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ID:
137665
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| Summary/Abstract |
Hong Kong's electricity service is superbly reliable and price-reasonable when compared to those of the major cities in the OECD countries. Based on the rate of return regulation in the U.S., the current scheme of control agreement (SCA) regulating the two local integrated investor-owned utilities (IOUs) will expire in 2018 (or in 2023 after an optional 5-year extension), thus offering an opportune time to consider proposals with long lead time to modify or replace the SCA. The proposals made to date range from modifications of the SCA to electricity market restructure. These proposals, however, overlook two important aspects of regulatory governance: transparency and public involvement. This paper estimates consumer support for the proposal to establish a Hong Kong public utilities commission (HKPUC) to improve the current regulatory process. Based on the responses collected in mid-2014 via a face-to-face survey of 1100 Hong Kong residents, we find that at the 1.5% bill surcharge, about 70% the respondents are estimated to support an HKPUC. Thus, there is sufficient consumer support for a financially viable HKPUC, implying that Hong Kong should consider the possibility of establishing an HKPUC, notwithstanding the substantial challenges to be overcome prior to its implementation.
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| 2 |
ID:
109116
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| 3 |
ID:
119811
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| Publication |
2013.
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| Summary/Abstract |
Based on an econometric analysis of the annual growth data for China's GDP and electricity generation from 1953 to 2010, we find that electricity generation growth Granger causes GDP growth, but not vice versa. We also find that the GDP elasticity of electricity generation is about 0.6, implying that a 1% increase in China's electricity generation growth would increase GDP growth by 0.6%. While Deng's reform raised China's GDP growth rate by about 5% per year, it did not alter the GDP elasticity of electricity generation. Hence, an obvious strategy to promote China's economic growth would be accelerating electricity generation expansion. Rapidly adding thermal generation units, however, could have large-scale, adverse environmental impacts. We therefore support China's 2011 five-year plan, which calls for expanding investments in renewable energy, conservation and energy efficiency as well as improving China's integrated electricity planning and cost-based pricing decisions.
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| 4 |
ID:
086007
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| Publication |
2008.
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| Summary/Abstract |
Sino-Venezuelan relations have witnessed an un precedented intimacy since the beginning of Hugo Chavez's presidency in 1990. While scholars hold divergent views on the possible implications of the suddenly improved bilateral relationship from the Chines perspective.
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