 run C:\Work\oebgas\Specification\DR_TC;
  
********************************************************************************
  
 Date:  8/31/07 ****    STANDARD SUR ESTIMATION RESULTS   ****   Time: 16:10:07
  
         		OUTPUT FILE:C:\work\Oebgas\results\out
  
         		    DATA FILE:C:\work\Oebgas\oebgasCS.xls
 
********************************************************************************
  
  
        			DEFINITIONS OF OUTPUT VARIABLES:
   
				Y1 is number of customers.
 
				Y2 is weather adjusted residential & commerical deliveries
 
  				Y3 is other delivieries
  
  
        			DEFINITIONS OF BUSINESS CONDITION VARIABLES:
   
				Z1 is % of non-iron miles in Dx miles
    
				Z2 is Number of Electric Customers
    
				Z3 is Urban Core Dummy
 
  				Model includes time trend.
 
 
                    Time period used: 1994 through 2004
  
  

***************************************************************************
                          GAUSS Data Import Facility
***************************************************************************

Begin import... 
Import completed 
Number of rows in input file:                 413 
Number of cases written to GAUSS data set:     412 
Number of missing elements:                    63 
Number of variables written to GAUSS data set:  21 
  1 
409 
===============================================================================
 LINEAR SEEMINGLY UNRELATED REGRESSION                     8/31/2007   4:10 pm
===============================================================================
                     Data Set:  C:\work\Oebgas\Temp_3.dat                      
-------------------------------------------------------------------------------


DIVISOR USING N IN EFFECT
RESTRICTIONS IN EFFECT 

        ITER. # =    0    LOG OF DETERMINANT OF SIGMA =   -14.83848859
        ITER. # =    1    LOG OF DETERMINANT OF SIGMA =   -14.87836321
        ITER. # =    2    LOG OF DETERMINANT OF SIGMA =   -14.87866155
        ITER. # =    3    LOG OF DETERMINANT OF SIGMA =   -14.87866942
        ITER. # =    4    LOG OF DETERMINANT OF SIGMA =   -14.87866970
        ITER. # =    5    LOG OF DETERMINANT OF SIGMA =   -14.87866971
        ITER. # =    6    LOG OF DETERMINANT OF SIGMA =   -14.87866971

                   -----------------------------------
                              Equation:   1 
                      Dependent variable:         C
                   -----------------------------------

     Total cases:              396    Valid cases:                    396
     Total SS:             316.532    Degrees of freedom:            ----
     R-squared:              0.969    Rbar-squared:                 0.969
     Residual SS:            9.656    Std error of est:             0.156
     Durbin-Watson:          0.305

                    Estimated         Standard                      Prob 
     Variable      Coefficient          Error         t-ratio       >|t| 
     --------------------------------------------------------------------
     CONST          8.09998430       0.02740998      295.512       0.0000 
     WL             0.27399062       0.02125697       12.889       0.0000 
     WK             0.53854328       0.00719297       74.871       0.0000 
     Y1             0.69705852       0.04401660       15.836       0.0000 
     Y2             0.10424514       0.03408825        3.058       0.0024 
     Y3             0.06238929       0.02221964        2.808       0.0052 
     WLWL           0.06762728       0.19295385        0.350       0.7262 
     WLWK          -0.08265039       0.01659182       -4.981       0.0000 
     WKWK           0.16184785       0.01686196        9.598       0.0000 
     Y1Y1           0.17087483       0.03738302        4.571       0.0000 
     Y2Y2          -0.29552516       0.04118393       -7.176       0.0000 
     Y3Y3           0.01357016       0.01401523        0.968       0.3335 
     WLY1          -0.02035733       0.01546179       -1.317       0.1887 
     WLY2           0.00079847       0.01419459        0.056       0.9552 
     WLY3           0.00842856       0.00511423        1.648       0.1002 
     WKY1          -0.04255115       0.01588139       -2.679       0.0077 
     WKY2           0.03406274       0.01459514        2.334       0.0201 
     WKY3           0.01173716       0.00528727        2.220       0.0270 
     Z1            -0.60908554       0.05436684      -11.203       0.0000 
     Z2            -0.00833280       0.00111359       -7.483       0.0000 
     Z3             0.04242301       0.01693988        2.504       0.0127 
     TREND         -0.01119824       0.00262349       -4.268       0.0000 
     WLTREND       -0.00818099       0.00413322       -1.979       0.0485 
     WKTREND        0.00564213       0.00121339        4.650       0.0000 


                   -----------------------------------
                              Equation:   2 
                      Dependent variable:        SL
                   -----------------------------------

     Total cases:              396    Valid cases:                    396
     Total SS:               2.247    Degrees of freedom:            ----
     R-squared:              0.190    Rbar-squared:                 0.206
     Residual SS:            1.821    Std error of est:             0.068
     Durbin-Watson:          0.407

