Vertical separation of the energy-distribution industry; an assessment of several options for unbundling

The Dutch Minister of Economic Affairs has proposed to replace the currently implemented structure of legal unbundling of the energy distribution industry by ownership unbundling. In this study we analyse the costs and benefits of this proposal. We compare the proposal�to the current situation and to two alternative options that strengthen legal unbundling. We identify four mutually-related categories of benefits: better performance of networks, more efficient regulation, improved effectiveness of competition, and benefits of privatisation; and three categories of costs: one-off transaction costs, loss of economies of scope and the risk of less investment in generation. The analysis highlights that the benefits depend on the future development in small-scale generation and on allocation of the management of transmission networks. Mainly because of the uncertainty about the future role of small-scale generation and the uncertainty about the magnitude of the one-off transaction costs related to cross-border leases, the net welfare effect of ownership unbundling at the distribution level is ambiguous. We identify an alternative route for achieving some of the benefits considered.

The impact of competition on productive efficiency in European railways

This paper empirically explores the relationship between competition design and productive efficiency in the railway industry. We use Data Envelopment Analysis (DEA) to construct efficiency scores, and explain these scores, using variables reflecting institutional factors and competition design. Our results suggest that competitive tendering improves productive efficiency, which is in line with economic intuition as well as with expectations on the design of competition. We also find that free entry lowers productive efficiency. A possible explanation for this result is that free entry may disable railway operators to reap economies of density. Our final result is that more autonomy of management lowers productive efficiency. Most of the incumbent railway companies are state owned and do not face any competitive pressure. As a consequence, increased independence without sufficient competition and adequate regulation may deteriorate incentives for productive efficiency.

Latino Protestants and Their Political and Social Engagement (Chapter Six of Latino Protestants in America: Growing and Diverse)

Excerpt: On a rainy early spring morning in a modest brick Presbyterian church just outside the Fruitvale neighborhood of Oakland, California, sixtyfour worshippers gather. The entire worship is in Spanish. During the sermon, the pastor makes a passing reference to how few of the attenders now live in Oakland proper, that many have to drive farther than ever for church services. The implicit message: the leadership of the church realizes that gentrification of San Francisco has spilled over the Bay Bridge and now threatens the availability of affordable housing throughout Oakland. In response, the congregation has started programs that offer legal advice for responding to rent-hiking landlords and identifying housing options around the city. Though resources and attenders tend to be somewhat scarce, the leadership has creatively organized in an effort to address the structural and policy concerns of housing. Beyond that, the pastor proudly notes that this church readily offers immigration status services, computer classes, and English classes

NITROS An Innovative Training Program to Enhance Rotorcraft Safety

No abstract available

Urban Growth, Community, and the Environment: An Experiential Pedagogy

Some scholars have described urban sprawl as America\u27s most pressing environmental issue. As educators we are acutely interested in unearthing new methods for engaging students in these types of topics. In this paper we describe a unique interdisciplinary and experiential course that we have designed to introduce students of various academic programs to the attendant issues of urban sprawl

Competition and interest rates in the Dutch mortgage market: an econometric analysis over 2004-2010

Triggered by evidence that the mortgage interest margins have risen since 2009, an econometric analysis is conducted to explain the interest rates in the Dutch mortgage market at the bank level ver 2004 – 2010. Controlling for the influence of costs, risks and also for some regulatory measures, we find statistically significant evidence that the degree of competition in the Dutch mortgage market (measured by C3 or HHI) affected the level of the mortgage interest rates. An increase in market concentration equal to the size of its standard deviation over the period of analysis raised the mortgage interest rate by approximately 0.10 to 0.20 percentage points. The impact of costs as well as risks appears to be about twice as large as the impact of market concentration.