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Scale economies in electricity distribution: a semiparametric analysis

✍ Scribed by A. Yatchew

Publisher: John Wiley and Sons
Year: 2000
Tongue: English
Weight: 260 KB
Volume: 15
Category: Article
ISSN: 0883-7252
DOI: 10.1002/(sici)1099-1255(200003/04)15:2<187::aid-jae548>3.0.co;2-b

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✦ Synopsis

We estimate the costs of distributing electricity using data on municipal electric utilities in Ontario, Canada for the period 1993±5. The data reveal substantial evidence of increasing returns to scale with minimum ecient scale being achieved by ®rms with about 20,000 customers. Larger ®rms exhibit constant or decreasing returns. Utilities which deliver additional services (such as water/sewage), have signi®cantly lower costs, indicating the presence of economies of scope. Our basic speci®cations comprise semiparametric variants of the translog cost function where output enters non-parametrically and remaining variables (including their interactions with output) are parametric. We rely upon non-parametric dierencing techniques and extend a previous dierencing test of equality of non-parametric regression functions to a panel data setting.

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