电力工业正在进行打破垄断、鼓励竞争的市场化改革,在这个过程中,市场参与者将获得不少的机会,同时他们也将面临大量的风险,一个关键的问题是在电力市场中应有能力来管理这些新的风险.市场环境下,电力价格呈现出比传统条件下更为复杂的变化形式,发电商要同时面对燃料市场和电力市场中的市场风险,在燃料市场和电量市场之间构造出交叉商品组合,并在此基础上引入摆动期权合约,设计了发电商的风险回避模型.通过该模型发电商能够比较有效地回避市场风险. The power industry is undergoing marketization reforms that break the monopoly and encourage competition. In the process, market participants will have many opportunities and they will also face a lot of risks. A key issue is that they should have the power in the electricity market To manage these new risks.Under the market environment, the price of electricity presents a more complicated change than the traditional conditions. The power producers should also face the market risks in the fuel market and the electricity market. Between the fuel market and the electricity market By constructing the cross product portfolio and introducing a swing option contract, a risk avoidance model for the generator is designed, and the generator can avoid the market risk more effectively.