Regulatory Commission Research Articles

Illiberal reformers: Economics as hate

AbstractThis review article discusses Leonard’s (2016) study of the ideas of an elite group of Progressive economists who flourished in the United States of America between 1885 and the late 1920s. Advising governments through think tanks and regulatory commissions, they advocated labour market policies that combined a racialized approach to immigration, eugenics, Taylorist labour market efficiency and a living wage. Their interest in women’s employment conditions was based on a Darwinian concern to protect mothers of the ‘white’ race. Parallels are drawn with Australia, where, from the turn of the 20th century, industrial tribunals established a male minimum wage designed to support the maternal role, based on similar racial preoccupations and a view that women’s ‘inefficiency’ as workers would protect men from low-wage competitors. United States Progressives, in rejecting laissez-faire economics, espoused instead a role for the state based on a holistic Darwinian sociology of racial contest: an economics of hate. It was not till the 1930s that Keynesianism emerged as an alternative macroeconomic project.

Trend of De La Salle Lipa Education Graduates’ Performance in the Licensure Examination for Teachers (LET) from 2011 to 2015

This study aimed to examine the trend of performance of De La Salle Lipa (DLSL) education graduates in the Licensure Examination for Teachers (LET). Quantitative trend analysis employed on the data collected from records officially released by the Professional Regulation Commission (PRC) for the years 2011 to 2015 revealed that the performance of both elementary and secondary education passers were significantly higher than the national passing rates and showed a significant relationship between the graduates’ English proficiency and their LET- General Education performance. When grouped according to their profile, there were significant differences in the education graduates’ performance in terms of the year LET was taken, their GPA, and results of English Proficiency and Culture Fair Intelligence Tests but not in terms of their field of specialization. These results were considered in proposing a syllabus incorporating the strategies to further improve the program offerings of the Education Department particularly in terms of curriculum development, recruitment and selection of qualified students, continuous professional training for faculty, and more intensified LET review for the education graduates. Findings of the study showed that DLSL is eligible to qualify as a Center of Development in Teacher Education in the area of instructional quality.

FERC pipeline decommissioning cost in the U.S. Gulf of Mexico, 1995–2015

At the end of its useful life or because of a catastrophic event such as a hurricane, offshore pipelines are decommissioned, which normally involves cleaning the line by pigging or flushing, cutting the pipeline endpoints, and then plugging and burying each endpoint below the seabed or covering with a concrete mattress. The vast majority of decommissioned pipeline in the U.S. Gulf of Mexico is abandoned-in-place if the pipeline does not constitute a hazard to navigation, commercial fishing, or unduly interferes with other uses of the seabed. Using a unique data source from the Federal Energy Regulation Commission, decommissioning cost estimates for 28 gas export pipelines in the shallow water U.S. Gulf of Mexico between 1995 and 2015 are evaluated. The average inflation-adjusted pipeline decommissioning cost was $301,000 per mile ($187,000/km) and $47 per cubic foot ($1660 per cubic meter). Hurricane damaged and leaking pipelines are about three to four times more expensive on a unit cost basis than undamaged and non-leaking lines. No time trends or scale economies were observed. Primary cost drivers are identified and discussed.

New methodology to diagnose reliability of a single distribution circuit in Colombia

El suministro confiable de energía eléctrica es cada vez más importante en el mercado eléctrico colombiano. De esta manera, la Comisión de Regulación de Energía y Gas, (CREG por su sigla en español), ha contratado estudios técnicos a ser llevados a cabo a fin de evaluar la confiabilidad de las empresas del sector eléctrico colombiano. Este trabajo se enfoca en una nueva metodología para diagnosticar la confiabilidad de un circuito individual de distribución a ser utilizado en las empresas del sector eléctrico colombiano. La metodología propuesta incluye el cálculo de índices de confiabilidad conocidos (SAIFI, SAIDI, CAIDI, etc.), así como nuevos índices de confiabilidad con el fin de determinar la incidencia de las causas de falla. Este documento explica algunas características de los archivos requeridos (archivos de entrada y salida) con el fin de ejecutar dos aplicaciones asociadas con la metodología mencionada anteriormente. Estas dos aplicaciones fueron desarrolladas utilizando Microsoft Excel para la Unidad Estratégica de Negocio de Energía de EMCALI EICE ESP, localizada en Santiago de Cali, Valle del Cauca, Colombia, Sudamérica. Este artículo describe algunas características de estas aplicaciones. El primer caso de estudio presentado, sobre la primera aplicación, se calcula sobre la base de esta metodología y los resultados obtenidos se comparan con aquellos obtenidos utilizando el software ETAP. Por último, el segundo caso de estudio, con respecto a la segunda aplicación, se calcula sobre la base de esta metodología y los resultados obtenidos se muestran en este documento.

