Privatization in the natural gas sector: a general equilibrium analysis

A broad literature highlights efficiency gains due to cost reduction after privatizations in the energy sector. However, to the best of our knowledge, this literature does not develop general equilibrium models, which are fundamental to account for post-privatization gains from a regional perspectiv...

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Detalles Bibliográficos
Autores: Delalibera, Bruno R., Serrano Quintero, Rafael, Zimmermann, Guilherme G.
Tipo de recurso: artículo
Estado:Versión publicada
Fecha de publicación:2023
País:España
Institución:Universidad de Barcelona
Repositorio:Dipòsit Digital de la UB
OAI Identifier:oai:diposit.ub.edu:2445/202008
Acceso en línea:https://hdl.handle.net/2445/202008
Access Level:acceso abierto
Palabra clave:Privatització
Gas natural
Privatization
Natural gas
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spelling Privatization in the natural gas sector: a general equilibrium analysisDelalibera, Bruno R.Serrano Quintero, RafaelZimmermann, Guilherme G.PrivatitzacióGas naturalPrivatizationNatural gasA broad literature highlights efficiency gains due to cost reduction after privatizations in the energy sector. However, to the best of our knowledge, this literature does not develop general equilibrium models, which are fundamental to account for post-privatization gains from a regional perspective. This paper evaluates the increase in efficiency necessary to make the privatization of a natural gas local distribution company (LDC) worthwhile in a state-level fiscal sense. We propose a general equilibrium model representing a regional economy supplied by a monopolistic LDC, whose ownership is shared between the private sector and federal and state governments and calibrate it for 13 of the major Brazilian LDCs. We find that the necessary unit cost reduction varies substantially across LDCs and depends on the level of underpricing when the asset is sold. The necessary unitary cost reductions range from 1.6% to 64% when we consider the median level of underpricing found in the literature.Centro de Investigación y Docencia Económicas2023info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://hdl.handle.net/2445/202008Articles publicats en revistes (Economia)reponame:Dipòsit Digital de la UBinstname:Universidad de BarcelonaInglésReproducció del document publicat a: https://doi.org/10.47872/laer.v32.199Latin American Economic Review, 2023, vol. 32https://doi.org/10.47872/laer.v32.199cc-by-nc-nd (c) Delalibera, Bruno R. et al., 2023https://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessoai:diposit.ub.edu:2445/2020082026-05-27T06:46:51Z
dc.title.none.fl_str_mv Privatization in the natural gas sector: a general equilibrium analysis
title Privatization in the natural gas sector: a general equilibrium analysis
spellingShingle Privatization in the natural gas sector: a general equilibrium analysis
Delalibera, Bruno R.
Privatització
Gas natural
Privatization
Natural gas
title_short Privatization in the natural gas sector: a general equilibrium analysis
title_full Privatization in the natural gas sector: a general equilibrium analysis
title_fullStr Privatization in the natural gas sector: a general equilibrium analysis
title_full_unstemmed Privatization in the natural gas sector: a general equilibrium analysis
title_sort Privatization in the natural gas sector: a general equilibrium analysis
dc.creator.none.fl_str_mv Delalibera, Bruno R.
Serrano Quintero, Rafael
Zimmermann, Guilherme G.
author Delalibera, Bruno R.
author_facet Delalibera, Bruno R.
Serrano Quintero, Rafael
Zimmermann, Guilherme G.
author_role author
author2 Serrano Quintero, Rafael
Zimmermann, Guilherme G.
author2_role author
author
dc.subject.none.fl_str_mv Privatització
Gas natural
Privatization
Natural gas
topic Privatització
Gas natural
Privatization
Natural gas
description A broad literature highlights efficiency gains due to cost reduction after privatizations in the energy sector. However, to the best of our knowledge, this literature does not develop general equilibrium models, which are fundamental to account for post-privatization gains from a regional perspective. This paper evaluates the increase in efficiency necessary to make the privatization of a natural gas local distribution company (LDC) worthwhile in a state-level fiscal sense. We propose a general equilibrium model representing a regional economy supplied by a monopolistic LDC, whose ownership is shared between the private sector and federal and state governments and calibrate it for 13 of the major Brazilian LDCs. We find that the necessary unit cost reduction varies substantially across LDCs and depends on the level of underpricing when the asset is sold. The necessary unitary cost reductions range from 1.6% to 64% when we consider the median level of underpricing found in the literature.
publishDate 2023
dc.date.none.fl_str_mv 2023
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv https://hdl.handle.net/2445/202008
url https://hdl.handle.net/2445/202008
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Reproducció del document publicat a: https://doi.org/10.47872/laer.v32.199
Latin American Economic Review, 2023, vol. 32
https://doi.org/10.47872/laer.v32.199
dc.rights.none.fl_str_mv cc-by-nc-nd (c) Delalibera, Bruno R. et al., 2023
https://creativecommons.org/licenses/by-nc-nd/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv cc-by-nc-nd (c) Delalibera, Bruno R. et al., 2023
https://creativecommons.org/licenses/by-nc-nd/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Centro de Investigación y Docencia Económicas
publisher.none.fl_str_mv Centro de Investigación y Docencia Económicas
dc.source.none.fl_str_mv Articles publicats en revistes (Economia)
reponame:Dipòsit Digital de la UB
instname:Universidad de Barcelona
instname_str Universidad de Barcelona
reponame_str Dipòsit Digital de la UB
collection Dipòsit Digital de la UB
repository.name.fl_str_mv
repository.mail.fl_str_mv
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