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华东电力市场设立平衡帐户规避市场风险,指出各方对平衡帐户的资金来源存在分歧。通过分析国内电力行业的现状,揭示了电源电网建设投资失衡的深层次原因,理论研究和实证分析都表明:电网企业既不应该承担、也无力承担平衡帐户的波动风险。辅以2001年美国加州电力市场危机中电网公司亏损130亿美元濒临破产为例证,在此基础上,结合华东电力市场差价合约结算模式,同时给出平衡帐户设计思路和平衡帐户结算公式,并采用华东电力市场2004年竞价数据进行了实例分析。
East China Power Market set up a balanced account to avoid market risk, pointing out that all parties have different sources of funds for balancing accounts. By analyzing the current situation of domestic power industry, it reveals the deep-seated reasons for the unbalanced investment in power grid construction. Theoretical analysis and empirical analysis show that grid enterprises should neither undertake nor balance the risk of fluctuations in their accounts. Supplemented by the 2001 California power market crisis in the grid company’s loss of 13 billion US dollars on the verge of bankruptcy as an example, on this basis, combined with the East China Power Market CFD settlement model, at the same time give balanced account design ideas and balance account settlement formula, and use East China Electric Power Market in 2004 bid data for an example analysis.