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ID:
168346
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| Summary/Abstract |
Since 1980s, China has experienced a series of reforms to support the development of electricity industry, and the latest one is in 2015. The essence of this new reform is to improve efficiency and lower energy cost. However, China's electricity market has its particularity. The “provinces as entities” is the main regulation frame in China's electricity sector. The operation of the electricity industry can be seen as a game result and interest compromise between the local government and grid companies, and this “win-win exchange” regulation failure leads to grid market power. The profit mode of the grid enterprises will be gradually changed with the deepening of new electricity reform. How to regulate electricity transmission and distribution sector and improve grid efficiency becomes a crucial problem to address. This paper aims to examine the relationship between market power and power grid efficiency. We calculate the unconditional and conditional efficiency of grid companies by applying a conditional slack-based measure (SBM) model. The empirical results show that grid efficiency is at a low level and the indicators differ among provinces and regions. Moreover, market power indeed has significant negative effects on power grid efficiency. These findings provide some insightful references for the future development of China's power industry and electricity reform.
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| 2 |
ID:
150468
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| Summary/Abstract |
Air pollution is one of the most predominant challenges in China. In order to ensure the smog governance projects could be promoted smoothly and the public shoulder the environmental responsibilities consciously, it is necessary for the policymakers to take public attitude into consideration, and understand the public willingness to pay (WTP) for smog mitigation. This paper adopts a CV method framework to assess the value of WTP and analyze the determinants. Given the consideration of the possible presence of the selectivity bias caused by protest responses, the bivariate sample selection model is constructed for estimation. Results show that up to 14% of respondents hold the protest responses, and neglecting the selection bias caused by protest responses would lead to downward biased estimates. The mean value of WTP for the smog mitigation is 1590.36 RMB per year, accounting for about 1% of annual income. Moreover, the NIMBY (not in my backyard) attitude among public is found to be significantly correlated with their WTP, and the other determinants such as household annual income, energy expenditure and economic loss caused by smog could also substantially affect the value of WTP. We further recommend grading governance and policy transparency to address the smog crisis.
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