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Regional aspects of electricity sector regulations in Russia

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Author Info
Pobochy Serguey ()
Yudashkina Galina ()
Abstract

This paper estimates regional features of the electricity sector regulation in Russia. We use panel data for 77 Russian regions during 1998–2003. Our analysis is based on the interest-group theory of regulation. The objective of the project is to estimate the influence of regional energy company, consumers, and governor on regulation policy in the region. Empirical analysis shows that governors' elections are accompanied by tariffs' decrease. We found that during 1999–2001 there was a gap between federal and regional regulation, and that energy-intensive enterprises choose the strategy to buy electricity from federal wholesale market, but not to bargain with regional regulator about low tariffs. Based on our analysis we conclude that it is necessary to separate social and economic parameters of regulation. Economic requirements call for the change of pricing method to "rate of return" approach that will stimulate monopolist to increase efficiency. Social requirements should incorporate in regulation mechanisms of taking into account the poverty level in a given region.

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Paper provided by EERC Research Network, Russia and CIS in its series EERC Working Paper Series with number 05-15e.

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Date of creation: 13 Feb 2006
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Handle: RePEc:eer:wpalle:05-15e

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Related research
Keywords: Russia; Russian regions; electricity sector; regulation; interest-group theory; regional governors; panel data analysis;

Find related papers by JEL classification:
L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Woolf, Tim & Michals, Julie, 1995. "Performance-based ratemaking: Opportunities and risks in a competitive electricity industry," The Electricity Journal, Elsevier, vol. 8(8), pages 64-73, October. [Downloadable!] (restricted)
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    Other versions:
  3. Nordhaus, William D, 1975. "The Political Business Cycle," Review of Economic Studies, Blackwell Publishing, vol. 42(2), pages 169-90, April. [Downloadable!] (restricted)
  4. Peltzman, Sam, 1987. "Economic Conditions and Gubernatorial Elections," American Economic Review, American Economic Association, vol. 77(2), pages 293-97, May. [Downloadable!] (restricted)
  5. Faulhaber, Gerald R, 1975. "Cross-Subsidization: Pricing in Public Enterprises," American Economic Review, American Economic Association, vol. 65(5), pages 966-77, December. [Downloadable!] (restricted)
  6. Baltagi, Badi H. & Wu, Ping X., 1999. "Unequally Spaced Panel Data Regressions With Ar(1) Disturbances," Econometric Theory, Cambridge University Press, vol. 15(06), pages 814-823, December. [Downloadable!]
  7. M.E. Beesley & S.C. Littlechild, 1989. "The Regulation of Privatized Monopolies in the United Kingdom," RAND Journal of Economics, The RAND Corporation, vol. 20(3), pages 454-472, Autumn. [Downloadable!] (restricted)
  8. Kuper, Gerard H. & Soest, Daan P. van, 1999. "Asymmetric adaptations to energy price changes," CCSO Working Papers 199913, University of Groningen, CCSO Centre for Economic Research. [Downloadable!]
    Other versions:
  9. Joskow, Paul L. & Rose, Nancy L., 1989. "The effects of economic regulation," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 25, pages 1449-1506 Elsevier. [Downloadable!] (restricted)
    Other versions:
  10. Martimort, David, 1999. "The Life Cycle of Regulatory Agencies: Dynamic Capture and Transaction Costs," Review of Economic Studies, Blackwell Publishing, vol. 66(4), pages 929-47, October. [Downloadable!] (restricted)
  11. Hausman, Jerry A, 1978. "Specification Tests in Econometrics," Econometrica, Econometric Society, vol. 46(6), pages 1251-71, November. [Downloadable!] (restricted)
  12. Demsetz, Harold, 1969. "Information and Efficiency: Another Viewpoint," Journal of Law & Economics, University of Chicago Press, vol. 12(1), pages 1-22, April.
  13. George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring. [Downloadable!] (restricted)
  14. Paul L. Joskow, 2006. "Incentive Regulation for Electricity Networks," CESifo DICE Report, Ifo Institute for Economic Research at the University of Munich, vol. 4(2), pages 3-9, 07. [Downloadable!]
  15. Gimpelson, Vladimir & Treisman, Daniel & Monusova, Galina, 2000. "Public Employment and Redistributive Politics: Evidence from Russia’s Regions," IZA Discussion Papers 161, Institute for the Study of Labor (IZA). [Downloadable!]
  16. Navarro, Peter, 1996. "Seven basic rules for the PBR regulator," The Electricity Journal, Elsevier, vol. 9(3), pages 24-30, April. [Downloadable!] (restricted)
  17. Becker, Gary S, 1983. "A Theory of Competition among Pressure Groups for Political Influence," The Quarterly Journal of Economics, MIT Press, vol. 98(3), pages 371-400, August. [Downloadable!] (restricted)
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