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Generating Efficiency: Economic and Environmental Regulation of Public and Private Electricity Generators in Spain

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Author Info
Pablo Arocena (Universidad Pública de Navarra)
Catherine Waddams Price (University of Warwick)
Abstract

Economic regulation of firms with market power has placed increasing emphasis on incentive-based regulation such as price caps. We focus on the effect of regulation as distinct from ownership, and identify the effect of two different regulatory schemes on both publicly and privately owned Spanish electricity generators. Publicly owned generators were more efficient under cost of service regulation; private (but not public) firms responded to incentive regulation by increasing efficiency, bringing their productivity to similar levels. We introduce some novelty in modelling efficiency, including three pollutants and declared plant availability as outputs, and we test for the effect of environmental regulation in reducing pollutants

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File URL: http://www.econ.ku.dk/CIE/Discussion%20Papers/1999/Pdf%20files/9909.pdf
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Publisher Info
Paper provided by University of Copenhagen. Department of Economics. Centre for Industrial Economics in its series CIE Discussion Papers with number 1999-09.

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Length: 28 pages
Date of creation: Jul 1999
Date of revision:
Handle: RePEc:kud:kuieci:1999-09

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Related research
Keywords: price cap regulation; total factor productivity; electricity;

Find related papers by JEL classification:
L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity

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. Bjurek, Hans, 1996. " The Malmquist Total Factor Productivity Index," Scandinavian Journal of Economics, Blackwell Publishing, vol. 98(2), pages 303-13, June.
  2. Forsund, Finn R & Hjalmarsson, Lennart, 1979. "Generalised Farrell Measures of Efficiency: An Application to Milk Processing in Swedish Dairy Plants," Economic Journal, Royal Economic Society, vol. 89(354), pages 294-315, June. [Downloadable!] (restricted)
  3. Arocena, Pablo & Kuhn, Kai-Uwe- & Regibeau, Pierre, 1999. "Regulatory reform in the Spanish electricity industry: a missed opportunity for competition," Energy Policy, Elsevier, vol. 27(7), pages 387-399, July. [Downloadable!] (restricted)
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Cited by:
(explanations, 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. Mota, R.L., 2004. "‘Comparing Brazil and USA electricity performance; what was the impact of privatisation?’," Cambridge Working Papers in Economics 0423, Faculty of Economics, University of Cambridge. [Downloadable!]
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