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Productivity and Price Performance in the Privatized Water and Sewerage Companies of England and Wales

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Author Info
Saal, David S
Parker, David

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Abstract

After its privatization in 1989, the water and sewerage industry of England and Wales faced a new regulatory regime and implemented a substantial capital investment program aimed at improving water and environmental standards. A new RPI+K regulatory pricing system was designed to compensate the industry for its increased capital costs, encourage increased efficiency, and maintain fair prices for customers. This paper evaluates how successful privatization and the resulting system of economic regulation has been. Estimates of productivity growth, derived with quality adjusted output indices, suggest that despite reductions in labor usage, total factor productivity growth has not improved since privatization. Moreover, total price performance indices reveal that increases in output prices have outstripped increases in input costs, a trend which is largely responsible for the increase in economic profits that has occurred since privatization. Copyright 2001 by Kluwer Academic Publishers

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Publisher Info
Article provided by Springer in its journal Journal of Regulatory Economics.

Volume (Year): 20 (2001)
Issue (Month): 1 (July)
Pages: 61-90
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Handle: RePEc:kap:regeco:v:20:y:2001:i:1:p:61-90

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  1. Goto, Mika & Makhija, Anil K., 2007. "The Impact of Competition and Corporate Structure on Productive Efficiency: The Case of the U.S. Electric Utility Industry, 1990-2004," Working Paper Series 2007-10, Ohio State University, Charles A. Dice Center for Research in Financial Economics. [Downloadable!]
  2. Christian von Hirschhausen & Hannes Weigt, 2007. "Aktive Wettbewerbspolitik für effiziente Elektrizitätserzeugungsmärkte: Instrumente, internationale Erfahrungen und wirtschaftspolitische Schlussfolgerungen," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 76(1), pages 65-86. [Downloadable!] (restricted)
  3. Peter Haug, 2007. "Local Government Control and Efficiency of the Water Industry: An Empirical Analysis of Water Suppliers in East Germany," IWH Discussion Papers 3-07, Halle Institute for Economic Research. [Downloadable!]
  4. Anna Bottasso & Maurizio Conti, 2003. "Cost Inefficiency in the English and Welsh Water Industry: An Heteroskedastic Stochastic Cost Frontier Approach," Economics Discussion Papers 573, University of Essex, Department of Economics. [Downloadable!]
  5. Parker, David, 2004. "The UK's Privatisation Experiment: The Passage of Time Permits a Sober Assessment," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  6. Çaðla Ökten, 2005. "The Effects of Privatization on Efficiency : How Does Privatization Work?," Departmental Working Papers 0504, Bilkent University, Department of Economics. [Downloadable!]
  7. Helene Bouscasse & François Destandau & Serge Garcia, 2008. "Analyse économétrique des coûts des services d’eau potable et qualité des prestations offertes aux usagers," Working Papers - Cahiers du LEF 2008-02, Laboratoire d'Economie Forestiere, AgroParisTech-INRA. [Downloadable!]
  8. Céline Nauges & Caroline Berg, 2008. "Economies of density, scale and scope in the water supply and sewerage sector: a study of four developing and transition economies," Journal of Regulatory Economics, Springer, vol. 34(2), pages 144-163, October. [Downloadable!] (restricted)
  9. Andrés J. Picazo-Tadeo & Francisco J. Sáez-Fernández & Francisco González-Gómez, 2007. "Does Service Quality Matter In Measuring Performance Of Water Utilities?," FEG Working Paper Series 07/04, Faculty of Economics and Business (University of Granada). [Downloadable!]
  10. Balázs Égert, & László Halpern & Ronald MacDonald, 2005. "Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues," William Davidson Institute Working Papers Series wp793, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
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  11. Chen Lin & Sanford Berg, 2008. "Incorporating Service Quality into Yardstick Regulation: An Application to the Peru Water Sector," Review of Industrial Organization, Springer, vol. 32(1), pages 53-75, February. [Downloadable!] (restricted)
  12. Égert, Balázs, 2004. "Assessing equilibrium exchange rates in CEE acceding countries: Can we have DEER with BEER without FEER? A critical survey of the literature," BOFIT Discussion Papers 1/2004, Bank of Finland, Institute for Economies in Transition. [Downloadable!]
  13. Zhang, Yin-Fang & Kirkpatrick, Colin & Parker, David, 2002. "Electricity Sector Reform in Developing Countries: An Econometric Assessment of the Effects of Privatisation, Competition and Regulation," Centre on Regulation and Competition (CRC) Working papers 30593, University of Manchester, Institute for Development Policy and Management (IDPM). [Downloadable!]
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  14. Månsson, Jonas & Salas, Osvaldo, 2006. "Productivity development and privatisation of the potable water and sewage sector in Chile," CAFO Working Papers 2006:5, Centre for Labour Market Policy Research (CAFO), School of Management and Economics, Växjö University. [Downloadable!]
  15. J. Robert Branston & Roger Sugden & Pedro Valdez & James Wilson, 2006. "Generating Participation and Democracy: An Illustration from Electricity Reform in Mexico," International Review of Applied Economics, Taylor and Francis Journals, vol. 20(1), pages 47-68, January. [Downloadable!] (restricted)
  16. Andres, Luis & Foster, Vivien & Guasch, Jose Luis, 2006. "The impact of privatization on the performance of the infrastructure sector : the case of electricity distribution in Latin American countries," Policy Research Working Paper Series 3936, The World Bank. [Downloadable!]
  17. Tim Coelli & Shannon Walding, 2005. "Performance Measurement in the Australian Water Supply Industry," CEPA Working Papers Series WP012005, School of Economics, University of Queensland, Australia. [Downloadable!]
  18. David S Saal & David Parker, 2000. "The impact of privatization and regulation on the water and sewerage industry in England and Wales: a translog cost function model," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 21(6), pages 253-268. [Downloadable!]
  19. Fabrizio Erbetta & Martin Cave, 2007. "Regulation and Efficiency Incentives: Evidence from the England and Wales Water and Sewerage Industry," Review of Network Economics, Concept Economics, vol. 6(4), pages 425-452, December. [Downloadable!]
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