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Google圖書搜尋
Pitfalls in Estimating the X-factor
Mohsen Afsharian
Heinz Ahn
Ana Paula Lopes
Bruno Vilela
其他書名
The Case of Energy Transmission Regulation in Brazil
出版
2021
URL
http://books.google.com.hk/books?id=swbhzQEACAAJ&hl=&source=gbs_api
註釋
In Brazil, which has one of the biggest energy systems in the world, the National Electricity Regulatory Agency (Agência Nacional de Energia Elétrica - ANEEL) regulates the generation, transmission, distribution and commercialization of electricity. As a key step in running the incentive regulation regime, the regulator applies a DEA-based Malmquist index for estimating the X-factor, which reflects productivity gains that can be expected across all companies involved in the industry. This paper investigates the way the X-factor was estimated in 2015 by ANEEL in the transmission sector concerning the review period 2009-2014. The regulator applies a modified version of the Malmquist index developed by Ray and Desli [1] and also adapts the bootstrapping method of Simar and Wilson [2] to generate confidence intervals for an estimate of the X-factor. Analyzing ANEEL's approach, we have discovered a number of serious analytical and computational shortcomings, which we demonstrate in the paper. On this basis, we address the effect of the estimated X-factor on social welfare, having the final customers to pay a higher price for electricity than they were supposed to.
