A New Mode for Medium and Long-Term Electricity Trade Based on Standardized Futures

doi:10.11930/j.issn.1004-9649.202010051

Abstract

Abstract: The electricity futures are a kind of electricity financial contract that can effectively lower the trading risk in the electricity spot market. With the advance of China's electricity market reform, the marketization degree of electricity trade is gradually improved, which calls for studies on the potential electricity futures market. Based on the current practice of electricity markets in China, three kinds of standardized electricity futures contracts, including peak load, waist load and base load, are applied to design the medium and long-term futures trading model of the power selling side. Furthermore, the time value of capital is introduced to promote the fairness of the electricity futures market. The case study illustrates the basic strategy of futures trading, and verifies the effectiveness of the proposed model in lowering the risk of electricity cost.

Key words: power system reform, electricity market, medium and long-term electricity market, electricity futures contract, time value of capital

SHI Junqiang, LIU Zeyu, FENG Donghan. A New Mode for Medium and Long-Term Electricity Trade Based on Standardized Futures[J]. Electric Power, 2021, 54(6): 29-35,70.

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URL: https://www.electricpower.com.cn/EN/10.11930/j.issn.1004-9649.202010051

https://www.electricpower.com.cn/EN/Y2021/V54/I6/29

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