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Evaluating the regulator: Winners and losers in the regulation of Spanish electricity distribution

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  • Blázquez-Gómez, Leticia
  • Grifell-Tatjé, Emili
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    Abstract

    The principal aim of this study is to evaluate the regulation of electricity distribution in Spain. To this end, we begin by analyzing whether the changes introduced by the regulator led distribution companies to improve their efficiency; we then address whether the reimbursements paid to the distribution companies are linked to efficiency; lastly, we examine whether consumers benefited from the efficiency improvements. We focus on Spain because the electricity regulator in that country is a longstanding pioneer in the implementation of incentive-based regulatory models. Our analysis was implemented using the regulatory model proposed by Bogetoft (1997) as a benchmark. The results show that the Spanish electricity regulator did not establish a link between efficiency and the reimbursements paid to electricity companies; in addition, the electricity companies benefited to the detriment of consumers.

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    Bibliographic Info

    Article provided by Elsevier in its journal Energy Economics.

    Volume (Year): 33 (2011)
    Issue (Month): 5 (September)
    Pages: 807-815

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    Handle: RePEc:eee:eneeco:v:33:y:2011:i:5:p:807-815

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    Web page: http://www.elsevier.com/locate/eneco

    Related research

    Keywords: Efficiency analysis Regulation by incentives Spanish electricity distribution Yardstick competition;

    References

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    1. Førsund, Finn R. & Kittelsen, Sverre A. C., 1998. "Productivity development of Norwegian electricity distribution utilities," Resource and Energy Economics, Elsevier, vol. 20(3), pages 207-224, September.
    2. Emili Grifell-Tatjé & C. A. Knox Lovell, 2003. "The Managers versus the Consultants," Scandinavian Journal of Economics, Wiley Blackwell, vol. 105(1), pages 119-138, 03.
    3. Leticia Blázquez Gómez & Emili Grifell-Tatjé, 2008. "Multi-Output compensation system in electricity distribution: the case of Spain," Hacienda Pública Española, IEF, vol. 185(2), pages 115-148, July.
    4. Per Andersen & Niels Christian Petersen, 1993. "A Procedure for Ranking Efficient Units in Data Envelopment Analysis," Management Science, INFORMS, vol. 39(10), pages 1261-1264, October.
    5. AGRELL, Per J. & BOGETOFT, Peter & TIND, Jorgen, . "DEA and dynamic yardstick competition in Scandinavian electricity distribution," CORE Discussion Papers RP -1837, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    6. Peter Bogetoft, 2000. "DEA and Activity Planning under Asymmetric Information," Journal of Productivity Analysis, Springer, vol. 13(1), pages 7-48, January.
    7. Christopher R. Knittel, 2002. "Alternative Regulatory Methods And Firm Efficiency: Stochastic Frontier Evidence From The U.S. Electricity Industry," The Review of Economics and Statistics, MIT Press, vol. 84(3), pages 530-540, August.
    8. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November.
    9. Arocena, Pablo & Contin, Ignacio & Huerta, Emilio, 2002. "Price regulation in the Spanish energy sectors: who benefits?," Energy Policy, Elsevier, vol. 30(10), pages 885-895, August.
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    Cited by:
    1. Pedro Linares & Luis Rey, 2012. "The costs of electricity interruptions in Spain. Are we sending the right signals?," Working Papers fa05-2012, Economics for Energy.

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