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电力期货是规避现货市场风险的有效管理工具,目前国外主要的电力市场均以合约交易为主、现货交易为辅,实现了现货的价格调节功能与期货的价格风险规避功能的结合,在成熟的合约市场交易基础上出现了电力期货交易所。在电力期货交易背景下,结合流域水电公司的特点,分析价格风险,结合其收益模型探讨了流域水电公司在电力期货交易下的竞争策略。
Electricity futures is an effective management tool to avoid the spot market risk. At present, the major foreign electricity markets are dominated by contractual transactions, supplemented by spot transactions, which realizes the combination of spot price adjustment function and futures price risk aversion function. In the mature Power futures exchanges have emerged on the basis of contract market transactions. In the background of electricity futures trading, combined with the characteristics of river basin hydropower companies, the paper analyzed the price risk and discussed the competitive strategy of river basin hydropower companies under the electricity futures trading.