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A Critical Comparison of Utility-Type Ratemaking Methodologies in Oil Pipeline Regulation

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  • Peter Navarro
  • Bruce C. Petersen
  • Thomas R. Stauffer

Abstract

This article tests the efficacy of four formulas for specifying regulated utility rates. All exhibit "intertemporal bias" in that rates are disproportionately and seriously shifted forward upon current consumers ("front-end loading"), although the ICC and Consent Decree formulas yield rates less skewed than the utility and escalated utility rate formulas. "Formula bias" arises in all cases, because the ex post

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  • Peter Navarro & Bruce C. Petersen & Thomas R. Stauffer, 1981. "A Critical Comparison of Utility-Type Ratemaking Methodologies in Oil Pipeline Regulation," Bell Journal of Economics, The RAND Corporation, vol. 12(2), pages 392-412, Autumn.
    • Handle: RePEc:rje:bellje:v:12:y:1981:i:autumn:p:392-412
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    Cited by:

    1. William P. Rogerson, 1989. "Optimal Depreciation Schedules for Regulated Utilities," Discussion Papers 852, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

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