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DEA and Dynamic Yardstick Competition in Scandinavian Electricity Distribution

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Author Info

  • PER AGRELL

    ()

  • Peter Bogetoft
  • Jørgen Tind

Abstract

Multi-period multi-product regulatory schemes for electricity distributors are presented, based on cost information from a productivity analysis model and an agency theoretical decision model. The proposed schemes are operational and demonstrate considerable advantages compared to the popular CPI-X revenue cap regulation. The schemes avoid arbitrariness, excessively high or negative informational rents as well as ratchet effects and they promote rapid productivity catch-up by making full use of available data. More generally, the paper contributes to the theoretical unification between firm-based Data Envelopment Analysis (DEA) productivity models and micro-economic reimbursement theories. Copyright Springer Science+Business Media, Inc. 2005

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File URL: http://hdl.handle.net/10.1007/s11123-005-1327-6
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Bibliographic Info

Article provided by Springer in its journal Journal of Productivity Analysis.

Volume (Year): 23 (2005)
Issue (Month): 2 (05)
Pages: 173-201

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Handle: RePEc:kap:jproda:v:23:y:2005:i:2:p:173-201

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Web page: http://www.springerlink.com/link.asp?id=100296

Related research

Keywords: planning theory; efficiency analysis; yardstick; CPI-X; regulation;

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  1. Kittelsen, S.A.C., 1993. "Stepwise DEA; Choosing Variables for Measuring Technical Efficiency in Norwegian Electricity Distribution," Memorandum 06/1993, Oslo University, Department of Economics.
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Citations

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Cited by:
  1. AGRELL, Per & BOGETOFT, Peter, 2011. "Smart-grid investments, regulation and organization," CORE Discussion Papers 2011072, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. AGRELL, Per & BOGETOFT, Peter, 2013. "Benchmarking and regulation," CORE Discussion Papers 2013008, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Carlos Pombo & Rodrigo Taborda, 2004. "Perfomance and Efficiency in Colombia's Power Distribution Sistem: Effects of the 1994 Reform," BORRADORES DE INVESTIGACIÓN 006942, UNIVERSIDAD DEL ROSARIO.
  4. Astrid Cullmann & Jürgen Apfelbeck & Christian von Hirschhausen, 2006. "Efficiency Analysis of East European Electricity Distribution in Transition: Legacy of the Past?," Discussion Papers of DIW Berlin 553, DIW Berlin, German Institute for Economic Research.
  5. Po-Chi Chen & Ching-Cheng Chang & Chih-Li Lai, 2014. "Incentive regulation and performance measurement of Taiwan’s incineration plants: an application of the four-stage DEA method," Journal of Productivity Analysis, Springer, vol. 41(2), pages 277-290, April.
  6. Blázquez-Gómez, Leticia & Grifell-Tatjé, Emili, 2011. "Evaluating the regulator: Winners and losers in the regulation of Spanish electricity distribution," Energy Economics, Elsevier, vol. 33(5), pages 807-815, September.
  7. Kuosmanen, Timo, 2012. "Stochastic semi-nonparametric frontier estimation of electricity distribution networks: Application of the StoNED method in the Finnish regulatory model," Energy Economics, Elsevier, vol. 34(6), pages 2189-2199.
  8. Varmaz, Armin & Varwig, Andreas & Poddig, Thorsten, 2013. "Centralized resource planning and Yardstick competition," Omega, Elsevier, vol. 41(1), pages 112-118.
  9. Kuosmanen, Timo & Saastamoinen, Antti & Sipiläinen, Timo, 2013. "What is the best practice for benchmark regulation of electricity distribution? Comparison of DEA, SFA and StoNED methods," Energy Policy, Elsevier, vol. 61(C), pages 740-750.
  10. Agrell, Per J. & Niknazar, Pooria, 2014. "Structural and behavioral robustness in applied best-practice regulation," Socio-Economic Planning Sciences, Elsevier, vol. 48(1), pages 89-103.
  11. Huang, Yi-Ju & Chen, Ku-Hsieh & Yang, Chih-Hai, 2010. "Cost efficiency and optimal scale of electricity distribution firms in Taiwan: An application of metafrontier analysis," Energy Economics, Elsevier, vol. 32(1), pages 15-23, January.

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