Electricity pricing behavior in Finland:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Helsinki
Helsinki School of Economics
1992
|
| Series: | Kauppakorkeakoulu <Helsinki>: Acta Academiae Oeconomicae Helsingiensis / A
83 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | 268 S. |
| ISBN: | 9517021348 |
Staff View
MARC
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Record in the Search Index
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| adam_text | 5
¦¦¦¦¦¦¦¦^¦l table of contents ¦¦¦^¦¦¦¦¦^¦¦i
ACKNOWLEDGEMENTS 3
LIST OF FIGURES 8
LIST OF TABLES 9
LIST OF APPENDICES 10
1. INTRODUCTION 12
1.1. Natural monopoly, regulated monopoly,
customer classes and price discrimina¬
tion 12
1.2. Objectives and outline of the re¬
search 17
2. THEORETICAL BACKGROUND FOR ELECTRICITY PRICING . . 2 3
2.1. Neoclassical approach: welfare, effi¬
ciency, and cost subadditivity in mo¬
nopoly pricing 24
2.1.1. Economies of scale, joint
production and cross subsidi¬
zation 27
2.1.2. Marginal cost pricing and
long run marginal cost (LRMC)
pricing principles 31
2.1.3. Full cost pricing principle . . 33
2.1.4. Ramsey pricing and theory of
second best prices 3 6
2.2. Management accounting approach 41
2.3. Production cost structure and pricing . . 44
2.4. Pricing practices 47
2.4.1. General tariff or normal two
part tariff 49
2.4.2. Peak load pricing ....... 49
2.4.3. Hopkinson demand rate sched¬
ule (HDR pricing) 52
2.4.4. Declining block rate sched¬
ule 52
2.4.5. Inverted block rate schedule . . 53
2.5. Bounded rationality, managerial and
behavioral aspects in electricity
pricing 54
2.6. Regulation and national differences in
electricity pricing systems 59
2.7. Summary of the pricing objectives .... 63
3. ELECTRICITY PRICING IN FINLAND, THE HYPOTHESES
AND A MODEL 68
3.1. Prerequisites for the hypotheses .... 69
3.2. Hypotheses about prices and company
characteristics 70
3.3. Hypotheses about prices and economic
performance 7 2
6
3.4. Hypotheses about production cost
structure and cross subsidy of prices . . 73
3.5. Hypotheses about social and miscella¬
neous pricing characteristics 75
3.6. Methodological considerations 77
3.7. Objectives and the basic structure for
the model 83
3.8. Refined model structure including the
hypotheses 88
4. MATERIAL AND MANIFEST VARIABLES OF THE STUDY ... 90
4.1. General description of the data used . . 90
4.1.1. Study population 90
4.1.2. Data collection procedure ... 91
4.1.3. Age and timing of the data ... 92
4.1.4. Questionnaires 93
4.1.5. Corrections for missing data . . 94
4.2. Tariffs and tariff data 95
4.3. Standardization of the electricity
prices 97
4.4. Financial ratios 101
4.5. Opinion data and other key data used . . 104
5. STATISTICAL TEST OF THE MODEL 106
5.1. Summary of the statistical procedure . . 106
5.2. Variable construction 108
5.2.1. Basic variables 108
5.2.2. Financial variables HI
5.2.2.1. Initial factoring of
the financial vari¬
ables 112
5.2.2.2 More detailed fac¬
toring of the finan¬
cial variables .... 114
5.2.2.3 Liguidity and prof¬
itability 117
5.2.3. Attitude variables 120
5.2.3.1. Maximum likelihood
solutions 121
5.2.3.2. Maximum likelihood
two factor solution . . 123
5.2.3.3. Maximum likelihood
and PC seven factor
solutions 125
5.2.4. Price variables 129
5.3. Basic statistics 131
5.4. Reliability of the manifest and factor
variables 132
5.5. Standardization of the variables .... 134
5.6. Models 136
5.6.1. Two attitude factors and to¬
tal mean price model 137
5.6.2. Two attitude factors and two
price factors model 150
5.6.3. Seven attitude factors and
the total mean price model . . . 155
5.6.4. Seven attitude factors and
two price factors model .... 159
7
5.6.5. Influence of the confidence
level 163
5.6.6. Customer class models 167
5.7. Validity of the models 175
5.7.1. Multicollinearity of the mod¬
els 175
5.7.2. Heteroscedasticity of the
models 177
5.7.3. Goodness of fit measures .... 180
