电力现货市场环境下政府授权差价合同结算机制研究  

Settlement Mechanism of CFDs Authorized by Government Under Environment of Electricity Spot Market

作　　者：张粒子[1] 王进 陈传彬 杨首晖 王昀昀[1] ZHANG Lizi;WANG Jin;CHEN Chuanbin;YANG Shouhui;WANG Yunyun(School of Electrical&Electronic Engineering,North China Electric Power University,Changping District,Beijing 102206,China;Marketing Department,Fujian Power Exchange Center,Fuzhou 350003,Fujian Province,China)

机构地区：[1]华北电力大学电气与电子工程学院,北京市昌平区102206 [2]福建电力交易中心有限公司市场部,福建省福州市350003

出　　处：《电网技术》2021年第4期1337-1346,共10页Power System Technology

基　　金：国网福建省电力有限公司科技项目(5213001800A0)。

摘　　要：电力现货市场(试)运行后,政府授权差价合同(contracts for differences,CFDs)的结算机制对市场主体的经济利益和市场行为影响很大。分析了电力现货市场环境下,政府授权差价合同电量和电价的内涵、对冲现货市场价格风险的机理以及结算面临的问题,论述了差价合同实现对冲现货市场价格风险功能的前提,并基于保证公平和实现差价合同避险功能的两大原则,研究提出了"区别化(10)事前确定"的结算机制。最后,重点梳理了目前广东省、福建省和浙江省政府授权差价合同的结算机制,对所提出的结算机制和各现货试点省份现行采用的结算机制进行了比较分析,并通过案例分析论证了所提结算机制的公平性和实用性。Since the pilot run of the power spot market, the settlement mechanism of government-authorized contracts for differences(CFDs) has a great impact on the economic interests and market behavior of the market entities. This paper analyzes the connotation of electricity quantity and prices in the power spot market, the mechanism of hedging spot market price risks, and the problems faced by the settlement process. Then we discuss the premise of hedging spot market price risks with CFDs. Based on two principles, i.e., "ensuring fairness" and "hedging risks", this paper puts forward a settlement mechanism of "differentiation(10) prior determination". Finally, this paper sorts out the current settlement mechanisms for CFDs authorized by the governments in the provinces of Guangdong, Fujian, and Zhejiang. Comparing and analyzing the settlement mechanism proposed in this paper with the current settlement mechanisms being used in the above provinces, the fairness and practicality of the proposed settlement mechanism is evaluated.

关 键 词：电力现货市场 差价合同 结算机制 公平 避险功能 

分 类 号：TM73[电气工程—电力系统及自动化]