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  • 1
    Publication Date: 2017-06-21
    Description: Levels of CO2 emissions from electricity generation in the U.S. have changed considerably in the last decade. This development can be attributed to two factors. First, the shale gas revolution has reduced gas prices significantly, leading to a crowding out of the more CO2-intensive coal for electricity generation. Secondly, environmental regulations have been tightened at both the federal and the state level. In this article, we analyze the relative CO2 emission performance across 48 states in the U.S. using a two-stage empirical approach. In the first stage, we identify the states that followed best practice between 2000 and 2013, by applying nonparametric benchmarking techniques. In the second stage, we regress our CO2 emission performance indicators on the state-specific national gas prices, the states' CO2 regulatory policies and a number of other state-specific factors in order to identify the main drivers of the developments. We find that the CO2 emission performance improved on average by 15% across all states from 2000 to 2013. Furthermore, our second-stage results support the argument that decreasing natural gas prices and stringent regulatory measures, such as cap-and-trade programs, have a positive impact on the state-specific CO2 emission performance.
    Keywords: C61 ; D24 ; L94 ; Q58 ; ddc:330 ; carbon dioxide emission performance ; data envelopment analysis ; global Malmquist index ; environmental regulation
    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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  • 2
    Publication Date: 2017-06-29
    Description: Levels of CO2 emissions from electricity generation in the U.S. have changed considerably in the last decade. This development can be attributed to two factors. First, the shale gas revolution has reduced gas prices significantly, leading to a crowding out of the more CO2-intensive coal for electricity generation. Secondly, environmental regulations have been tightened at both the federal and the state level. In this article, we analyze the relative CO2 emission performance across 48 states in the U.S. using a two-stage empirical approach. In the first stage, we identify the states that followed best practice between 2000 and 2013, by applying nonparametric benchmarking techniques. In the second stage, we regress our CO2 emission performance indicators on the state-specific national gas prices, the states' CO2 regulatory policies and a number of other state-specific factors in order to identify the main drivers of the developments. We find that the CO2 emission performance improved on average by 15% across all states from 2000 to 2013. Furthermore, our second-stage results support the argument that decreasing natural gas prices and stringent regulatory measures, such as cap-and-trade programs, have a positive impact on the state-specific CO2 emission performance.
    Keywords: C61 ; D24 ; L94 ; Q58 ; ddc:330 ; carbon dioxide emission performance ; data envelopment analysis ; global Malmquist index ; environmental regulation
    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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    Kiel, Hamburg: ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
    Publication Date: 2017-10-02
    Description: In this article, we analyze the relative CO2 emission performance across 48 states in the U.S. using a two-stage empirical approach. In the first stage, we identify the states that followed best practice by applying benchmarking techniques. In the second stage, we regress our CO2 emission performance indicators on the state-specific national gas prices, the states’ CO2 regulatory policies and a number of other state-specific factors in order to identify the main drivers of the developments.
    Keywords: C61 ; D24 ; L94 ; Q58 ; ddc:330
    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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    Lüneburg: Leuphana Universität Lüneburg, Institut für Volkswirtschaftslehre
    Publication Date: 2019-02-05
    Description: Reviewing the development of network access charges in the German electricity market since 2002 reveals significant variation. While some firms continually increased or decreased their access charges, a variety of firms exhibited discontinuous behavior with price changes in both directions. From an economic viewpoint this price setting turbulence is astonishing because grid operators are non-contestable natural monopolists, which in this time period were regulated by Negotiated Third Party Access (NTPA). Depending on the effectiveness or ineffectiveness of NTPA, expected behavior would be either regulated average cost prices or monopoly prices, but not the observed turbulence. Although in 2005 NTPA scheme was replaced by a Regulated Third Party Access (RTPA) scheme with a regulator, an analysis of the factors influencing the price setting behavior within this period offers valuable information for the new regulator and the still discussed new incentive regulation, which is expected to start in 2009. Using multivariate estimations based on firm data covering the years 2000-2005, we test the hypotheses that asymmetric influence of regulatory threat, different cost and price calculation knowledge, strategic use of structural features and the obligation to publish specific access charges have influenced the electricity network access charges in Germany.
