国外电力期货产品设计逻辑及其对我国启示  

Logic analysis of foreign power futures product design and its enlightenment to my country

作　　者：陈传彬 杨首晖 王良缘 林凯 张粒子[2] 贾兴 

机构地区：[1]福建电力交易中心有限公司 [2]华北电力大学电气与电子工程学院

出　　处：《价格理论与实践》2020年第2期51-54,174,共5页Price:Theory & Practice

基　　金：国网福建省电力有限公司科技项目:福建省与电力现货交易协同的中长期电力交易机制研究(项目编号:5213001800A0)。

摘　　要：国外电力期货对我国标准化电力中长期交易品种的设计具有重要的借鉴意义。随着我国电力市场化改革的不断推进,电力中长期市场与电力现货市场的衔接问题日益凸显,电力交易机构需要设计一套标准化中长期交易品种体系,以实现中长期场内集中交易的“带电力曲线交易”,满足市场主体通过中长期交易管控现货市场价格风险的需求。本文基于欧洲、美国、澳大利亚的电力市场模式,对电力期货设计要素和交易组织进行了系统地梳理,分析了电力期货的产品设计逻辑,得出对我国标准化中长期交易品种设计的启示,以期为我国电力中长期市场的建设提供有益参考。It is very important for the design of standardized medium and long-term electricity trading products in China to learn from foreign power futures.With the continuous promotion of power market reform,the problem of coordination between the medium and long-term market and the spot market is becoming increasingly prominent.Power exchange need to design a set of standardized medium and long-term trading product system to realize the"power trading with curve"of medium and long-term on exchange trading,and meet the needs of market entities to control the price risk of spot market through medium and long-term trading.In this paper,based on the electricity market model of Europe,the United States and Australia,the product design elements and trading organization of power futures are systematically reviewed,the design logic of power futures is analyzed,and the enlightenment to the design of standardized medium and long-term trading products in China is summarized,so as to provide useful reference for the construction of China's medium and long-term power market.

关 键 词：电力期货 电力中长期市场 电力现货市场 标准化电力中长期交易品种 

分 类 号：F426.61[经济管理—产业经济] F713.35F764.5