A Deep Dive into Current US Water Utility Rate Case Issues

Welcome to my first Law & Water column for Journal AWWA. This column addresses legal issues affecting water utilities. I live and work in the United States and rely on sources at or in working with regulatory commissions in the United States for their insights on novel issues and emerging trends. For matters outside the United States, I will tap into experts in those countries where pertinent developments are occurring.

Associations between access to alcohol outlets and alcohol intake and depressive symptoms in women from socioeconomically disadvantaged neighbourhoods in Australia

BackgroundThis study examined associations between alcohol outlet access and alcohol intake, depressive symptoms score and risk of depression among women residing in disadvantaged neighbourhoods in Victoria, Australia.MethodsData on depressive symptoms, alcohol intake and socio-demographic characteristics were obtained from a sample of 995 adult women from Victoria, Australia who were surveyed as part of the Resilience in Eating and Activity Despite Inequality (READI) study. The location of all licensed alcohol outlets in Victoria was obtained from the Victorian Commission for Gambling and Liquor Regulation. Participant and alcohol outlet addresses were geocoded to calculate individual alcohol outlet access, defined as the number of outlets (all and by sub-type) within 0.4 km and 3 km of participants’ homes. Separate regression models with clustered standard errors were fitted to examine associations between access and alcohol intake according to national recommended limits for short- and long-term harm, frequency of consumption above long-term harm guidelines, depressive symptoms score and risk of depression.ResultsOdds of consumption within short-term harm guidelines (≤4 drinks on any day) decreased with increasing access within 3 km, irrespective of outlet type. Typically, there was no evidence to support associations between access and consumption above long-term harm guidelines (>2 drinks on any day) unless considering frequency of consumption at this level where results showed decreased odds of ‘don’t drink’ versus frequently drinking above long-term harm guidelines (i.e., >2 drinks at least once per week) with increasing access at either distance. Although there was no evidence of an association between any of the alcohol outlet access measures and depressive symptoms score, odds of being at risk of depression decreased with increasing access within 3 km.ConclusionsThis study found some evidence to support an association between increasing alcohol outlet densities of all types and harmful levels of alcohol consumption, and the association appears to be dependent on the distance threshold considered, among women residing in socioeconomically disadvantaged neighbourhoods within Victoria, Australia. However, higher numbers of alcohol outlets appear to be associated with a slightly lower risk of depression, with further research needed to identify the direction and mechanisms underlying this unintuitive association.

Market Manipulation Detection Based on Classification Methods

In this paper, we use supervised machine learning methods to detect the market manipulation in China based on the information released by China Securities Regulation Commission (CSRC) and data in the security market. Among the supervised machine learning, we mainly use classification methods to detect the anomaly from the daily and tick trading data of manipulated stocks. As a result, we find that the supervised machine learning methods are good at detecting market manipulation from daily trading data and have poor performance on tick data, based the measure method of accuracy, sensitivity, specificity and area under the curve (AUC). The best used supervised machine learning models are K-Nearest Neighbor (KNN) and Decision Tree (DT) which have over 99% of them.

Exploitative Abuse of a Dominant Position in the Bulgarian Energy Markets

In the last few years the behavior of undertakings operating in the regulated utility markets, such as energy, water and communications, has been in the focus of the Bulgarian Competition Authority (hereinafter, BCA). Typically, these companies are dominant due to their exclusive licenses to operate in a certain territory and thus the contents of their contractual relationships with customers are often defined in general terms and conditions (hereinafter, GTCs) adopted or approved by the respective sector regulator. Most or all aspects of their pricing policy is also subject to sector regulation. By analysing critically two landmark decisions of the BCA concerning abuses of companies active in the energy markets, this paper raises the following questions: (1) to what extent the BCA is competent to intervene and sanction those undertakings for conduct which is subject of regulatory control by the sector regulator (the Energy and Water Regulation Commission (hereinafter, EWRC)) and (2) whether in its enforcement practice against those undertakings, the BCA is following the legal standards adopted by the EU courts.

Easy Read: Registration of Businesses in Nigeria

This paper is centered on registration of Businesses in Nigeria. it will succinctly discuss the types and features of business organisations available in Nigeria. It will also give a detailed account of the procedure involved in the registration of businesses by both Citizens and Foreign Entities with the Corporate Affairs Commission and other sector regulators in Nigeria.