                    Estimated         Standard                      Prob 
     Variable      Coefficient          Error         t-ratio       >|t| 
     --------------------------------------------------------------------
     CONST          0.27399062       0.02125697       12.889       0.0000 
     WL             0.06762728       0.19295385        0.350       0.7262 
     WK            -0.08265039       0.01659182       -4.981       0.0000 
     Y1            -0.02035733       0.01546179       -1.317       0.1887 
     Y2             0.00079847       0.01419459        0.056       0.9552 
     Y3             0.00842856       0.00511423        1.648       0.1001 
     TREND         -0.00818099       0.00413322       -1.979       0.0485 


                   -----------------------------------
                              Equation:   3 
                      Dependent variable:        SK
                   -----------------------------------

     Total cases:              396    Valid cases:                    396
     Total SS:               2.617    Degrees of freedom:            ----
     R-squared:              0.243    Rbar-squared:                 0.258
     Residual SS:            1.983    Std error of est:             0.071
     Durbin-Watson:          0.323

                    Estimated         Standard                      Prob 
     Variable      Coefficient          Error         t-ratio       >|t| 
     --------------------------------------------------------------------
     CONST          0.53854328       0.00719297       74.871       0.0000 
     WL            -0.08265039       0.01659182       -4.981       0.0000 
     WK             0.16184785       0.01686196        9.598       0.0000 
     Y1            -0.04255115       0.01588139       -2.679       0.0077 
     Y2             0.03406274       0.01459514        2.334       0.0201 
     Y3             0.01173716       0.00528727        2.220       0.0270 
     TREND          0.00564213       0.00121339        4.650       0.0000 

  
                   -----------------------------------  
                              Equation:   4 			   
                      Dependent variable:        SM	   
                   -----------------------------------  
  
									  Valid cases:                   396 
                                      Degrees of freedom:           ----
   
                    Estimated         Standard                      Prob   
     Variable      Coefficient          Error         t-ratio       >|t|   
     --------------------------------------------------------------------  
     CONST         0.18746611        0.02110322        8.883       0.0000 
     WL            0.01502311        0.19167870        0.078       0.9376 
     WK           -0.07919745        0.01524060       -5.196       0.0000 
     Y1            0.06290847        0.01478495        4.255       0.0000 
     Y2           -0.03486121        0.01356161       -2.571       0.0109 
     Y3           -0.02016572        0.00488722       -4.126       0.0001 
   
  
  
     -------------------------------------------------------------------- 
                       MEASURES OF GOODNESS-OF-FIT
     -------------------------------------------------------------------- 
  
     			AN UNCENTERED SYSTEM R-SQUARE          0.982 
   
     			A CENTERED SYSTEM R-SQUARE             0.982 
   
    
		The results from the test of the null hypothesis that all slope
     coefficients in all equations are simultaneously equal to zero.
    
        		Test statistic                 Prob > t 
				----------------------------------------
  		          1588.097                     +DEN 
  


     -------------------------------------------------------------------- 
                    VALIDATION OF REGULARITY CONDITIONS
     -------------------------------------------------------------------- 
  
				Monotonicity of the Estimated Cost Function
 
		The number of observations for which each of the following
	 predicted cost share is nonpositive is listed below
  
            Labor          Capital         Materials
              0               0               0 
		   (0.00 %)        (0.00 %)        (0.00 %)
  
  
				Concavity of the Estimated Cost Function
  
The number of the observations for which the condition that the matrix of
second order partial derivatives of the cost function with respect to input
wages is negative semi-definite holds:  
                                              396   (100.00 %)
  
  
				Quasi-Concavity of the Estimated Cost Function
  
The number of observations for which the condition that the cost function is
strictly quasi-concave in input prices holds:
                                              396   (100.00 %)
  
  
				Second Order Condition for Cost Minimization
  
The number of the observations for which the condition that the bordered
Hessian is negative definite holds:
                                              396   (100.00 %)
   
