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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

    () (CERNA i3 - Centre d'économie industrielle i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique)

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.

Suggested Citation

  • 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," Post-Print hal-00768606, HAL.
  • Handle: RePEc:hal:journl:hal-00768606
    DOI: 10.1111/j.1465-7287.2010.00209.x
    Note: View the original document on HAL open archive server: https://hal-mines-paristech.archives-ouvertes.fr/hal-00768606
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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. 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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