Leadership Roles and Management Practices of Educational Managers and Their Relationships to Teachers’ and Students’ Performance

A descriptive-correlational research was conducted to determine the extent educational managers in the four state universities in Panay Island portrayed their leadership roles and management practices and its relationship to teachers’ and students’ performance. Ninety three respondents were classified according to highest educational attainment, position occupied, and length of experience. Questionnaire was used to gather data and Performance Evaluation System (PES) of teachers and passing percentage in Board Examination for students’ performance. Results were interpreted at 5% level of significance using One-Way Analysis of Variance and Pearson Product-Moment Correlation Coefficient. Descriptive data were analyzed using frequency, percentage, weighted mean, and standard deviation. Results showed that majority were doctorate degree holders, first-line managers, and serve their positions for less than ten years. Leadership roles and management practices were rated “to a very large extent.” Only management practices in physical facilities development performed “to a large extent” were although when taken as a whole in the five years of concern were performed they “to a very large extent.” Teachers’ performance mostly rated Outstanding and a lesser number was rated Very Satisfactory. The passing percentage above the national passing set was by the Philippine Regulation Commission (PRC). Leadership roles significantly affect teachers’ performance and only leadership and human resource development were related to teachers’ performance. Leadership roles and management practices were not related to students’ performance except in physical facilities development. Only educational attainment was found significantly correlated to teachers’ performance but not to students’ performance.

Nuking Misconceptions: Hinkley Point, Chinese SOEs and EU Merger Law

As Chinese outbound investment and acquisitions of European and other western assets reach hitherto unseen dimensions, the European Commission and other antitrust regulators are being called upon to assess the competitive impact of acquisitions by Chinese SOEs. A critical threshold issue, with both jurisdictional and substantive implications, is whether Chinese SOEs have a power of decision independent of the Chinese state. The EU Merger Regulation provides a clear framework for examining the independence of SOEs, regardless of their nationality. But the Commission’s case law as it pertains to Chinese SOE acquirers, up until very recently, failed to come to terms with the extensive evidence of multifaceted state control exercised by Beijing over its SOEs. In its March 2016 decision in the Hinkley Point case, the Commission has begun to take the bull by the horns. It is submitted, however, that the European antitrust regulator still has some way to go: evidence of the deeply pervasive nature of Communist Party and Chinese state influence over SOEs in the Middle Kingdom is extensive and can no longer be ignored.

The impact of Customer Baseline Load (CBL) calculation methods on Peak Time Rebate program offered to residential customers

This paper investigates the impact of CBL's performance on PTR programs offered to the residential customers. For the purpose of analysis, HighXofY (NYISO), exponential moving average (ISONE), regression methods and their adjusted forms are first introduced and then employed to calculate the CBL. Irish Commission for Energy Regulation (CER) smart metering trial dataset is used for this analysis. Furthermore, the metrics of accuracy, bias and Overall Performance Index (OPI) are introduced and then applied to carry out error analysis. Residential customers as opposed to industrial customers show a high degree of unpredictability due to multitudes of non-correlated personal and household activities. Therefore, an approach is also proposed in this paper to harness the randomness of individual customers’ consumption. Also, it is necessary to examine how the metrics affect DR programs financially for the sake of reaching a valid conclusion about the overall performance of CBL methods. Consequently, a PTR program for a case of 260 customers is investigated as a case study. Results from this case study as well as their discussion are provided at the end.

The Filipino Customs Brokers' Perception on the Proposed Customs Modernization and Tariff Act (CMTA) of the Philippines

