G2TT
来源类型FEEM working papers "Note di lavoro" series
规范类型论文
A Methodology to Propose the X-Factor in the Regulated English and Welsh Water And Sewerage Companies
Alexandros Maziotis; David S. Saal; Emmanuel Thanassoulis
发表日期2013
出处Climate Change and Sustainable Development
出版年2013
语种英语
摘要The purpose of this paper is to develop a methodology which can be used to set X-factor under price cap schemes, when the number of observations is limited. We firstly apply a panel index approach across Water and Sewerage companies (WaSCs) over time to decompose unit-specific index number based productivity growth as a function of the productivity growth achieved by benchmark firms, and the catch-up to the benchmark firm achieved by less productive firms. We then calculate the potential productivity catch-up of laggard firms and an estimate of how the top performing company improved its productivity over time (technical change). Both estimates are used to propose X-factor for the industry over a particular period. The results indicated that significant gains in productivity occurred after 2000, when Ofwat set tighter price cap reviews in order to pass previous productivity benefits to consumers. However, average WaSC still needs to improve its productivity towards the benchmark firm (reduce their costs in real terms) by 2.69%, while the most productive firm needs to continue to improve its productivity by 0.95% over a period of five years. This technique is of great interest to researchers who are interested in developing comparative performance measurement under regulation and setting appropriate regulated prices when sample sizes are extremely limited.
特色分类Q5
关键词X-factor Productivity Decomposition Panel Index Numbers Regulation Water and Sewerage Industry
URLhttps://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/a-methodology-to-propose-the-x-factor-in-the-regulated-english-and-welsh-water-and-sewerage-companies/
来源智库Fondazione Eni Enrico Mattei (Italy)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/118142
推荐引用方式
GB/T 7714
Alexandros Maziotis,David S. Saal,Emmanuel Thanassoulis. A Methodology to Propose the X-Factor in the Regulated English and Welsh Water And Sewerage Companies. 2013.
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