    Keywords: D42 ; L43 ; L94 ; ddc:330 ; Stromnetz ; Netzzugang ; Stromtarif ; Elektrizitätswirtschaft ; Unternehmensregulierung ; Natürliches Monopol ; Deregulierung ; Deutschland
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 5
    Publication Date: 2019-01-16
    Description: Since the 1990s, efficiency and benchmarking analysis has increasingly been used in network utilities research and regulation. A recurrent concern is the effect of environmental factors that are beyond the influence of firms (observable heterogeneity) and factors that are not identifiable (unobserved heterogeneity) on measured cost and quality performance of firms. This paper analyses the effect of geographic and weather factors and unobserved heterogeneity on a set of 128 Norwegian electricity distribution utilities for the 2001-2004 period. We utilize data on almost 100 geographic and weather variables to identify real economic inefficiency while controlling for observable and unobserved heterogeneity. We use the factor analysis technique to reduce the number of environmental factors into few composite variables and to avoid the problem of multicollinearity. We then estimate the established stochastic frontier models of Battese and Coelli (1992; 1995) and the recent true fixed effects models of Greene (2004; 2005) without and with environmental variables. In the former models some composite environmental variables have a significant effect on the performance of utilities. These effects vanish in the true fixed effects models. However, the latter models capture the entire unobserved heterogeneity and therefore show significantly higher average efficiency scores.
    Keywords: L15 ; L51 ; L94 ; ddc:330 ; Efficiency ; Quality of service ; Input distance function ; Stochastic frontier analysis ; Elektrizitätswirtschaft ; Elektrizitätsversorgung ; Netzwerk ; Dienstleistungsqualität ; Umwelt ; Wetter ; Produktivität ; Norwegen
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 6
    Publication Date: 2013-05-25
    Description: The German Energiewende’s potential effects on the reliability of electricity supply as well as the corresponding economic consequences have recently entered both the political and scientific debate. However, empirical evidence of power outage costs in Germany is rather scarce. Following a macroeconomic approach, we analyse the economic costs imposed by potential power interruptions in Germany. Investigating a rich data set on industry and households we estimate both Values of Lost Load (VoLLs) and associated costs of power interruptions for different German regions and sectors and every hour of the year. This disaggregated approach allows for conclusions for optimal load shedding in case of technical necessity and the economic efficiency of measures to improve security of supply. We find that interruption costs vary significantly over time, between sectors and regions. Peaking on midday of a Monday in December at 750 Mioe per hour, the average of total national outage costs amount to approximately 430 Mioe per hour. Our results emphasize the prominent regional aspect of the German Energiewende as the regions with the highest estimated cost of interruptions in South and West Germany coincide with the areas which face nuclear power plant shut downs in the near future.
    Keywords: D61 ; L94 ; Q40 ; Q41 ; ddc:330 ; Security of Supply ; Value of Lost Load (VoLL) ; German Energiewende ; Electricity outage costs
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 7
    Publication Date: 2013-05-25
    Description: Several countries around the world have introduced reforms to the electric power sector. One important element of these reforms is the introduction of an unbundling process, i.e., the separation of the competitive activities of supply and production from the monopole activity of transmission and distribution of electricity. There are several forms of unbundling: functional, legal and ownership. New Zealand, for instance, adopted an ownership unbundling in 1998. As discussed in the literature, ownership unbundling produces benefits and costs. One of the benefits may be an improvement in the level of the productive efficiency of the companies due to the use of the inputs in just one activity and a greater level of transparency for the regulator. This paper analyzes the cost efficiency of 28 electricity distribution companies in New Zealand for the period between 1996 and 2011. Using a stochastic frontier panel data model, a total cost function and a variable cost function are estimated in order to evaluate the impact of ownership unbundling on the level of cost efficiency. The results indicate that ownership separation of electricity generation and retail operations from the distribution network has a positive effect on the cost efficiency of distribution companies in New Zealand. The estimated effect of ownership separation suggests a positive average one-off shift of 23 percent in the level of cost efficiency in the shortrun and 15 percent in the long-run.
    Keywords: D24 ; L51 ; L94 ; ddc:330 ; Electricity distribution ; Ownership separation ; Cost efficiency ; Total cost function ; Variable cost function ; Stochastic frontier analysis
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 8
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    Marburg: Philipps-University Marburg, School of Business and Economics
    Publication Date: 2019-10-23
    Description: Energy efficiency provides a substantial opportunity to tackle increasing greenhouse gas emissions. However, in traditionally regulated energy markets, energy providers maximize their profits by selling electricity or heat as long as their marginal revenue exceeds their marginal costs of production. This so called 'throughput incentive' fundamentally restricts the motivation of utilities to invest in energy efficiency. This paper therefore investigates the relation between the regulatory policy revenue decoupling, that separates utilities' revenue from sales fluctuations, and electricity customers' energy demand and efficiency in the U.S. To address the research question at hand, we follow recent developments in energy demand function modeling and Stochastic Frontier Analysis (SFA) estimation techniques that allow to account for persistent as well as transient efficiency. The estimation results show a signif- icant negative correlation between revenue decoupling and electricity consumption patterns. Furthermore, we find electricity customers have small transient inefficiency. However, results indicate an underlying persistent inefficiency across the entire electric sector.
    Keywords: C23 ; L51 ; L94 ; ddc:330 ; Revenue decoupling ; energy efficiency ; stochastic frontier analysis ; demand frontier function ; transient and persistent efficiency
    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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