The study focused on the perception of the Filipino Customs Brokers on the proposed Customs Modernization and Tariff Act (CMTA) of the Philippines. Specifically, it established the profile of the customs brokers in terms of years in practice of the profession, number of clients, estimated annual net income and estimated revenue remitted to the Bureau of Customs (BOC). It then determined the level of knowledge of the customs brokers with regards to definition of declarant, responsibilities of declarant, role of third party and exclusion of 'customs broker' under CMTA. It also determined the perception of the customs brokers on the effects of the proposed CMTA to the customs broker profession. Further, it looked into the significant difference on the level of perception of customs brokers on the CMTA when grouped according to their profile variables. The descriptive research design was used in this study utilizing a self-constructed questionnaire as data gathering instrument. Using Slovin's formula, data were gathered from 153 accredited customs brokers transacting at major ports in the Philippines for at least five years. Respondents were selected through convenience sampling. Statistical tools used were percentage, weighted mean and analysis of variance (ANOVA). Most of the respondents were in practice of the customs broker profession for 5 to 10 years, serve 10 to 20 clients, have an estimated annual income of more than one million to five million pesos and have an estimated revenue remittance to the BOC of more than one million to one billion pesos. Findings showed that the customs brokers have high level of knowledge with regards to the definition of declarant, responsibilities of declarant and the role of 'third party' under the proposed CMTA. However, they have low level of knowledge on the exclusion of 'customs broker' on the proposed law. The respondents strongly perceive that the effects of the proposed law to the customs broker profession would be unemployment among employees of existing customs brokerage firms, anxiety among students currently enrolled in the BS Customs Administration (BSCA) program, anxiety among colleges/universities offering the BSCA program, inconsistency with present legislation on customs broker profession, irrelevance of the Professional Regulation Commission (PRC) license as customs broker, misunderstanding as to the customs brokers' roles and functions in trade facilitation with the role of third parties, irrelevance of the accredited professional organization of customs brokers and irrelevance of the Professional Regulatory Board for Customs Brokers (PRBCB). Findings revealed that there are no significant differences on the respondents' level of perception on the effects of the proposed CMTA to the customs broker profession when respondents are grouped into their years of practice in the profession, number of clients, estimated annual net income and estimated revenue remittance to the BOC.

Second Tier, Second Thoughts—Why it Turns out to be so Difficult for EIOPA to Create a Single Market for Private Pensions

In the context of the completion of the common financial market and historically low real interest rates, the recently founded European Insurance and Occupational Pensions Authority (EIOPA) has been assigned the task to develop a regulatory “2nd regime” for private pensions. Issuing a detailed discussion paper, EIOPA invited feedback from stakeholders and received more than 1,300 comments. Based on an analysis of these positions, our paper examines arguments justifying or criticizing the creation of such a single market and on the—sometimes surprising—emergent advocacy coalitions. Unlocking potential economies of scale is attractive to certain large providers; yet it is hindered by member states' widely differing tax rules and raises various distributional questions. Furthermore, we assess EIOPA's own emerging position vis‐à‐vis both the Commission and national regulators, especially its strategic shift toward consumer protection. 2nd regime regulation as one of EIOPA's first and foremost tasks proves formative regarding its institutional role perception and the legitimacy of its activities.

The Application of EU Competition Law in the Energy Sector

Another year has passed in which the European Commission announced that an integrated energy market for all European Union (EU) Member States is closer than ever before.1 And yet, in 2015, a functioning single European energy market has not been fully accomplished.2 Further regulatory measures have been considered necessary and have been promoted by the Commission and national regulators, now under the banner of the ‘Energy Union’ of the Juncker Commission. This ‘Energy Union’ marks another milestone in the development of the regulatory framework of energy markets in the EU. It has become one of the top three political priorities of the Commission and is prominently represented by the Commission's Vice-President Maroš Šefčovič and Commissioner for Climate Action and Energy, Miguel Arias Cañete. In 2015, a key focus of the Commission's activities was the enforcement of EU State aid rules, most importantly with regard to national subsidy measures for energy generated from renewable resources (renewable energies) and so-called capacity mechanisms, which several Member States implemented to close perceived gaps in their electricity supply. National regulators remained the main drivers of the enforcement of competition law in terms of prohibition of cartels and abusive behaviour.

STATE REGULATION OF PENSION ASSETS INTERNATIONAL INVESTING

The goal of this article is to clarify the role of government regulation in international investment asset of accumulating pension funds. The main purpose of state regulation of pension assets international investment is to protect the interests of accumulating pension funds to preserve the value of pension savings. The subject of state regulation of pension assets international investment is the National Commission for the State Regulation of Financial Services Markets. There are the legal, administrative and economic forms of state regulation of international investment of pension assets. Government regulation of pension assets international investment require the additional risks of investing pension assets in international financial markets, which can provide effective balance between benefits and costs for pension funds participants and for state.In the article it is studied the experience of state regulation of assets mandatory funded pension funds international investment in EU countries of Central andEastern Europe. Positive and negative effects of quantitative restrictions on pension assets international investment are shown. Practical recommendations for state regulation of Ukrainian accumulating of pension funds asset international investment are offered.

