气候变化领域集成服务门户(CCPortal): A transaction case analysis of the development of generation rights trading and existing shortages in China

CCPortal

DOI	10.1016/j.enpol.2020.112045
	A transaction case analysis of the development of generation rights trading and existing shortages in China
	Zhao W.; Zhang J.; Li R.; Zha R.
发表日期	2021
ISSN	03014215
卷号	149
英文摘要	In the transition from a planned economy to a market economy of power sector reform in China, generation rights trading (GRT) as a mainly method to solve the problem of renewable energy curtailment. GRT presents significant differences from other countries' electricity derivatives such as electricity swap in subject matter, pricing mechanisms, etc. Electricity swap has been analyzed in many research work but few studies have been published on China's GRT policy system, our work can offer a new perspective to show traits and policy characteristics of GRT to fill this gap for other researchers. As a primary innovation point, this paper introduces the basic concept, development history, transaction mode, the policy system of GRT and the main differences between GRT and electricity swap in US electricity financial derivatives market are compared. Case analysis as research method is widely used in this paper, origin and components of transaction prices of GRT in Shanghai is investigated. This research shows that GRT is concentrated in regions which have rich natural resources or high demand of electricity and other energy of China and mainly dominated by the government, while GRT can improve the operating profits for renewable energy power plants and reduce renewable energy curtailment, many problems still exist such as unreasonable benefits distribution, lacking market adjustment mechanisms compare with electricity swap, and exorbitant price of coal compared with electricity price. © 2020 Elsevier Ltd
关键词	China's renewable energy consumption Generation rights trading Policy system of electricity market reform Shanghai energy trading
英文关键词	Coal deposits; Commerce; Costs; Financial markets; Adjustment mechanisms; Benefits distribution; Development history; Electricity derivatives; Electricity prices; Financial derivatives; Power sector reform; Renewable energy power; Coal industry; alternative energy; consumption behavior; electricity supply; energy market; energy policy; policy reform; power generation; power plant; China; Shanghai
语种	英语
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/205442
作者单位	School of Economics and Management, Shanghai University of Electric Power, Shanghai, China; China Construction First Group Corporation Limited, Beijing, China; The Third Power Plant of Waigaoqiao, Shanghai, China
推荐引用方式 GB/T 7714	Zhao W.,Zhang J.,Li R.,et al. A transaction case analysis of the development of generation rights trading and existing shortages in China[J],2021,149.
APA	Zhao W.,Zhang J.,Li R.,&Zha R..(2021).A transaction case analysis of the development of generation rights trading and existing shortages in China.Energy Policy,149.
MLA	Zhao W.,et al."A transaction case analysis of the development of generation rights trading and existing shortages in China".Energy Policy 149(2021).