國營事業之營運效率及成本控管常為大眾所詬病，而獨佔事業則常發生不公平交易之現象。台灣省自來水公司為一獨佔之國營事業，在水價調整議題甚囂塵上之此時，如何在符合公平交易之情況下訂立合理的水價，乃成為一重要之課題。本研究以民國82 年至91 年之台灣省自來水公司為研究對象，探討影響該公司營運成本及營運效率之因素，作為該公司管理決策單位控制成本與制定營運策略，以及主管機關決定是否調整水價之公平性的參考依據。實證結果發現致力於品質管理及設法增加產能利用率可有效降低單位營運成本，但設立較久之管理處其單位營運成本反而較高，顯示在其營運管理上應善加檢討。營運效率分析結果顯示，自來水公司整體營運效率並不佳，效率不佳之主要原因為投入產出之配置不當，自來水公司應該在投入資源之配置上徹底檢討改善。而差額變數分析結果則顯示自來水費之調漲必須在解決該公司投入資源不當運用後，再行審慎評估，以符合公平交易原則，並保護弱勢的消費大眾。另外，營運效率影響因素分析結果顯示在固定規模報酬下經營與降低單位營運成本，皆可有效提升自來水公司之營運效率。

The topic of how to set a fair water price has become a major concern of the general public. This study investigates the determinants of the operating costs and operating efficiency of the Taiwan Water Corporation (TWC) for the years from 1993 to 2002. The results provide some suggestions for management in the TWC in regard to controlling costs and making operating strategies, and in assisting the related authorities in formulating policies in relation to the water price. The empirical results show that the improvement in quality management and the increases in capacity utilization rates are the main reasons for the decrease in operating costs per unit of water in the TWC. In addition, the ages of the District Administration Offices (DAOs) are positively correlated with the operating costs per unit, which indicates that the old DAOs must improve their operating management. We also find that the main reason for the inefficient operation is the inefficiency of allocation. The input-output slack analysis shows that the TWC must improve the uses of its resources before raising prices in accordance with the principle of fair trade. Finally, the DAOs with constant returns to scale and decreasing operating costs per unit will significantly improve the overall efficiency of the TWC.