Abstract
This study compares empirically various measures of performance of electric utilities and determines whether there are significant differences in the measures. Data of electric utilities in four countries in Northeast and Southeast Asia were used to calculate the four measures: the Fisher geometric total factor productivity (TFP) index, Tömqvist-Theil bilateral translog TFP index, multilateral translog TFP index, and the Best Practice Frontier Analysis (BPFA) efficiency scores. The indices obtained were then regressed against technical performance variables (load factor, transmission and distribution losses, thermal efficiency, thermal generation share, plant factor and demand density) and country dummy variables. The results show that the bilateral and geometric indices were quite similar, while significant differences were observed when comparing either index with the multilateral index or the BPFA scores. The study therefore suggests that one needs to be careful in using just one type of measure to compare productivity of utilities, since different types of productivity indices give varying interpretations. Further detailed investigation based on the theoretical framework is being carried out to determine which type of index would be most appropriate for use in comparing performance of electric utilities.
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