5.7.4. Possible relevant variables
and alternative model
designs 181
5.8. Summary of the hypotheses and test
results 186
6. SUMMARY AND CONCLUSIONS 195
6.1. Summary of the research 195
6.2. Conclusions and perspectives for fur¬
ther research 199
BIBLIOGRAPHY 203
8
¦mmH LIST OF FIGURES ¦¦¦¦¦¦¦¦¦¦¦¦¦I
Figure 1.1. The research scheme 22
Figure 2.1. Price feedback in estimating tariffs
based on long run marginal costs
(LRMC) 43
Figure 3.1. Preliminary design principles for the
price level model 84
Figure 3.2. Basic structure and variables of the
price level model 85
Figure 3.3. The model structure after addition of
the hypotheses 88
Figure 5.1. The flow of the statistical procedures
of the research 107
Figure 5.2. Initial scree test of the financial
factors 113
Figure 5.3. Scree plot of eigenvalues; the atti¬
tude variables 122
Figure 5.4. Legend of the models 138
Figure 5.5. Two attitude factors total mean
price model (M052 l) 139
Figure 5.6. Two attitude factors two price fac¬
tors model (Mo52 2) 151
Figure 5.7. Seven attitude factors the total
mean price model (MO57 1) 156
Figure 5.8. Seven attitude factors two price
factors model (M057 2) 160
Figure 5.9. The confirmed hypotheses situated to
the model structure 194
9
BmHHHHHH^HH list of tables IBHIHHHHHHIHHIH
Table 4.1. Definition of reference electricity
consumers 99
Table 5.1. The initial factoring of the financial
variables 114
Table 5.2. The factor describing the relative
growth of district heating 116
Table 5.3. The factor describing the relative
growth of electricity distribution. . . . 116
Table 5.4. The factor describing liquidity 119
Table 5.5. The factor describing profitability
and general financial well being 119
Table 5.6. Number of factors needed; the attitude
variables 123
Table 5.7. The factor describing the perceived
(political) external impact level. . . . 124
Table 5.8. The factor describing the manager s
perceived influence 124
Table 5.9. The factor describing the perceived
external impact level 126
Table 5.10. The factor describing the perceived
economic efficiency orientation 127
Table 5.11. The factor describing the perceived
equity and fairness orientation 127
Table 5.12. The factor describing the perceived
cross subsidy 127
Table 5.13. The factor describing the perceived
social subsidy 128
Table 5.14. The factor describing the perceived
price reflection 128
Table 5.15. The factor describing the perceived
revenue adequacy orientation 128
Table 5.16. The factor describing industrial and
commercial (high voltage) mean pric¬
es 130
Table 5.17. The factor describing household and
farming (low voltage) mean prices. . . . 130
Table 5.18. Lower limits of the latent variable
reliabilities 133
Table 5.19. Adjusted R2s and direct path coeffi¬
cients of TMP, PIND, and PPRI (0.10
significance level) 164
Table 5.20. Adjusted R2s and parameter estimates of
reference consumers (Model MO57 11) . . . 168
Table 5.21. Adjusted R2s and direct path coeffi¬
cients for the reference consumers
(Model M,07 ll) 174
10
¦¦¦¦¦¦¦¦¦¦¦ LIST OF APPENDICES ¦¦¦¦¦¦¦¦¦¦¦¦
Appendix 1. Sample pictures of basic production
functions 219
Appendix 2. The study population 220
Appendix 3. The questionnaires and their cover
letters 221
Appendix 4. The questionnaires and their cover
letters (the Finnish version) 228
Appendix 5.1. Variables of form no 1 235
Appendix 5.2. Variables of forms no 2 and 3, vari¬
ables V100 V102, and constructed vari¬
ables 236
Appendix 6. Mean value corrections and the logical
correction trial 237
Appendix 7. Sample pictures of the tariffs and
load variations of the Helsinki Energy
Board 239
Appendix 8.1. Preliminary factor analysis of the
financial variables 240
Appendix 8.2. Factor analysis of the growth vari¬
ables 241
Appendix 8.3. Factor analysis of the financial ra¬
tios 243
Appendix 8.4. Factor analysis of the attitude vari¬
ables, two factor solution (Promax
rotation) 245
