Regulation and investment incentives in electricity distribution: An empirical assessment
| Autor: | Astrid Cullmann, Maria Nieswand |
|---|---|
| Rok vydání: | 2016 |
| Předmět: |
Economics and Econometrics
Electric power distribution business.industry 020209 energy 05 social sciences Rate base 02 engineering and technology Investment (macroeconomics) Empirical assessment General Energy Incentive Investment decisions Investment incentives 0502 economics and business 0202 electrical engineering electronic engineering information engineering Revenue Business 050207 economics Industrial organization |
| Zdroj: | Energy Economics. 57:192-203 |
| ISSN: | 0140-9883 |
| Popis: | We analyze the effects of incentive regulation with revenue caps on the investment behaviors of 109 German electricity distribution companies. We hypothesize that with Germany's implementation of incentive regulation in 2009 firms increase their investments in the base year when the rate base is determined for the following regulatory period. We build a model that controls for both firm-specific heterogeneity and ownership. The results show that investments increase after 2009, especially in the base year. We find that publicly owned firms do not exhibit a different investment behavior than private firms. We conclude that a comprehensive assessment of investment decisions should include all institutional aspects of incentive regulation. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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