Regulatory Benchmarking: Models, Analyses and Applications

Per J. Agrell, Peter Bogetoft

Publikation: Bidrag til konference › Paper › Forskning

Resumé

Benchmarking methods, and in particular Data Envelopment Analysis (DEA), have become well-established and informative tools for economic regulation. DEA is now routinely used by European regulators to set reasonable revenue caps for energy transmission and distribution system operators. The application of bench-marking in regulation, however, requires specific steps in terms of data validation, model specification and outlier detection that are not systematically documented in open publications, leading to discussions about regulatory stability and economic feasibility of these techniques. In this paper, we review the modern foundations for frontier-based regulation and we discuss its actual use in several jurisdictions.
Benchmarking methods, and in particular Data Envelopment Analysis (DEA), have become well-established and informative tools for economic regulation. DEA is now routinely used by European regulators to set reasonable revenue caps for energy transmission and distribution system operators. The application of bench-marking in regulation, however, requires specific steps in terms of data validation, model specification and outlier detection that are not systematically documented in open publications, leading to discussions about regulatory stability and economic feasibility of these techniques. In this paper, we review the modern foundations for frontier-based regulation and we discuss its actual use in several jurisdictions.
SprogEngelsk
Dato2017
Antal sider37
StatusUdgivet - 2017

Bibliografisk note

CBS Bibliotek har ikke adgang til materialet

Emneord

  • DEA
  • Agency theory
  • Regulation
  • Energy networks

Citer dette

Agrell, Per J. ; Bogetoft, Peter. / Regulatory Benchmarking : Models, Analyses and Applications. 37 s.
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Agrell, PJ & Bogetoft, P 2017, 'Regulatory Benchmarking: Models, Analyses and Applications'.

Regulatory Benchmarking : Models, Analyses and Applications. / Agrell, Per J.; Bogetoft, Peter.

2017.

Publikation: Bidrag til konference › Paper › Forskning

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AB - Benchmarking methods, and in particular Data Envelopment Analysis (DEA), have become well-established and informative tools for economic regulation. DEA is now routinely used by European regulators to set reasonable revenue caps for energy transmission and distribution system operators. The application of bench-marking in regulation, however, requires specific steps in terms of data validation, model specification and outlier detection that are not systematically documented in open publications, leading to discussions about regulatory stability and economic feasibility of these techniques. In this paper, we review the modern foundations for frontier-based regulation and we discuss its actual use in several jurisdictions.

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Agrell PJ, Bogetoft P. Regulatory Benchmarking: Models, Analyses and Applications. 2017.