Appendix 8.5. Factor analysis of the attitude vari¬
ables, seven factor solution (Promax
rotation) 247
Appendix 8.6. Factor analysis of the attitude vari¬
ables, seven factor solution (Kaiser
Harris rotation) 249
Appendix 8.7. Factor analysis of reference customer
mean prices 251
Appendix 9.1. Frequency distributions of variables
Kl, K2, Ml and M2 253
Appendix 9.2. Frequency distributions of variables
LI, L2, Tl and T2PJ 254
Appendix 9.3. Frequency distributions of variables
T2SJ, T3, T4 and TMP 255
Appendix 9.4. Frequency distributions of variables
SI2E, CPRI, ELDI and EFPE 256
Appendix 9.5. Frequency distributions of variables
BACP and HYDR 257
Appendix 10. Correlation analysis of the model
variables 258
Appendix ll.l. Sample regression procedure (variable
TMP; 0.05 significance level) 263
Appendix 11.2. Sample regression procedure (variable
EFPE, 0.05 significance level) 264
Appendix 11.3. Sample regression procedure (variable
EXIM, 0.05 significance level) 265
11
Appendix 11.4. Sample regression procedure (variable
Kl, 0.05 significance level) 266
Appendix 12. Maximum condition index statistics of
the regressor variables 267
Appendix 13. Heteroscedasticity statistics of the
dependent variables 268
|
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| geographic_facet | Finnland |
| id | DE-604.BV009007884 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-09T17:28:27Z |
| institution | BVB |
| isbn | 9517021348 |
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| physical | 268 S. |
| publishDate | 1992 |
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| publisher | Helsinki School of Economics |
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| series2 | Kauppakorkeakoulu <Helsinki>: Acta Academiae Oeconomicae Helsingiensis / A |
| spelling | Rännäri, Osmo Verfasser aut Electricity pricing behavior in Finland Osmo Rännäri Helsinki Helsinki School of Economics 1992 268 S. txt rdacontent n rdamedia nc rdacarrier Kauppakorkeakoulu <Helsinki>: Acta Academiae Oeconomicae Helsingiensis / A 83 Elektriciteitsverbruik gtt Energieprijzen gtt Electric utilities Rates Finland Elektrizitätswirtschaft (DE-588)4014228-0 gnd rswk-swf Preisbildung (DE-588)4047103-2 gnd rswk-swf Finnland Finnland (DE-588)4017243-0 gnd rswk-swf Finnland (DE-588)4017243-0 g Elektrizitätswirtschaft (DE-588)4014228-0 s Preisbildung (DE-588)4047103-2 s DE-604 A Kauppakorkeakoulu <Helsinki>: Acta Academiae Oeconomicae Helsingiensis 83 (DE-604)BV008914862 83 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=005954574&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Rännäri, Osmo Electricity pricing behavior in Finland Elektriciteitsverbruik gtt Energieprijzen gtt Electric utilities Rates Finland Elektrizitätswirtschaft (DE-588)4014228-0 gnd Preisbildung (DE-588)4047103-2 gnd |
| subject_GND | (DE-588)4014228-0 (DE-588)4047103-2 (DE-588)4017243-0 |
| title | Electricity pricing behavior in Finland |
| title_auth | Electricity pricing behavior in Finland |
| title_exact_search | Electricity pricing behavior in Finland |
| title_full | Electricity pricing behavior in Finland Osmo Rännäri |
| title_fullStr | Electricity pricing behavior in Finland Osmo Rännäri |
| title_full_unstemmed | Electricity pricing behavior in Finland Osmo Rännäri |
| title_short | Electricity pricing behavior in Finland |
| title_sort | electricity pricing behavior in finland |
| topic | Elektriciteitsverbruik gtt Energieprijzen gtt Electric utilities Rates Finland Elektrizitätswirtschaft (DE-588)4014228-0 gnd Preisbildung (DE-588)4047103-2 gnd |
| topic_facet | Elektriciteitsverbruik Energieprijzen Electric utilities Rates Finland Elektrizitätswirtschaft Preisbildung Finnland |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=005954574&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| volume_link | (DE-604)BV008914862 |
| work_keys_str_mv | AT rannariosmo electricitypricingbehaviorinfinland |