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| Miniaci, Raffaele; Scarpa, Carlo; Valbonesi, Paola. |
| Competition in public utility sectors has been encouraged in recent years throughout Europe. In this paper we try and analyse the welfare effects of these reforms in Italy, with particular attention to water and energy goods. The first step is to introduce a sensible measure of affordability of public utilities and to see how many households fall below a critical threshold. This issue is analysed stressing how climatic conditions dramatically affect households expenditure and how the affordability of utility bills varies a lot from region to region. So far, utilities reforms do not seem to have produced negative effects on the weaker group of households. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2005 |
URL: http://purl.umn.edu/12114 |
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| Moretto, Michele; Valbonesi, Paola. |
| To avoid high profit levels often experienced in countries where monopolies in public utility sectors are regulated through price-cap mechanisms, several regulatory agencies have recently introduced profit-sharing (PS) clauses aimed at obtaining price reductions to the benefit of consumers. However, the implementation of these PS clauses has often turned out to be severely con- trained by the incompleteness of the price-cap itself and the non-verifiability of firmsprofits. This paper studies the properties of a second-best optimal PS mechanism designed by the regulator to induce the regulated monopolist to divert part of its profits to custormers. In a dynamic model where a reg- ulated monopolist manages a long-term franchise contract and the regulator... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Financial Economics. |
| Ano: 2006 |
URL: http://purl.umn.edu/12202 |
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