当前,中国煤电纵向整合是一个焦点。本文在我国煤电纵向模式选择的基础上,分析了煤电纵向整合及其产业政策和竞争政策的互动和协调,进而提出相关的政策建议。笔者认为,在不同的市场背景下,解决煤电矛盾的办法是不同的,不存在最优政策,也没有单一的方法。针对煤电矛盾,依据不同的市场环境和制度背景,组合不同的政策,巧妙地权衡各种政策的利弊,才是唯一可行的办法。 At present, vertical integration of China’s coal is a focal point. Based on the selection of vertical mode of coal and electricity in our country, this paper analyzes the vertical integration of coal and electricity and the interaction and coordination between industrial policy and competition policy, and then puts forward relevant policy suggestions. The author believes that in different market context, the solution to the contradiction between coal and electricity is different, there is no optimal policy, there is no single method. In view of the contradiction between coal and electricity, depending on the market environment and institutional background, it is the only feasible solution to combine different policies and skillfully weigh the pros and cons of various policies.