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  • 1
    Publication Date: 2016-02-08
    Description: Since early 2009, electricity and gas distribution in Germany has been subject to incentive regulation designed to ensure greater efficiency in electricity and gas grid operation. However, it remains to be seen how changes to the regulatory framework will affect the investment behavior of distribution system operators. Against this background, the present study empirically analyzes the investment activities of distribution system operators for the period from 2006 to 2012. The key questions are whether the introduction of incentive regulation in 2009 has had an empirically demonstrable impact on investment and whether this effect is due to the introduction of incentive regulation per se, or to its specific design. The findings show a positive effect on investment since the introduction of incentive regulation which, in particular, is determined by the specific design of regulation.
    Keywords: D22 ; L51 ; L94 ; L95 ; ddc:330 ; Investments ; Regulation ; Network Industries
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:article
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  • 2
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2016-06-22
    Description: We analyze potential gains from hypothetical mergers in local public transport using the non-parametric Data Envelopment Analysis with bias corrections by means of bootstrapping. Our sample consists of 41 public transport companies from Germany's most densely populated region, North Rhine-Westphalia. We merge them into geographically meaningful, larger units that operate partially on a joint tram network. Merger gains are then decomposed into individual technical efficiency, synergy and size effects following the methodology of Bogetoft and Wang [Bogetoft, P., Wang, D., 2005. Estimating the Potential Gains from Mergers. Journal of Productivity Analysis, 23(2), 145-171]. Our empirical findings suggest that substantial gains up to 16 percent of factor inputs are present, mainly resulting from synergy effects.
    Keywords: L92 ; C14 ; L11 ; ddc:330 ; Merger ; public transport ; efficiency ; Data Envelopment Analysis ; Öffentlicher Personennahverkehr ; Fusion ; Synergie ; Technische Effizienz ; Data-Envelopment-Analyse ; Nordrhein-Westfalen ; Deutschland
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 3
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2016-06-22
    Description: We analyze the technical efficiency of German and Swiss urban public transport companies by means of SFA. In transport networks we might face different network structures or complexities, not observed, but influencing the production process. The unobserved factors are typically modeled as separable factors. However, we argue that the entire production process is organized around different network structures. Therefore, they are inevitably non-separable from the observed inputs and outputs. The adopted econometric model is a random coefficient stochastic frontier model. We estimate an input distance function for the years 1991 to 2006. The results underline the presence of unobserved non-separable factors.
    Keywords: ddc:330 ; Öffentliche Verkehrswirtschaft ; Öffentlicher Personennahverkehr ; Technische Effizienz ; Netzwerk ; Organisation ; Benchmarking ; Schätzung ; Vergleich ; Deutschland ; Schweiz
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 4
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2016-06-22
    Description: We analyze the effects of an incentive based regulatory scheme with revenue caps on the investment behaviors and decisions of 109 electricity distribution companies operating in Germany in 2006-2012. We hypothesize that Germany's implementation of incentive regulation in 2009 has a negative impact on total investment, and that firms increase their investments in the base year. We build a model that controls for both firm-specific heterogeneity and ownership structure and test it with the German data. The results show that investments increase after incentive regulation, and that the institutional constraints used to determine the revenue caps influence the distribution companies' investment decisions. We also note that the investments increase in the base year when the rate base is determined for the following regulatory period. We conclude that a comprehensive assessment of Germany's electricity distribution companies' investment decisions and behaviors should account for firm specific heterogeneity. It should further include all institutional aspects of incentive regulation to design incentives that will foster investments in the region's energy networks.
    Keywords: L94 ; L51 ; L98 ; ddc:330 ; Incentive Regulation ; Electricity Distribution ; Investments ; Germany
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 5
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2016-02-08
    Description: A considerable share of public investment comes not only from public budgets but also from public utility companies. One major area of investment is energy and water supply, where the utility companies have substantial fixed assets in the form of distribution infrastructure. Using new microdata which has not been analyzed before, the present report shows that-unlike with the core public budgets-public energy and water supply companies show no signs of insufficient investment. On the contrary, gross investment into distribution networks over the past ten years has shown an upward trend comparable to that of private energy and water supply companies-if investment related to the expansion of infrastructure resulting from the energy transition is not taken into account. In addition, no clear correlation was found between the investment expenditure of energy and water supply companies and the financial strength or demographic trends within a given region. However, this does not rule out the possibility of diverging investment trends in the near future in response to demographic changes.
