Econometric Modeling of the Efficiency in the Generation of Electric Power in Chile.

This research proposes the estimation of stochastic frontiers model using panel data, to measure the technical efficiencies in 4 perspectives for the electricity generation sector in Chile for the period 2010–2015. The first perspective is to analyze the main companies in the sector; the second is about generation plants based on their contribution only as energy generates; the third is also power plants, but this time considering its contribution as generation and security to the system; and a fourth analysis is following the third model, but this time only considering the year 2015 in order to get a greater sampling of power plants and generation sources. The estimation also used 2 functional forms of production for each analysis: Cobb-Douglas and Translogarithmic that are compared to obtain the best representation of the data. The results show to which companies, plants and generation sources are the most and least efficient.