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The Role Of Model Specification In Finding The Influence Of Ownership And Regulatory Regime On Utility Cost: The Case Of Swedish Electricity Distribution

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  • MAGNUS SÖDERBERG

Abstract

The lack of consensus on how utility cost is affected by variation in ownership and regulatory regime has been attributed to sector-specific conditions and interacting observed heterogeneous factors. This study investigates a further source of ambiguous outcomes as it evaluates different econometric specifications related to variations in utility objective/the design of regulatory regime and influences from unknown/uncertain heterogeneous factors. Consistent with theoretical predictions, 7 years of data from the Swedish electricity distribution sector reveal that private ownership and stronger financial incentives are associated with lower costs. It is also demonstrated that inappropriate model specifications can produce arbitrary conclusions.
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  • Magnus Söderberg, 2011. "The Role Of Model Specification In Finding The Influence Of Ownership And Regulatory Regime On Utility Cost: The Case Of Swedish Electricity Distribution," Contemporary Economic Policy, Western Economic Association International, vol. 29(2), pages 178-190, April.
    • Handle: RePEc:bla:coecpo:v:29:y:2011:i:2:p:178-190
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    Cited by:

    1. Pombo, Carlos & Taborda, Rodrigo, 2006. "Performance and efficiency in Colombia's power distribution system: Effects of the 1994 reform," Energy Economics, Elsevier, vol. 28(3), pages 339-369, May.
    2. Erik Lundin, 2020. "Effects of Privatization on Price and Labor Efficiency: The Swedish Electricity Distribution Sector," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 247-274.
    3. Ovaere, Marten, 2023. "Cost-efficiency and quality regulation of energy network utilities," Energy Economics, Elsevier, vol. 120(C).
    4. Richard Meade & Magnus Soderberg, 2017. "Welfare-Maximising Investors? – Utility Firm Performance with Heterogeneous Quality Preferences and Endogenous Ownership," Working Papers 2017-09, Auckland University of Technology, Department of Economics.
    5. Meade, Richard & Söderberg, Magnus, 2020. "Is welfare higher when utilities are owned by customers instead of investors? Evidence from electricity distribution in New Zealand," Energy Economics, Elsevier, vol. 86(C).
    6. Magnus Söderberg & Makoto Tanaka, 2012. "Spatial price homogeneity as a mechanism to reduce the threat of regulatory intervention in locally monopolistic sectors," Working Papers hal-00659458, HAL.

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