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

Author

Listed:
  • 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

Suggested Citation

  • Pablo Arocena & Catherine Waddams Price, 1999. "Generating Efficiency: Economic and Environmental Regulation of Public and Private Electricity Generators in Spain," CIE Discussion Papers 1999-09, University of Copenhagen. Department of Economics. Centre for Industrial Economics.
  • Handle: RePEc:kud:kuieci:1999-09
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    File URL: http://www.econ.ku.dk/cie/dp/dp_1997-1999/1999-09.pdf/
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    References listed on IDEAS

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    1. De Fraja, Giovanni, 1993. "Productive efficiency in public and private firms," Journal of Public Economics, Elsevier, vol. 50(1), pages 15-30, January.
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    Cited by:

    1. Fare, Rolf & Grosskopf, Shawna & Zaim, Osman, 2002. "Hyperbolic efficiency and return to the dollar," European Journal of Operational Research, Elsevier, vol. 136(3), pages 671-679, February.
    2. 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.
    3. repec:spr:nathaz:v:89:y:2017:i:2:d:10.1007_s11069-017-2981-5 is not listed on IDEAS

    More about this item

    Keywords

    price cap regulation; total factor productivity; electricity;

    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; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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