Die Produktivitätsentwicklung in der deutschen Stromwirtschaft in langfristiger Perspektive
AbstractIn 2009, Germany adopted a new system of regulating energy networks. The German regulatory commission (Bundesnetzagentur) now imposes price caps (RPI-X) on network charges in order to foster competition between power-supply companies. The price formula needed to calculate these price caps includes a so-called X-factor that quantifies expected productivity growth and inflation. Consequently, the meticulous estimation of the future productivity growth is crucial for the functioning of this form of incentive regulation. The German regulatory commission claims to base their estimates on the historical development of productivity growth in the electricity sector as a whole. To reveal the shortcomings of this approach, we show, first, that, in the second half of the 20th century, productivity growth in the German electricity sector was not constant but varied considerably over time, and, second, that productivity growth in the electricity networks was generally lower than in the electricity sector as a whole. Copyright 2009 die Autoren Journal compilation 2009, Verein für Socialpolitik und Blackwell Publishing Ltd.
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Bibliographic InfoArticle provided by Verein für Socialpolitik in its journal Perspektiven der Wirtschaftspolitik.
Volume (Year): 10 (2009)
Issue (Month): 3 (08)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=1465-6493
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NBER Working Papers
6622, National Bureau of Economic Research, Inc.
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