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Incentive Effects of Rate-of-Return Regulation in Hong Kong

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  • Lam, Pun-Lee

Abstract

A recent paper published by this journal (Peles and Whittred 1996) discussed the regulatory arrangement of the Scheme of Control in Hong Kong. Instead of encouraging electric utilities to finance their assets proportionately more by equity as argued by the authors, the Scheme has in fact given them an incentive to rely on debt financing. A major incentive aspect of the Scheme lies in the formation of a development fund for making internal transfers. This development fund arrangement has provided an incentive for the two electric utilities to improve efficiency and has facilitated the expansion of the electric power industry. Copyright 1997 by Kluwer Academic Publishers

Suggested Citation

  • Lam, Pun-Lee, 1997. "Incentive Effects of Rate-of-Return Regulation in Hong Kong," Journal of Regulatory Economics, Springer, vol. 12(3), pages 319-325, November.
    • Handle: RePEc:kap:regeco:v:12:y:1997:i:3:p:319-25
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    Cited by:

    1. Lam, Pun-Lee, 1999. "Regulatory effects on electricity prices in Hong Kong," Energy Economics, Elsevier, vol. 21(6), pages 528-544, December.
    2. Woo, C.K. & Cheng, Y.S. & Law, A. & Zarnikau, J. & Ho, S.T. & Leung, H.Y., 2015. "Consumer support for a public utilities commission in Hong Kong," Energy Policy, Elsevier, vol. 76(C), pages 87-97.
    3. Lo, Alex Y.H., 2008. "Merging electricity and environment politics of Hong Kong: Identifying the barriers from the ways that sustainability is defined," Energy Policy, Elsevier, vol. 36(4), pages 1521-1537, April.
    4. Chen, Andrew & Hwang, Yuhchang & Shao, Benjamin, 2005. "Measurement and sources of overall and input inefficiencies: Evidences and implications in hospital services," European Journal of Operational Research, Elsevier, vol. 161(2), pages 447-468, March.

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