   
      OUT-OF-SAMPLE PREDICTION OF TOTAL COST LEVEL PERFORMANCE LAST 3 YEARS 
   
    Actual     Predicted Difference  t_ratio	 p_value    Utility    	 
  
   
     8.245      8.636     -0.392     -4.291      0.000      East Ohio Gas
     6.618      6.928     -0.310     -3.339      0.000      North Shore Gas
     9.646      9.953     -0.307     -2.866      0.002      SOUTHERN CALIFORNIA GAS
     6.189      6.430     -0.241     -2.508      0.006      Madison Gas & Electric
     8.719      8.935     -0.216     -2.191      0.014      NICOR
     7.669      7.877     -0.208     -2.248      0.012      SAN DIEGO GAS & ELECTRIC
     6.803      6.989     -0.186     -2.126      0.017      Louisville Gas and Electric
     7.503      7.635     -0.132     -1.428      0.077      Wisconsin Gas
     8.576      8.707     -0.131     -1.378      0.084      Consolidated Edison
     7.213      7.339     -0.125     -1.348      0.089      Illinois Power
     6.468      6.556     -0.089     -0.923      0.178      Pg Energy (Penn Gas & Water)
     7.752      7.833     -0.081     -0.870      0.192      Questar (Mountain Fuel Supply)
     7.770      7.839     -0.069     -0.737      0.231      BALTIMORE GAS & ELECTRIC CO							
     8.424      8.474     -0.050     -0.525      0.300      Atlanta Gas Light							
     8.597      8.639     -0.042     -0.423      0.336      Peoples Gas Light
     7.086      7.127     -0.040     -0.431      0.333      Rochester Gas and Electric
     7.258      7.284     -0.026     -0.281      0.389      People's Natural Gas
     7.163      7.164     -0.001     -0.015      0.494      COMMONWEALTH GAS							
     6.563      6.523      0.040      0.420      0.337      Wisconsin Power & Light
     7.042      6.999      0.043      0.445      0.328      Connecticut Energy							
     7.834      7.791      0.044      0.467      0.320      Northwest Natural Gas
     6.468      6.424      0.044      0.457      0.324      Orange & Rockland Utilities
     7.673      7.619      0.054      0.560      0.288      new Jersey Natural Gas
     8.510      8.438      0.072      0.769      0.221      Southwest Gas
     7.010      6.914      0.096      0.944      0.173      Connecticut Natural Gas
     8.844      8.747      0.097      1.023      0.153      Public Service Electric & Gas
     7.716      7.615      0.102      1.087      0.139      Alabama Gas							
     8.556      8.438      0.118      1.240      0.108      Consumers Power
     6.976      6.857      0.119      1.173      0.120      Cascade Natural Gas							
     7.955      7.782      0.172      1.854      0.032      Washington Natural Gas
     6.039      5.789      0.250      2.468      0.007      Central Hudson Gas							
     7.373      7.091      0.283      3.128      0.001      Public Service of North Carolina
     8.057      7.710      0.347      3.802      0.000      Niagra Mohawk
     9.478      9.129      0.349      3.751      0.000      Pacific Gas & Electric
     7.714      7.322      0.391      4.254      0.000      Peco (Philadelphia Electric)
     8.465      7.959      0.506      5.766      0.000      Washington Gas Light
 
 
 RTS (sum of output elasticities) calculated at all data points
 
     sum         yn        yvrc        yvoth       utility
     0.641      0.801     -0.230      0.070      ENBRIDGE							
     0.668      0.845     -0.251      0.074      NICOR
     0.683      0.693     -0.064      0.054      Peoples Gas Light
     0.714      0.819     -0.173      0.068      Consumers Power
     0.717      0.809     -0.162      0.070      Public Service Electric & Gas
     0.735      0.753     -0.085      0.067      East Ohio Gas
     0.743      0.709      0.000      0.034      Washington Gas Light
     0.758      0.722     -0.027      0.063      Consolidated Edison
     0.782      0.749     -0.068      0.101      UNION GAS
     0.791      0.626      0.101      0.064      Niagra Mohawk
     0.795      0.965     -0.258      0.087      Pacific Gas & Electric
     0.819      1.006     -0.278      0.091      SOUTHERN CALIFORNIA GAS
     0.857      0.811     -0.016      0.063      Atlanta Gas Light							
     0.858      0.684      0.123      0.050      Questar (Mountain Fuel Supply)
     0.867      0.630      0.190      0.047      Washington Natural Gas
     0.867      0.398      0.441      0.027      Connecticut Natural Gas
     0.884      0.559      0.287      0.038      People's Natural Gas
     0.892      0.591      0.254      0.047      Peco (Philadelphia Electric)
     0.896      0.394      0.472      0.031      North Shore Gas
     0.897      0.631      0.209      0.056      Wisconsin Gas
     0.904      0.491      0.377      0.036      COMMONWEALTH GAS							
     0.906      0.567      0.303      0.037      new Jersey Natural Gas
     0.908      0.648      0.210      0.050      BALTIMORE GAS & ELECTRIC CO							
     0.912      0.517      0.360      0.035      Rochester Gas and Electric
     0.940      0.422      0.477      0.041      Pg Energy (Penn Gas & Water)
     0.941      0.581      0.311      0.049      Illinois Power
     0.944      0.359      0.546      0.038      Orange & Rockland Utilities
     0.947      0.784      0.100      0.063      Southwest Gas
     0.956      0.611      0.286      0.059      Northwest Natural Gas
     0.965      0.536      0.391      0.038      Louisville Gas and Electric
     0.971      0.371      0.582      0.018      Madison Gas & Electric
     0.985      0.421      0.530      0.035      Connecticut Energy							
     1.002      0.600      0.344      0.058      Alabama Gas							
     1.016      0.558      0.412      0.046      Public Service of North Carolina
     1.029      0.420      0.569      0.039      Wisconsin Power & Light
     1.061      0.434      0.561      0.066      Cascade Natural Gas							
     1.064      0.253      0.779      0.032      Central Hudson Gas							
     1.065      0.684      0.320      0.061      SAN DIEGO GAS & ELECTRIC
 