Portal de Periódicos da CAPES

Benchmark regulation in Brazil

2008; Emerald Publishing Limited; Volume: 2; Issue: 1 Linguagem: Inglês

10.1108/17506220810859097

1750-6239

Sidney Tozzini,

Corporate Finance and Governance

Purpose – The regulation model used by Agência Nacional de Energia Elétrica (ANEEL) (Brazilian National Agency of Electric Energy) brings together the incentive regulation approach (price cap) and benchmarking practices to establish the “efficient” operational costs of regulated companies using a “shadow” or “reference” firm. The specific objective is to evaluate in what extent the adoption of the “reference firm” would condition the strategic goals of the regulated firms.