An analysis of the Spanish electrical utility industry: Economies of scale, technological progress and efficiency
In this paper we propose a model to explain the behaviour of the Spanish electrical utility industry during the period 1987-1997, under the then existing regulatory system (Marco Legal Estable). The paper will study the presence of economies of scale, the effect of technological progress and the differences in the efficiency of the different companies within the market. The paper concludes that the Spanish electrical utility industry was not, in fact, characterized by economies of scale during this period, but witnessed a great improvement in efficiency within that period. All the critical market factors remind stable.
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- E. Martínez-Budría & S. Jara-Díaz & F. Ramos-Real, 2003. "Adapting Productivity Theory to the Quadratic Cost Function. An Application to the Spanish Electric Sector," Journal of Productivity Analysis, Springer, vol. 20(2), pages 213-229, September.
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- Massimo Filippini & Jörg Wild, 2000. "Regional Differences in Electricity Distribution Costs and their Consequences for Yardstick Regulation of Access Prices," CEPE Working paper series 00-05, CEPE Center for Energy Policy and Economics, ETH Zurich.
- Green, Richard & Newbery, David M, 1997. "Competition in the Electricity Industry in England and Wales," Oxford Review of Economic Policy, Oxford University Press, vol. 13(1), pages 27-46, Spring.
- A. Yatchew, 2000. "Scale economies in electricity distribution: a semiparametric analysis," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(2), pages 187-210.
- Subal Kumbhakar, 1997. "Efficiency estimation with heteroscedasticity in a panel data model," Applied Economics, Taylor & Francis Journals, vol. 29(3), pages 379-386.
- Gilsdorf, Keith, 1994. "Vertical integration efficiencies and electric utilities: A cost complementarity perspective," The Quarterly Review of Economics and Finance, Elsevier, vol. 34(3), pages 261-282.
- Christensen, Laurits R & Greene, William H, 1976. "Economies of Scale in U.S. Electric Power Generation," Journal of Political Economy, University of Chicago Press, vol. 84(4), pages 655-676, August.
- Jara-Diaz, Sergio & Ramos-Real, Francisco Javier & Martinez-Budria, Eduardo, 2004. "Economies of integration in the Spanish electricity industry using a multistage cost function," Energy Economics, Elsevier, vol. 26(6), pages 995-1013, November. Full references (including those not matched with items on IDEAS)
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