K u rzfassu n g sb an d - Graz University of Technology
K u rzfassu n g sb an d - Graz University of Technology
K u rzfassu n g sb an d - Graz University of Technology
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128 Energieinnovation 2006<br />
5.2.4 „Dynamic Efficiency Analysis <strong>of</strong> Polish Electricity Distribution<br />
Utilities - Is Tr<strong>an</strong>sition Efficiency Enh<strong>an</strong>cing“<br />
Astrid Cullm<strong>an</strong>n (DIW – Germ<strong>an</strong> Institute for Economic Research) 1 ,<br />
Christi<strong>an</strong> von Hirschhausen (Dresden <strong>University</strong> <strong>of</strong> <strong>Technology</strong>) 2<br />
Abstract<br />
As the liberalization <strong>an</strong>d regulation <strong>of</strong> Europe<strong>an</strong> electricity markets is proceeding, so are the scientific<br />
methods to assess the productivity <strong>of</strong> electricity comp<strong>an</strong>ies. This paper highlights the relev<strong>an</strong>ce <strong>of</strong><br />
qu<strong>an</strong>titative efficiency studies for the regulation process <strong>of</strong> electricity distribution utilities. As the<br />
Europe<strong>an</strong> Union is extending eastwards, there is <strong>an</strong> increased need to integrate the new member<br />
states’ industry in Europe<strong>an</strong>-wide competitiveness <strong>an</strong>d perform<strong>an</strong>ce measurement.<br />
This paper is the first dynamic efficiency <strong>an</strong>alysis <strong>of</strong> electricity distribution in Pol<strong>an</strong>d, the largest<br />
electricity producer <strong>an</strong>d distributor in Central Europe. We consider a p<strong>an</strong>el <strong>of</strong> 33 distribution utilities<br />
operating over a seven-year period (1997-2003). We compare the relative efficiency <strong>of</strong> regional<br />
distribution comp<strong>an</strong>ies (RDCs) using common benchmarking methods: the non-parametric Data<br />
Envelopment Analysis (DEA), the non-parametric Free Disposal Hull (FDH), <strong>an</strong>d, as a parametric<br />
approach, the Stochastic Frontier Analysis (SFA). Sensitivity <strong>an</strong>alysis for the non parametric efficiency<br />
estimates is conducted by me<strong>an</strong>s <strong>of</strong> the bootstrap method described by Simar <strong>an</strong>d Wilson (1998). This<br />
paper discusses <strong>an</strong>d applies alternative approaches <strong>an</strong>d specifications for p<strong>an</strong>el data models<br />
including technical <strong>an</strong>d geographical as well as monetized cost data. Following e.g. Greene (2005) we<br />
apply econometric frontier models to distinguish unobserved firm-specific heterogeneity from<br />
inefficiency. Further we measure <strong>an</strong>d decompose productivity ch<strong>an</strong>ge with Malmquist indices. First<br />
results indicate that the Polish distribution comp<strong>an</strong>ies are cost inefficient. The presence <strong>of</strong> increasing<br />
returns to scale indicates that the regulatory authority should consider inducing the merger process <strong>of</strong><br />
small electricity distribution comp<strong>an</strong>ies into larger units.<br />
Besides the application <strong>of</strong> efficiency benchmarking to the Polish electricity sector, the paper also<br />
shows adv<strong>an</strong>ced qu<strong>an</strong>titative approaches that will be increasingly used in other EU countries as well.<br />
Keywords: Efficiency <strong>an</strong>alysis, econometric methods, electricity distribution, Pol<strong>an</strong>d, DEA, SFA<br />
JEL Classification: L51, L43, P31, C1<br />
Astrid Cullm<strong>an</strong>n is Research Associate at DIW Berlin, the Germ<strong>an</strong> Institute for Economic Research;<br />
specialization in efficiency <strong>an</strong>alysis <strong>of</strong> Germ<strong>an</strong> ( “Applied Economics”, 2005) <strong>an</strong>d East Europe<strong>an</strong><br />
electricity utilities (Pol<strong>an</strong>d, Hungary, Czech Republic, Slovakia).<br />
Christi<strong>an</strong> von Hirschhausen is Pr<strong>of</strong>essor <strong>of</strong> Energy Economics <strong>an</strong>d Public Sector M<strong>an</strong>agement at<br />
Dresden <strong>University</strong> <strong>of</strong> <strong>Technology</strong>, <strong>an</strong>d Research Pr<strong>of</strong>essor at DIW Berlin. Recent work on efficiency<br />
measurement <strong>of</strong> Germ<strong>an</strong> electricity distribution comp<strong>an</strong>ies.<br />
1 Dept. <strong>of</strong> International Economics, DIW Berlin (Germ<strong>an</strong> Institute for Economic Research);<br />
Koenigin-Luise-Str. 5, D- 14195 Berlin (Germ<strong>an</strong>y); Tel.: +49-30-89789-247;<br />
e-mail: acullm<strong>an</strong>n@diw.de, Url: www.diw.de;<br />
2 TU Dresden, Lehrstuhl für Energiewirtschaft, 01062 Dresden;<br />
e-mail: cvh@mailbox.tu-dresden.de, Url: www.ee2.biz;