Regulating Utilities With Management Incentives
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Regulating Utilities With Management Incentives
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Author : Kurt A. Strasser
language : en
Publisher: Praeger
Release Date : 1989-12-11
Regulating Utilities With Management Incentives written by Kurt A. Strasser and has been published by Praeger this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989-12-11 with Business & Economics categories.
This book proposes a new approach to the government regulation of utilities. Arguing that traditional command-and-control regulation does not encourage efficient performance, Strasser and Kohler advocate the use of an incentive-based regulatory system and offer a practical, realistic strategy for the successful implementation of such plans within the context of utility regulation. The analysis is supported by a comprehensive survey of the relevant legal materials, an overview of the literature on organization theory and institutional economics, and a survey of the latest thinking on how incentives can most effectively be paid. Strasser and Kohler begin by identifying problems associated with current regulatory techniques, demonstrating that disincentives are often built into the regulatory system. When that system has tried incentives, the authors show they have been applied in an ad hoc manner, further exacerbating the problem. In presenting the case for incentive-based regulation, the authors review the history of comprehensive incentive plans, look at what organization theory can teach us about using incentives as a regulatory strategy, and explore the effective use of incentive compensation by nonregulated companies. Strasser and Kohler then develop a strategy for implementing incentive plans in regulated utilities, showing that, in order to work, the plans must include the installation of clearly defined bonuses and penalties, specific standards of performance, the payment of bonuses to managers rather than shareholders, and reliable and complete measures of company performance. Policymakers, economists, public utility regulators, and attorneys involved in the complex arena of utility regulation will find Regulating Utilities with Management Incentives indispensable reading.
Incentive Regulation In The Electric Utility Industry
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Author :
language : en
Publisher:
Release Date : 1983
Incentive Regulation In The Electric Utility Industry written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983 with Electric utilities categories.
Incentive Regulation For Public Utilities
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Author : Michael A. Crew
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Incentive Regulation For Public Utilities written by Michael A. Crew and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
This book is based on two seminars held at Rutgers on October 22, 1993, and May 6, 1994 entitled `Incentive Regulation for Public Utilities'. These contributions by leading scholars and practitioners represent some of the best new research in public utility economics and include topics such as the theory of incentive regulation, dynamic pricing, transfer pricing, issues in law and economics, pricing priority service, and energy utility resource planning.
Utility Benchmarking And Regulation In Developing Countries
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Author : Silver Mugisha
language : en
Publisher: IWA Publishing
Release Date : 2011-05-14
Utility Benchmarking And Regulation In Developing Countries written by Silver Mugisha and has been published by IWA Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05-14 with Science categories.
Utility performance, especially in developing countries is still working toward the standard necessary to deliver best practice. Utility Benchmarking and Regulation in Developing Countries examines performance monitoring and regulation as a prominent efficiency enhancement tool and clarifies many of the unknowns regarding the design and approach surrounding the area of utility management. Principles and practices are linked in a way that is informative and accessible, highlighting the challenges facing those who are trying to improve performance in the water sector. Operational settings are complex and unpredictable in developing countries due to inadequate infrastructure planning and this book makes clear which systems work best in these situations. Utility Benchmarking and Regulation in Developing Countries discusses performance monitoring in the critical areas of utility management that achieve sustainable performance goals: Performance development planning Modes of performance monitoring Provocative approaches to incentives creation Monitoring through high incentive plans Customer relations monitoring Pro-poor oriented monitoring Careful use of partial performance indicators Proposed indicators for assessing governance incentives A case study on the National Water and Sewerage Corporation, Uganda is included in the book detailing the difficulties in discerning performance progress based on partial performance indicators. It underlines disparities in basing performance conclusions on partial performance indicators on one hand and aggregate analysis using modern benchmarking toolkits on the other. This is an excellent handbook for utility monitors or regulators whose primary duty is to oversee performance management. It is a valuable resource for decision-makers, analysts, and policy-makers and can be used in capacity-building programs (both in-house and in universities) around the world.