    Keywords: R53 ; L33 ; L97 ; ddc:330 ; Investments ; Public Utilities
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 6
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2016-02-08
    Description: Einen beachtlichen Anteil öffentlicher Investitionen tätigen - außerhalb der öffentlichen Haushalte - kommunale Unternehmen, beispielsweise Stadtwerke. Ein bedeutender Investitionsbereich ist die Energie- und Wasserversorgung, da die Unternehmen über beträchtliche Sachanlagen in der leitungsgebundenen Infrastruktur verfügen. Der vorliegende Bericht zeigt auf Basis erstmalig verfügbarer Mikrodaten, dass es in der ausgelagerten Energie- und Wasserversorgung - im Gegensatz zu den kommunalen Kernhaushalten - keine Anhaltspunkte für unzureichende Investitionen gibt. Vielmehr folgten die Bruttoinvestitionen in Leitungsanlagen während der vergangenen zehn Jahre einem steigenden Trend, der mit dem der privaten Energie- und Wasserversorgungsunternehmen - sieht man von Erweiterungsinvestitionen im Rahmen der Energiewende ab - vergleichbar ist. Darüber hinaus lässt sich kein eindeutiger Zusammenhang zwischen dem Investitionsverhalten eines kommunalen Energie- und Wasserversorgers und der regionalen Finanzkraft beziehungsweise Bevölkerungsentwicklung finden. Dies schließt jedoch nicht aus, dass insbesondere der demographische Wandel in Zukunft zu regionalen Unterschieden beim Investitionsbedarf führen kann.
    Description: A considerable share of public investment comes not only from public budgets but also from public utility companies. One major area of investment is energy and water supply, where the utility companies have substantial fixed assets in the form of distribution infrastructure. Using new microdata which has not been analyzed before, the present report shows that-unlike with the core public budgets-public energy and water supply companies show no signs of insufficient investment. On the contrary, gross investment into distribution networks over the past ten years has shown an upward trend comparable to that of private energy and water supply companies-if investment related to the expansion of infrastructure resulting from the energy transition is not taken into account. In addition, no clear correlation was found between the investment expenditure of energy and water supply companies and the financial strength or demographic trends within a given region. However, this does not rule out the possibility of diverging investment trends in the near future in response to demographic changes.
    Keywords: R53 ; L33 ; L97 ; ddc:330 ; Investments ; Public Utilities
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: German
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  • 7
    Publication Date: 2016-02-08
    Description: Seit Anfang 2009 unterliegt die Energieversorgung in Deutschland der Anreizregulierung, durch die ein effizienter Betrieb von Strom- und Gasnetzen sichergestellt werden soll. Unklar ist allerdings, wie sich die veränderten regulatorischen Rahmenbedingungen auf das Investitionsverhalten der Netzbetreiber auswirken. Vor diesem Hintergrund wird in der vorliegenden Untersuchung die Investitionstätigkeit der Netzbetreiber für den Zeitraum von 2006 bis 2012 empirisch analysiert. Zentrale Fragestellungen sind, ob der Einführung der Anreizregulierung ab 2009 ein empirisch nachweisbarer Einfluss auf die Investitionstätigkeit zugeschrieben werden kann und ob dieser Einfluss auf die Einführung der Anreizregulierung per se oder auf ihre spezifische Ausgestaltung zurückgeht. Im Ergebnis kann mit Einführung der Anreizregulierung ein positiver Effekt auf die Investitionstätigkeit festgestellt werden, der insbesondere durch die spezifische Ausgestaltung der Regulierung bestimmt wird.
