Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/191982 
Erscheinungsjahr: 
2019
Schriftenreihe/Nr.: 
ZEW Discussion Papers No. 18-010
Versionsangabe: 
This Version: January 29, 2019
Verlag: 
Zentrum für Europäische Wirtschaftsforschung (ZEW), Mannheim
Zusammenfassung: 
We propose a difference-in-differences (DiD) approach to estimate the impact of incentives on cost reduction. We show theoretically, and estimate empirically, that German electricity distribution system operators (DSOs) pile up more costs in the year used to determine future prices when subject to a lower-powered regulation mechanism. The difference is particularly significant (about 10% of total cost) for firms in the upper quartile of the efficiency distribution, a pattern which is consistent with the pooling of types under the threat of ratcheting. In light of heterogeneous network reinforcement across DSOs due to local wind and solar power expansion, cost inflation will particularly hit already hard-struck DSOs’ customers.
Schlagwörter: 
regulation
ratchet effect
electricity utilities
difference-in-differences
efficiency analysis
JEL: 
K23
L51
L94
L98
D24
D82
Dokumentart: 
Working Paper

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