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http://hdl.handle.net/1843/57592| Type: | Artigo de Periódico |
| Title: | Pitfalls in estimating the X-factor: the case of energy transmission regulation in Brazil |
| Authors: | Mohsen Afsharian Heinz Ahn Ana Lopes Bruno Vilela |
| Abstract: | 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. |
| Subject: | Energia Agência Nacional de Energia Elétrica (Brasil) |
| language: | por |
| metadata.dc.publisher.country: | Brasil |
| Publisher: | Universidade Federal de Minas Gerais |
| Publisher Initials: | UFMG |
| metadata.dc.publisher.department: | FCE - DEPARTAMENTO DE CIÊNCIAS ADMINISTRATIVAS |
| Rights: | Acesso Restrito |
| metadata.dc.identifier.doi: | doi.org/10.1016/j.seps.2018.04.004 |
| URI: | http://hdl.handle.net/1843/57592 |
| Issue Date: | 2018 |
| metadata.dc.url.externa: | https://www.sciencedirect.com/science/article/pii/S0038012117302446 |
| metadata.dc.relation.ispartof: | Socio-Economic Planning Sciences |
| Appears in Collections: | Artigo de Periódico |
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