An agency perspective on the accounting costs used in various roles in the regulation of a state-owned natural monopoly: The British Gas Corporation 1972-86

W. M. McInnes

Accounting History Review, 2002, vol. 12, issue 3, 387-418

Abstract: This study describes and analyses the accounting costs reported in the financial statements of the British Gas Corporation (BGC) during its fourteen years (1972-86) as a state-owned natural monopoly. Evidence is provided of the various roles in which these accounting costs were used in the regulation of the corporation. The agency perspective developed by Whittington (1985) is used to provide an analytical framework for discussion of the effects of BGC's accounting costs on the allocation of burdens and rewards between gas consumers and taxpayers through being used in these various roles. Further analytical insights are drawn from developments subsequent to privatisation in 1986.

Keywords: Accounting Costs; Long Run Marginal Costs; Financial Statements; State-OWNED; Natural Monopoly; Gas Consumers; Taxpayers (search for similar items in EconPapers)
Date: 2002
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DOI: 10.1080/09585200210164575

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