Pricing for Independent Producers of Electricity

Savings books are ahead

The Arguments for Completing

What to do with money?

Economical Optimization in Energy Industry

  • Department: Department of Economics, Management and Humanities
  • Annotation:
    Economical calculations for purpose of economical efficiency of business plans in Power Industry - LRMC, Daily Diagram of Load, Specific Revenue, criteria of economical efficiency.

Economical Optimization in Power Industry - software presentation

Financial Management for Managers

  • Authors: prof. Ing. Oldřich Starý, CSc.,
  • Publication: Finanční řízení pro manažery. Vienna: Institute for International Research, 1998, pp. 3-5.
  • Year: 1998

Financial Management for Managers

  • Authors: prof. Ing. Oldřich Starý, CSc.,
  • Publication: Finanční řízení pro manažery. Vienna: Institute for International Research, 1998, pp. 3-5.
  • Year: 1998

Internal Company Pricing of Energy Division Products

Investment clubs - A succesful club of ladies

Power Project Appraisal via Multiobjective Decision Making

Why to pay more?

Cost and Revenue Structure in Distribution Systems

Economic Continuites of Reinforcing the Competiting Environment in Power Systems of the Czech Republic

Power Market and Independent Power Producers

Price Models for Systems Services

The Investor Cash Flow, Investment Evalution and Binded Issues

The Models of the Electricity Power System Organization in the Czech Republic

The Specific Revenues of Power Distribution System Elements

Complex Control of Power System

Optimal Economic and Ecological Dispatching in Power System - Help for Eastern Europe

Responsible person Ing. Mgr. Radovan Suk