Cost efficiency of Slovenian water distribution utilities: an application of stochastic frontier methods

This study estimates cost inefficiency and economies of scale of Slovenian water distribution utilities over the 1997–2003 period by employing several different stochastic frontier methods. The results indicate that significant cost inefficiencies are present in the utilities. An introduction of incentive-based price regulation scheme might help resolve this problem. However, the inefficiency scores obtained from different cost frontier models are not found to be robust. The levels of inefficiency estimates as well as the rankings depend on the econometric specification of the model. The established lack of robustness can be at least partly explained by different ability of the models to separate unobserved heterogeneity from inefficiency. Newly proposed true fixed effects model (Greene, J Econom 126:269–303, 2005; J Prod Anal 23(1):7–32, 2005) appears to perform better than the conventional panel data models with respect to distinguishing between unobserved heterogeneity and inefficiency. On the other hand, different models produce fairly robust results with respect to estimates of economies of output density, customer density and economies of scale. The optimal size of a company is found to closely corresponds to the sample median. Economies of scale are found in small-sized utilities, while large companies exhibit diseconomies of scale.

Deregulation,governance structures,and efficiency: the U.S. electric utility sector

The business strategy literature offers apparently opposite views of the ability of vertical integration to cope with the uncertainty related to changing regulatory environments. In this paper, we analyze how the process of retail deregulation affects the comparative efficiency of governance structures, which range on a continuum from fully vertically integrated structures to market transactions. Based on the analysis of 177 U.S. electric utilities from 1998 to 2001, our results show that the process of retail deregulation has a negative impact on firms' productive efficiency, as measured using Data Envelopment Analysis. Furthermore, firms that are vertically integrated into electricity generation, or that rely on the market for the supply of their electricity, are more efficient than firms that adopt hybrid structures combining vertical integration and contracting. This research has important implications because it shows the coexistence of different types of governance structures that cope efficiently with regulatory uncertainty through different mechanisms. Copyright © 2005 John Wiley & Sons, Ltd.     

特许经营制在我国目前公用事业市场化中面临的问题

目前,特许经营制在我国城市公用事业市场化过程中面临着政府监管不力、承诺失信、定价机制不全,合同设计不完善、法律法规缺乏等几个主要问题.加强监管、完善合同设计和定价机制,建立合理的制度体系以推动我国公用事业市场化顺利进行,乃当务之急.     

我国城市水务业外商投资现状分析

本文通过对我国城市水务业外商投资现状的分析,分别总结了外商投资PPP现行主要模式BOT、TOT、并购模式等在我国城市水务业的应用情况,指出通过引进外资,对缓解政府建设资金、提升行业技术与管理水平、促进水务业体制机制的改革、市场开放等起到了十分积极的作用。但同时也存在外商利用固定回报率、保底回报率或保底水量等合同约定赚取高额回报,中方水务企业利益严重受损的问题;此外,水价上涨过快、供水安全、城乡水务一体化缓慢、部分消费者普惠服务得不到保障等隐患,进一步导致社会公共利益受到侵害;另外,政府规制不到位,也是外商投资PPP模式存在的主要问题。     

我国能源网络产业国有企业公益性质的定位研究

结合国有企业改革最新进展及国内外相关文献，深入分析了“具有公益性质国有企业”定位的内涵及外延，系统总结了发达国家对国有资产在分类监管、公共服务合同签订、公司治理要求、公司运营等方面的管理经验，厘清了新定位下我国国有企业的改革思路，并从绩效考核、政府机构协调监管、未来国资管理模式、企业非管制性业务发展4个方面分析了其对能源网络公用事业企业的影响。     

Electric utility deregulation: Stranded costs vs. stranded benefits

This study re-examines the electric utility market value-book value relation in light of the changing regulatory climate. The change in the market value-book value relation is examined by comparing the market-to-book ratio in the post-regulatory period to the regulatory period. Additionally, this paper compares the stock market’s valuation of electric utility stranded costs (above market costs) to stranded benefits (below market costs). This paper demonstrates that electric utility market value and book value are no longer aligned. Additionally, this paper extends the research on deregulatory effects by documenting a differential market response to estimated stranded costs versus stranded benefits.     

Flawed Competition Policies: Designing ‘Markets’ with Biased Costs and Efficiency Benchmarks

Rather than the endogenous, tournament-type regulation based on mean costs proposed by Shleifer almost twenty years ago, regulators have opted for market designs based on exogenously determined efficiency comparisons reflected in fixed productivity adjustments. These productivity assessments are based only on estimates of technical efficiency improvements derived from estimated production frontiers. Utilities’ prices and potential profits are driven by this externally determined market. This paper examines the impacts on utility efficiency rankings from variations in peer group frontier regulation in Europe and Australia as well as in its use in the U.S. Despite the potential for distortions caused by long periods with non-market prices, these regulatory applications measure only technical efficiency, leaving moot the assessment of optimal input selection. We examine both technical and allocative efficiency variations among firms from the different cost specifications employed by regulators involving output, factor inputs, and costs. How are rankings impacted when only subsets of total costs (e.g., O&;M, not capital or system losses) are used to gauge efficiency? Does the use of partial measures of capital relying on physical specifications impact efficiency rankings? Are rankings affected when comparisons are made independently one input at a time? Is the efficiency frontier stable? Finally, we compare alternative yardstick measures to a simple ranking on relative (total) cost per unit.     

英国、美国、新加坡城市公用事业监管比较研究

本文主要对英国、美国、新加坡公用事业市场化改革以及监管进行比较分析,进而指出这些国家的监管经验对于完善我国公用事业监管的启示及借鉴作用。     

邮政市场引入竞争的经济学分析

邮政业作为公用事业的一部分面临着市场化改革的压力，邮政普遍服务是邮政业引入竞争的难点。本文通过建立数理模型，借鉴国际上资助普遍服务的方案，从经济学的角度，分析了邮政普遍服务引人竞争需要考虑的因素，供下一步的邮政改革参考。     

市政公用事业改革为城市发展注入活力

作者认为 ,改革开放以后 ,城市市政公用事业有了长足进步 ,主要表现在 :城建资金总量提高 ,能力建设增长迅速 ;城市基础设施“欠帐”问题初步解决 ,城市面貌极大改观 ;市场化改革取得进展 ,供应效率有提高。成就的取得在于观念、机制和体制的转变。