The 1996-97 Gas Price Review in Argentina

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dc.contributor.author
Gomez-Labo, Andres
en_US
dc.contributor.author
Foster, Vivien
en_US
dc.date.accessioned
2012-08-13T15:13:13Z
en_US
dc.date.available
2012-08-13T15:13:13Z
en_US
dc.date.issued
1999-04
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dc.identifier.citation
Viewpoint -- Note No. 181 (April 1999)
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dc.identifier.uri
http://hdl.handle.net/10986/11493
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dc.description.abstract
Argentina's natural gas industry was privatized at the end of 1992. Prior to divestiture, the state-owned monopoly Gas del Estado was divided into two transport and eight distribution companies, all of which were sold through international bidding. An independent government body, Ente Naal Regulador de Gas (Enargas), was established to regulate the transport and distribution segments of the industry. As part of its mandate, Enargas is in charge of price reviews. These reviews, which occur every five years, determine the allowed tariffs for each transport and distribution company. The first such review took place in 1996-97, and the new tariffs went into effect in January 1998. This Note examines the methodology and outcome of this experience. The Enargas price review is of interest for several reasons. First, it is the first of its kind in Argentina, and one of the first in a developing country. The outcome of the process provides a test of the regulatory framework adopted by the Argentine government, and may influence regulatory reform in other parts of the world. Second, as the first such event, the 1996-97 review set a precedent for methodologies and approaches to be used in future utility price reviews in Argentina. Finally, the approach used to calculate the cost of capital-as well as the other parameters used to set prices-provide an interesting illustration of how theoretical and practical methods from regulatory practice in industrial countries can be adapted to developing countries, where data availability and other restrictions prevent a direct transfer of techniques.
en_US
dc.language
English
en_US
dc.publisher
World Bank, Washington, DC
en_US
dc.relation.ispartofseries
Viewpoint
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dc.rights
CC BY 3.0 Unported
en_US
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/
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dc.subject
GAS PRICES
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dc.subject
ASSETS
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dc.subject
BONDS
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dc.subject
CASH FLOW ANALYSIS
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dc.subject
CASH FLOWS
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dc.subject
CONSTRUCTION
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dc.subject
CONSUMERS
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dc.subject
COST OF CAPITAL
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dc.subject
DEBT
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dc.subject
DEPRECIATION
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dc.subject
ECONOMIC RESEARCH
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dc.subject
EQUITY CAPITAL
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dc.subject
GAS
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dc.subject
INCOME
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dc.subject
INDEXATION
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dc.subject
INFLATION
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dc.subject
INTEREST RATE
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dc.subject
INVENTORY
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dc.subject
LEGISLATION
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dc.subject
MARKET VALUE
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dc.subject
MATURITIES
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dc.subject
MONOPOLIES
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dc.subject
OPERATING COSTS
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dc.subject
OPPORTUNITY COST
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dc.subject
POPULATION DENSITIES
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dc.subject
PRESENT VALUE
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dc.subject
PRODUCTIVITY
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dc.subject
PRODUCTIVITY INCREASES
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dc.subject
PURCHASE PRICE
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dc.subject
REGULATORY CAPTURE
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dc.subject
REGULATORY FRAMEWORK
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dc.subject
REGULATORY REGIMES
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dc.subject
RISK PREMIUM
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dc.subject
SOVEREIGN RISK
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dc.subject
TIME SERIES
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dc.subject
TOTAL FACTOR PRODUCTIVITY
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dc.subject
TOTAL FACTOR PRODUCTIVITY ANALYSIS
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dc.subject
TRANSPORT
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dc.subject
VALUATION
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dc.subject
VEC
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dc.subject
YIELD TO MATURITY
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dc.subject
NATURAL GAS
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dc.subject
MONOPOLIES
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dc.subject
BIDDING
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dc.subject
TARIFFS
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dc.subject
TECHNOLOGY
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dc.subject
REGULATORY FRAMEWORK
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dc.subject
METHODOLOGY
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dc.subject
COST OF CAPITAL
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dc.subject
DEVELOPING COUNTRIES
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dc.subject
GAS SUPPLY ASSET PRICING
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dc.title
The 1996-97 Gas Price Review in Argentina
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okr.identifier.externaldocumentum
000090341_20031001125011
en_US
okr.identifier.internaldocumentum
2529867
en_US
okr.volume
1 of 1
en_US
okr.topic
Urban Development :: Municipal Financial Management
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okr.topic
Banks and Banking Reform
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okr.topic
Economic Theory and Research
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okr.topic
Water Resources :: Water and Industry
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okr.topic
Environmental Economics and Policies
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okr.topic
Finance and Financial Sector Development
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okr.topic
Macroeconomics and Economic Growth
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okr.topic
Environment
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okr.sector
Energy and mining :: Oil and gas
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okr.region.administrative
Latin America & Caribbean
en_US
okr.identifier.report
26831
en_US
okr.unit
Off of VP
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okr.unit
FPD&IFC Chief Econ-WB (FPDVP)
en_US
okr.region.country
Argentina
en_US
okr.doctype
Publications & Research :: Viewpoint
en_US
okr.doctype
Publications & Research
en_US
dc.rights.holder
World Bank
en_US
okr.googlescholar.linkpresent
yes

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