澳大利亚电力金融市场运营机制及对中国电力市场建设的启示

doi:10.11930/j.issn.1004-9649.202007146

中国电力 ›› 2021, Vol. 54 ›› Issue (6): 36-43,61.DOI: 10.11930/j.issn.1004-9649.202007146

• 电力现货市场运行分析与机制设计专栏 • 上一篇下一篇

澳大利亚电力金融市场运营机制及对中国电力市场建设的启示

冷媛, 辜炜德

南方电网能源发展研究院有限责任公司，广东广州 510080

收稿日期:2020-07-28 修回日期:2021-02-07 出版日期:2021-06-05 发布日期:2021-06-05
作者简介:冷媛(1986-),女,通信作者,硕士,高级经济师,从事能源经济、能源政策研究、电力市场研究,E-mail:lengyuan@csg.cn;辜炜德(1992-),男,硕士,工程师,从事能源战略、电力市场研究,E-mail:guwd@csg.cn
基金资助:
南方电网公司科技项目(ZBKJXM20180377)

Operating Mechanism of Australian Electric Financial Derivatives Market and Its Implications for Electricity Market Construction in China

LENG Yuan, GU Weide

Energy Development Research Institute, CSG, Guangzhou 510080, China

Received:2020-07-28 Revised:2021-02-07 Online:2021-06-05 Published:2021-06-05
Supported by:
This work is supported by Science and Technology Project of China Southern Power Grid (No.ZBKJXM20180377)

摘要/Abstract

摘要： 典型电力市场化国家在市场建设过程中都先后引入了电力金融衍生品交易，电力金融衍生品作为市场风险管理的重要工具受到越来越多的关注。以澳大利亚电力金融市场为例，介绍了其发展历程、市场组织和典型产品，重点分析了差价合约、电力期货、电力期权3种产品的设计及运营机制，并总结了市场运营的经验。结合中国电力市场当前建设情况，提出市场体系、市场准入、产品设计、交易组织、结算机制、风险防控等6个方面的启示。

关键词: 电力金融衍生品市场, 现货市场, 澳大利亚, 经验启示

Abstract: For the countries with electricity market-orientation, electric financial derivatives transactions have been introduced into the market construction, and the electric financial derivatives have been attracted more and more attentions as an important market risk management tool. By taking the Australian electric financial market as an example, this research introduces its market development process, market organization and typical products with special stress on analyzing the electricity swap, futures and options, and summarizes the experiences of the country’s market operation. Based on the current situation of electricity market in China, we propose the implications of Australia’s experiences for improving China’s electricity market construction in six aspects, including market system, market access, product design, transaction organization, settlement mechanism and risk prevention.

Key words: electric financial derivatives market, spot market, Australia, implication

冷媛, 辜炜德. 澳大利亚电力金融市场运营机制及对中国电力市场建设的启示[J]. 中国电力, 2021, 54(6): 36-43,61.

LENG Yuan, GU Weide. Operating Mechanism of Australian Electric Financial Derivatives Market and Its Implications for Electricity Market Construction in China[J]. Electric Power, 2021, 54(6): 36-43,61.

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澳大利亚电力金融市场运营机制及对中国电力市场建设的启示

Operating Mechanism of Australian Electric Financial Derivatives Market and Its Implications for Electricity Market Construction in China

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澳大利亚电力金融市场运营机制及对中国电力市场建设的启示

Operating Mechanism of Australian Electric Financial Derivatives Market and Its Implications for Electricity Market Construction in China

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