电力差价合约机制设计与应用  

Design and Application of Contract for Difference in Electricity Market

作　　者：骆子雅 季天瑶 荆朝霞[1] 何爱民 LUO Ziya;JI Tianyao;JING Zhaoxia;HE Aimin(School of Electric Power, South China University of Technology, Guangzhou 510640, Guangdong Province, China;Independent Electricity System Operator, Toronto M5H 1T1, Ontario, Canada)

机构地区：[1]华南理工大学电力学院,广东省广州市510640 [2]加拿大安大略省独立电力系统运营公司,加拿大安大略省多伦多市M5H1T1

出　　处：《电网技术》2019年第8期2743-2751,共9页Power System Technology

摘　　要：电力现货市场的建设下,分时、分位置的现货价格容易产生价格波动风险,因此有必要设计有效的规避风险工具。差价合约作为中长期市场中最为常见的金融工具,既可以给市场主体提供一种价格波动的避险工具,又可以被政府用于实现搁浅成本回收、市场力控制、可再生能源消纳等目的。首先提出了差价合约设计相关的基本概念,包括合约主体、合约时段和合约设计参数等。接着根据国内外相关经验总结出差价合约的设计要素及方法,着重讨论了合约数量、合约价格及基准价格等设计参数的选取方法。然后具体介绍英国、加拿大、新加坡、澳大利亚等国家典型差价合约的设计,并对其应用进行讨论分析。最后结合了当前国内电力市场现状,提出对我国电力市场建设中有关差价合约机制设计的启示和建议。In the environment of electricity spot market, the spot price based on time and location will bring the risk of price fluctuation, so it is necessary to design effective tools to avoid the risks. As the most common financial instrument in medium- and long-term market, contract-for-difference (CfD) can provide market participants with an instrument to hedge against price fluctuations, and be used by government to achieve stranded cost recovery, market power control, and renewable energy accommodation. This paper firstly presents basic concepts related to CfD design, including contract body, contract period and contract design parameters. Then, based on relevant experience in China and abroad, the design elements and methods of CfDs are summarized, and the selection methods of design parameters such as contract quantity, contract price and benchmark price are discussed. Then, this paper presents design of typical CfDs in the United Kingdom, Canada, Singapore, Australia and other countries, and discusses and analyzes their application. Finally, taking the current status of electricity market in China into consideration, this paper proposes implications and suggestions for design of CfD mechanism in construction of electricity market in China.

关 键 词：差价合约 现货市场 规避风险 市场力 机制设计 

分 类 号：TM73[电气工程—电力系统及自动化]