The Lehman Brothers Bankruptcy B: Risk Limits and Stress Tests

Investment banks are in the business of taking calculated risks. Risk management infrastructure facilitates the safe pursuit of profits and the balancing of associated risks. By 2006, Lehman Brothers was thought to have a very respectable risk management system, and even its regulator, the Securities and Exchange Commission, viewed its risk framework as being fully compliant with regulatory requirements. In its public disclosures, Lehman characterized its risk controls as “meaningful constraints on its risk taking” and evidence of its continued financial stability. Beginning in late 2006, however, Lehman began dismantling its carefully crafted risk management framework as it pursued a new high-leverage growth strategy. During the next two years, it exceeded many risk limits, aggressively increased a number of risk metrics, disregarded its risk procedures, and excluded risk management personnel from key decisions. In October 2007, it replaced its well-regarded chief risk officer with a seasoned deal maker who lacked professional risk management experience. This case considers the value of a risk management system and how it functioned (and then did not) to constrain risk taking at Lehman. It also considers the role of its regulator.

Theoretic and legal aspects of capital fund reproduction of district heating plants

Significant political and economic changes that have been taking place in Ukraine recently necessitate close tracing of legal alterations in order to adjust various managerial decisions accordingly. The article analyses a number of recent legal alterations regarding district heating plant (DHP) functioning. Author focuses on legal aspects that have to do with capital fund (CF) upgrading. The article examines power-efficient, quickly compensated procedures that the National Commission for State Energy and Public Utilities Regulation of Ukraine suggests DHPs should implement for the purpose of capital fund upgrading. These procedures are defined according to physical deterioration and obsolescence types of CF and types of CF reproduction. The study showes that most of them can be rated as intensive extended reproduction and are ranked from new technology re-equipment to various types of modernization. Review of the latest versions of the Internal revenue code of Ukraine and of The law of Ukraine about natural monopolies allows for the conclusion that a number of stimulating state initiatives in the DH area are suspended. Monitoring of legal alterations is important for understanding of new conditions of DHP functioning as it affects CF upgrading investment decisions.

The Quality of Engineering Programs of Cebu Technological University as determined by its Performance in the Mechanical and Electrical Engineering Licensure Examinations

Licensure examination performance provides an indication of the effectiveness of the curricular program to develop core competencies of students. The study aimed to evaluate the quality of Cebu Technological University’s engineering programs by determining the performance of its graduates in the licensure examinations from 2005 to 2012 and comparing it with the national standard. It also benchmarked its performance with that of the top four private engineering schools of Cebu. Source of data was the Professional Regulation Commission. The result of the study showed that there were no significant differences between the CTU College of Engineering’s performance in the licensure examinations of both Mechanical Engineering and Electrical Engineering as against the National passing performance. There were no significant differences between the performance of CTU and the performance of the top four engineering schools of Cebu in both Mechanical Engineering and Electrical Engineering. Based on those findings, it can be concluded that the performance of CTU College of Engineering in the licensure examinations is comparable with that of the national standard. It is also comparable with the performances of the top four private engineering schools of Cebu. It is effective in its curricular programs in engineering, competent to provide quality engineering education at par with the top engineering schools of Cebu and the rest of the nation, and capable of producing globally competent engineers. Keywords - Engineering Education, licensure exam performance, quantitative, t-test, one-way analysis of variance, Philippines, Asia

Academic Performance, Aspirations, Attitudes And Study Habits As Determinants Of The Performance In Licensure Examination Of Accountancy Graduates

The graduates it produces often determine the quality of education offered by an institution. In like manner, the quality of graduates produced by an institution is measured by their performance in licensure examinations. The study determined the level of student’s academic performance, aspirations, attitudes towards accounting and study habits. It also determined the performance of the graduates in the Certified Public Accountant (CPA) licensure examination, as well as the relationship of the academic performance, aspirations, attitudes towards accounting and study habits and the performance in the licensure examination. One hundred twenty-four (124) respondents were considered in the study which utilized the descriptive-correlational method. A survey questionnaire determined the level of academic performance, aspirations, attitudes and study habits. Official results of the CPA Licensure Examination were retrieved from the Professional Regulation Commission. The study employed frequency counts, weighted means, ranking and regression analysis as statistical tools. The respondents had good academic performance, a high level of aspiration, a favorable attitude towards Accounting and good study habits. Performance of graduates is above the national passing percentage, though, graduates do not make it in the first attempt. Graduates performed best in the Theory of Accounts while the weakest performance is in Practical Accounting I. Academic performance, attitudes towards accounting and study habits are significantly related to the performance in the examination while the level of aspirations was not related. The study recommended the emphasis of students’ persistence to work toward their goals, study habits and passion in accounting in admitting prospective students. Regular assessment through a qualifying examination is also recommended to improve performance.