Investment expenditures in natural gas distribution pipelines account for 70% of the rate base of Société en Commandite Gaz Métropolitain (SCGM), the natural gas utility which serves most customers in the province of Québec. In allocating these costs to rate payers, the regulatory process...

A wide range of tests for heteroskedasticity have been proposed in the econometric and statistics literatures. Although a few exact homoskedasticity tests are available, the commonly employed procedures are quite generally based on asymptotic approximations which may not provide good size...

We consider a firm that must undergo a costly and time-consuming regulatory process before making an irreversible, lagged investment whose value varies randomly. We analyze two cases: regulatory approval is valid forever or it expires after some time. We apply our model to Hydro Québec's...

Economic research on transfer-pricing behavior by multinational corporadons has emphasized theoretical modeling and institutional description. This paper presents the fiit systematic empirical analysis of transfer prices, using data from the petroleum industry. On the basis of oil imported into...

While the price of elasticity is higher in the North-Eastern United States than in the Quebec industrial market, the Quebec government is maintaining its traditional policy of promoting the establishment of electricity-intensive industries by providing them with electricity at a price below the...

Although the increase in future demand for electricity is expected to be smaller than that in recent years, Hydro-Quebec has undertaken to develop certain projects in anticipation of the expected future demand. Among these projects is the Great Whale project. Environmental concerns, the presence...