| As China's major energy supply chain,the coal-electricity supply chain caused some questions like high energy consumption and high-pollution which have become the focus of the society and severely affected China's high quality economic development.On September 22,2020,Chinese President Xi Jinping announced a statement at the General Debate of the 75 th Session of the United Nations General Assembly that China is strive to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060.As one of pillar energy supply chain in China,the coal-electricity supply chain is the key industry which needs to be reformed to build a clean,green and low-carbon society.In addition,it is vital to realize the high efficiency and practicality.Power generation industry has also been listed as the first batch of industries which has limited carbon emission in the trade market.If we introduce the notion of clean coal in the traditional coal power supply chain and the input of clean coal technology of coal industry and the emission reduction of downstream power generation enterprises,it will have an impact on the level of clean coal of the entire coal-electricity supply chain.Meanwhile,the capital constraint question has been generally in this supply chain,which has also become a major reason of obstructing the clean and low-carbon development of the coal-electricity supply chain.China's coal-electricity power supply chain presents the following main characteristics: First,coal resources have the characteristics of regional distribution.On the whole coal resources in Northwest China are relatively abundant;Second,coal quality levels are uneven,the higher the coal quality is,the greater the heat energy released per unit of combustion and the less greenhouse gas emissions.Third,the power generation enterprises are relying on the thermal power generation and they are taking on the responsibility of reducing emission.However,the quality of coal sold by upstream coal enterprises and the power equipment will have a direct impact on the power efficiency.Fourth,the coal-electricity supply chain generally decreases carbon emission by clean coal technology input and power generation technology emission reduction methods.Fifth,the coal-electricity supply chain is short of operating funds as usual;the company could encourage the low carbon production behavior by green finance and low carbon subsidy.Based on above,this article takes the coal-electricity supply chain as research object.In the context of cap-and-trade model,according to the Stackelberg Game,this article studies both the technology investment of clean coal in the capital constraint coal-electricity supply chain and the financing strategies of emission reduction in power generation enterprises.In the same time,the author takes the balance of coal power supply chain under multiple financing policies,which provides theoretical support for the coal-electricity supply chain to obtain lowcarbon production and financing.First of all,we should study the optimizing strategy of coal-electricity supply chain under the cap-and-trade model.Taking the green preference of consumers into account and then building the Stackelberg Game structure and investigating the clean coal technology investment strategy and coal pricing strategy of coal enterprises and the coal ordering strategy of power generation enterprises under the circumstances whether with the carbon cub-and-trade and trading mechanism or not.We can have some conclusion:(1)Compared to without carbon-cub-and-trade mechanism,when the market price of clean coal is more sensitive to its supply quantity and the carbon emission trade price is quite low,the coal enterprises with cap-and-trade model will have lower clean coal technology input level.(2)The impact of implementing capand-trade model is up to the sensitivity coefficient of the market price of clean coal to the supply quantity,and the carbon emission trade price and the initial carbon emission level of coal enterprises.(3)Under the two different circumstances whether with cap-and-trade model or not,with the increase of green preference of consumers,the technology input level of clean coal in upstream coal enterprises will gradually increase.(4)In case of without cap-and-trade model,with the increase of cost coefficient of clean coal technology investment,the technology investment of clean coal in coal enterprises will decrease.People can only improve sales of clean coal through reducing its wholesale price.Under cap-and-trade model,the technical cost coefficient of power generation enterprises has a certain negative correlation among the technology investment of clean coal of upstream coal enterprises,coal wholesale price,and the clean coal sales of downstream coal enterprises and its profit levels.(5).The transaction price increase of carbon trading market will lead to the drop of wholesale price which made by coal enterprises,but the purchase quantity of clean coal in downstream power generation enterprises.As for clean power generation enterprises,higher price level of carbon emission trade price is beneficial to the development of coal enterprises.But as for high-pollution power generation enterprises,it will advance the technology investment of clean coal.Second,we will study the clean coal technology investment strategies of capital constraint coal-electricity supply chain under the cap-and-trade model background and green finance policies.The research results display that:(1)With the change of the size of clean coal technology investment and the clean degree of clean coal,the cap-and-trade model price will have a positive effect on technology investment and the emission duction level of power generation,the order quantity of clean coal and the profit of these clean coal enterprises;(2)As for non-clean enterprises,the change of carbon trade price will have an inhibitory effect or no effect on profit,technology investment of clean coal,the emission duction level of power generation.