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What is the X-Factor in the German Electricity Industry?

  • Andreas Kuhlmann
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    A new legislation in the German electricity market requires the implementation of an incentive-based regulation within the next years. In such a regime either prices or revenuesare capped and grow with the inflation rate minus a factor, which accounts for productivitydifferences between the sector and the rest of the economy. This paper derivessuch an X-factor for the German electricity industry using a new productivity databaseand Growth Accounting methodology. Considering that several underlying assumptionsare violated due to market imperfections, the calculated X-factor rises from 0.48 to amodified value of 2.15.

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    File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-Ifo_Working_Papers/wp-ifo-2005-2010/IfoWorkingPaper-34.pdf
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    Paper provided by Ifo Institute for Economic Research at the University of Munich in its series Ifo Working Paper Series with number Ifo Working Papers No. 34.

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    Date of creation: 2006
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    Handle: RePEc:ces:ifowps:_34
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    1. Storchmann, Karl, 2005. "The rise and fall of German hard coal subsidies," Energy Policy, Elsevier, vol. 33(11), pages 1469-1492, July.
    2. Mark Armstrong & Simon Cowan & John Vickers, 1994. "Regulatory Reform: Economic Analysis and British Experience," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262510790, June.
    3. Bernstein, Jeffrey I & Sappington, David E M, 1999. "Setting the X Factor in Price-Cap Regulation Plans," Journal of Regulatory Economics, Springer, vol. 16(1), pages 5-25, July.
    4. Ingo Vogelsang, 2005. "The German Electricity Sector – Finally on the Move?," CESifo DICE Report, Ifo Institute for Economic Research at the University of Munich, vol. 3(2), pages 30-39, 07.
    5. Bernstein, Jeffrey I. & Sappington, David E. M., 2000. "How to determine the X in RPI-X regulation: a user's guide," Telecommunications Policy, Elsevier, vol. 24(1), pages 63-68, February.
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