Implications Of Regulation Policy Incentives For Strategic Control
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Author : Vinh Sum Chau
language : en
Publisher:
Release Date : 2005
Implications Of Regulation Policy Incentives For Strategic Control written by Vinh Sum Chau and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
This paper proposes an internal management perspective of the company, as a complement to longstanding principal agency theory, for understanding the interchange between regulator and company. It draws from a longitudinal research project on understanding the implications of regulation policy incentives for strategic control in the management of UK monopoly network utilities and the management implications of regulatory policy making. This paper reports on how two utility companies have managed regulatory objectives alongside organizational ones in electricity distribution and gas transportation and suggests a new integrative model of strategic control for understanding utility management. It concludes if regulation policies are to be effective then regulators should understand the internal management of the companies if performance targets are to be attained.
Regulatory Incentives For Demand Side Management
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Author : Steven Nadel
language : en
Publisher:
Release Date : 1992
Regulatory Incentives For Demand Side Management written by Steven Nadel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Business & Economics categories.
The current regulatory system often serves to financially reward utilities that sell more electricity and penalise those that sell less, thus discouraging energy efficiency. To address the problem, a variety of reforms have been proposed and implemented to make the least-cost plan for meeting future electricty needs the most-profit plan for the utility. This book brings together contributions by over 20 experts who are currently shaping regulatory incentives across the US. These experts analyze: leading incentive mechanisms; rationales for regulatory incentives; how incentives evolved; linkages to programme evaluation; impacts of incentives on utilities; and the future direction of incentives.
A Primer On Incentive Regulation For Electric Utilities
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Author :
language : en
Publisher:
Release Date : 1995
A Primer On Incentive Regulation For Electric Utilities written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with categories.
In contemplating a regulatory approach, the challenge for regulators is to develop a model that provides incentives for utilities to engage in socially desirable behavior. In this primer, we provide guidance on this process by discussing (1) various models of economic regulation, (2) problems implementing these models, and (3) the types of incentives that various models of regulation provide electric utilities. We address five regulatory models in depth. They include cost-of-service regulation in which prudently incurred costs are reflected dollar-for-dollar in rates and four performance-based models: (1) price-cap regulation, in which ceilings are placed on the average price that a utility can charge its customers; (2) revenue-cap regulation, in which a ceiling is placed on revenues; (3) rate-of-return bandwidth regulation, in which a utilitys̀ rates are adjusted if earnings fall outside a {open_quotes}band{close_quotes} around equity returns; and (4) targeted incentives, in which a utility is given incentives to improve specific components of its operations. The primary difference between cost-of-service and performance-based approaches is the latter sever the tie between costs and prices. A sixth, {open_quotes}mixed approach{close_quotes} combines two or more of the five basic ones. In the recent past, a common mixed approach has been to combine targeted incentives with cost-of-service regulation. A common example is utilities that are subject to cost-of-service regulation are given added incentives to increase the efficiency of troubled electric-generating units.
Risk Principles For Public Utility Regulators
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Author : Janice A. Beecher
language : en
Publisher: MSU Press
Release Date : 2016-05-01
Risk Principles For Public Utility Regulators written by Janice A. Beecher and has been published by MSU Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-01 with Business & Economics categories.
Risk and risk allocation have always been central issues in public utility regulation. Unfortunately, the term “risk” can easily be misrepresented and misinterpreted, especially when disconnected from long-standing principles of corporate finance. This book provides those in the regulatory policy community with a basic theoretical and practical grounding in risk as it relates specifically to economic regulation in order to focus and elevate discourse about risk in the utility sector in the contemporary context of economic, technological, and regulatory change. This is not a “how-to” book with regard to calculating risks and returns but rather a resource that aims to improve understanding of the nature of risk. It draws from the fields of corporate finance, behavioral finance, and decision theory as well as the broader legal and economic theories that undergird institutional economics and the economic regulatory paradigm. We exist in a world of scarce resources and abundant uncertainties, the combination of which can exacerbate and distort our sense of risk. Although there is understandable impulse to reduce risk, attempts to mitigate may be as likely to shift risk, and some measures might actually increase risk exposure. Many of the concepts explored here apply not just to financial decisions, such as those by utility investors, but also to regulatory and utility decision-making in general.
Incentive Schemes For Regulating Utilities
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Author : James A. Seagraves
language : en
Publisher:
Release Date : 1982
Incentive Schemes For Regulating Utilities written by James A. Seagraves and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Public utilities categories.
Incentive Regulation For Public Utilities
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Author : Alexander J. Black
language : en
Publisher:
Release Date : 1993
Incentive Regulation For Public Utilities written by Alexander J. Black and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with categories.