Zur Weiterentwicklung der Kapitalkostenvergütung in der Anreizregulierung

Ivan Jurić

ZögU - Zeitschrift für öffentliche und gemeinwirtschaftliche Unternehmen, 2020, vol. 43, issue 1-2, 18-34

Abstract: To ensure sustainable infrastructure investments in the future, the German regulatory system needs to make adjustments to the method of calculating capital costs. Today’s system is deemed to be very time-consuming and non-transparent and also leads to systematical and methodical disadvantages for a wide range of DSO’s. The Federal Network Agency proposes to apply generalizations in the calculation of capital costs to resolve these issues. The main goal of this paper is to evaluate possible adjustments in terms of their economic and regulatory benefits. Therefore, possible adjustments will be combined to specific scenarios, which will be tested via an exemplary DSO. The results indicate, that a combined implementation of a WACC and RAB approach as well as a complete transition of the underlying inflation adjustment mechanism is the most appropriate of the tested scenarios.

Date: 2020
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DOI: 10.5771/0344-9777-2020-1-2-18

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ZögU - Zeitschrift für öffentliche und gemeinwirtschaftliche Unternehmen is currently edited by Prof. Dr. Frank Schulz-Nieswandt, Universität Köln (geschäftsführend), Prof. Dr. Thomas Lenk, Universität Leipzig, Prof. Dr. Holger Mühlenkamp, Deutsche Universität für Verwaltungswissenschaften Speyer, Prof. Dr. Johann Christian Pielow, Ruhr-Universität Bochum, Prof. Dr. Christina Schaefer, Helmut Schmidt Universität, Universität der Bundeswehr Hamburg, Prof. Dr. Ludwig Theuvsen, Georg-Augustin-Universität Göttingen and Prof. Dr. Dieter Kurt Tscheulin, Albert-Ludwigs-Universität Freiburg

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