    Description: Since early 2009, power supply in Germany has been subject to incentive regulation designed to ensure greater efficiency in electricity and gas grid operation. However, it remains to be seen how changes to the regulatory framework will affect the investment behavior of distribution system operators. Against this background, the present study empirically analyzes the investment activities of distribution system operators for the period from 2006 to 2012. The key questions are whether the introduction of incentive regulation from 2009 onwards can be attributed to an empirically demonstrable impact on investment and whether this effect is due to the introduction of incentive regulation per se, or to its specific design. The findings show a positive effect on investment since the introduction of incentive regulation which, in particular, is determined by the specific design of regulation.
    Keywords: D22 ; L51 ; L94 ; L95 ; ddc:330 ; Investments ; Regulation ; Network Industries
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: German
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  • 8
    Publication Date: 2016-06-22
    Description: In this paper we present an international cross-country benchmarking analysis for utility regulation of France and Germany, the two largest electricity distribution countries in Europe. We examine the relative performance of 99 French and 77 German distribution companies operating within two different market structures. This paper applies several parametric benchmarking approaches to assess the relative technical efficiency of the utilities, such as deterministic Corrected Ordinary Least Squares (COLS) and Stochastic Frontier Analysis (SFA). Our base model uses the number of employees as a proxy for labor and network length as a proxy for capital as inputs. Units sold and the numbers of customers are considered as outputs. Our model variations and extensions analyze the effect of different characteristics of distribution areas (e.g. population density and the choice of investment in underground cable network). We find that utilities operating in urban areas feature higher efficiency scores and that investment in underground cables increase the technical efficiency of the distribution utilities.
    Keywords: L94 ; L11 ; C40 ; ddc:330 ; International benchmarking ; electricity distribution ; parametric efficiency analysis ; Elektrizitätswirtschaft ; Stromnetz ; Technische Effizienz ; Benchmarking ; Schätzung ; Deutschland ; Frankreich
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 9
    Publication Date: 2016-06-22
    Description: In this paper, we present a nonparametric comparative efficiency analysis of 179 communal public transport bus companies in Germany (1990-2004). We apply both deterministic data envelopment analysis (DEA) and bootstrapping to test the robustness of our estimates and to test the hypothesis of global and individual constant returns to scale. We find that the average technical efficiency of German bus companies is relatively low. We observe that the industry appears to be characterized by increasing returns to scale for smaller companies. These results would imply increasing pressure on bus companies to restructure.
    Keywords: L11 ; L51 ; L92 ; C14 ; ddc:330 ; Public transport ; buses ; efficiency analysis ; nonparametric methods ; DEA ; bootstrapping ; Omnibusverkehr ; Öffentlicher Personennahverkehr ; Technische Effizienz ; Skalenertrag ; Reorganisation ; Deutschland
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 10
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2016-06-22
    Description: In January 2009 Germany introduced incentive regulation for the electricity distribution sector based on results obtained from econometric and nonparametric benchmarking analysis. One main problem for the regulator in assigning the relative efficiency scores are unobserved firm-specific factors such as network and technological differences. Comparing the efficiency of different firms usually assumes that they operate under the same production technology, thus unobserved factors might be inappropriately understood as inefficiency. To avoid this type of misspecification in regulatory practice estimation is carried out in two stages: in a first stage observations are classified into two categories according to the size of the network operators. Then separate analyses are conducted for each sub-group. This paper shows how to disentangle the heterogeneity from inefficiency in one step, using a latent class model for stochastic frontiers. As the classification is not based on a priori sample separation criteria it delivers more robust, statistical significant and testable results. Against this backround we analyze the level of technical efficiency of a sample of 200 regional and local German electricity distribution companies for a balanced panel data set (2001-2005). Testing the hypothesis if larger distributors operate under a different technology than smaller ones we assess if a single step latent class model provides new insights to the use of benchmarking approaches within the incentive regulation schemes.
    Keywords: C24 ; C81 ; D24 ; L94 ; ddc:330 ; Stochastic frontiers ; latent class model ; electricity distribution ; incentive regulation ; Elektrizitätswirtschaft ; Technische Effizienz ; Anreizregulierung ; Multivariate Analyse ; Deutschland
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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