(3)Under the condition when coal-electricity supply chain have capital constraint,if we can improve the green credit discount,we will work out the problem of capital constraint in coal enterprises and promote the use of clean coal and encourage the emission reduction of power generation enterprises.Third,we will study capital constrained clean coal technology investment strategies of coal-electricity supply chain in different codes under the background of the cap-and-trade model and low-carbon subsidy policies.We can know by using Game playing:(1)Under different dominant models,the optimum strategy of the coal-electricity supply chain will be different.This research find that the cost of clean coal technology will inhibit the enthusiasm of emissions reduction of the coalelectricity supply chain,and clean coal technology subsidies will promote clean coal technology investment and reduce power generation enterprises mission,including clean coal technology investment with clean coal technology subsidies and emission reduction effects of power generation enterprises will be more obvious.(2)The quality of clean coal,conversion coefficient of coal and electricity and green carbon preference will have a positive impact on the emission reduction of downstream enterprises.(3)And when power generation enterprises dominate,the overall clean and green level of the coal-electricity supply chain is better than when coal enterprise does.Fourth,we will study under the background of the cap-and-trade model and green finance policies,the clean coal technology investment strategies capital constrained in coal-electricity supply chain and the technology investment strategies of emission reduction in power generation enterprises.Build a Stackelberg Gaming model and take consumers' green preference into account,and explore the two different models led by coal enterprises and power generation enterprises,banks provide green credit service for clean coal technology investment and power generation enterprises' emission reduction,and study the clean coal technology investment strategies and clean coal pricing strategies of coal enterprises,and ordering strategies of power generation companies Coal.We can draw the conclusions as:(1)Under the background of green finance,the investment cost of clean coal and the price of carbon emissions permit trading will have a negative impact on the emission reduction of coal-electricity.However,financing interest of rate,interest rate discount of green credit,price policy,conversion rate of electricity and coal will have a positive impact on order quantity of coal-electricity and emission reduction and enterprises' profit.(2)The increase of green credit discount will promote the technology investment of clean coal and emission reduction and then it will improve the development of clean coal products and technological emission reduction services by lowing the financing cost.(3)The stricter regulation of coal-electricity price,the lower demand rate of coal-electricity sales.And the stricter regulation of coalelectricity price,the smaller order quantity and emission reductions.At last,it will lead to the supply contradiction of coal-electricity.Fifth,we will study the clean coal technology investment strategics of coalelectricity supply chain of capital constrained under the background of cap-and-trade and internal financing policies.To discuss how to implement the technology investment of clean coal under the background of cap-and-trade mechanism.The costsharing contract is used to solve the financial constraints dilemma of coal enterprises,that is,power generation companies with sufficient funds pay a certain proportion of the investment cost of clean coal technology in advance.Meanwhile,performing the Stackelberg Game under different supply chain dominance modes,and considering how the supply chain can achieve Pareto improvement under the clean coal technology investment strategies and the power generation emission reduction strategies.The research results show:(1)The cost of clean coal technology input and power generation emission reduction will both have a depressing effect on clean coal technology investment and power generation emission reductions;however,when power generation enterprises dominate,power generation emission reduction costs will not affect clean coal technology investment.(2)When coal enterprises dominate,as the cost of clean coal technology input increases,coal enterprises' profits will also increase.The high cost of clean coal technology will inhibit downstream power generation enterprises' enthusiasm for adopting clean coal.(3)Due to capital constraint in coal enterprises,the power generation enterprises with abundant funds will provide a part of clean coal technology investment to coal enterprises on loan,and the corresponding borrowing rate will suppress the input of clean coal so that power generation enterprises need to increase emissions.(4)There is an optimal clean coal technology investment cost sharing ratio in the coal-electricity supply chain,so that the overall supply chain can achieve Pareto improvement. |
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