| Electicity prices is one of the important issues of Electric Power System Reform and Improvement. Tariff reform is an important component of the power system, which carries great implication for establishing the electicity market and optimizing the power allocation of resources, and it is also an important strategic task of China's "Eleventh Five-Year" or even "the Twelfth Five-Year Plan". For the lack of existing research, this paper analyzes Chins's economic effects of prices fluctuations and the formation mechanism, and then makes an empirical research in reference of foreign research. The main contents of this paper is as follows:Chapter 2 Research of the linkage effects of China's electicity price fluctuation. This chapter carried on theoretical analysis and empirical research of the linkage effects of the electicity price, coal price and oil price. The results show that the Internet electricity price is the key to the formation of linkage of resource price and electricity price. The linkage effects of price fluctuation in China is a dynamic process of change, in general, although its effect is still not ideal, but its effects are gradually improving in recent years; the coal linkage is not the most effective and fundamental way to resolve coal linkage contradiction, and There is a certain difference between the two effects of policies.Chapter 3 Research of China's macro-economic effects of electicity price fluctuation. First, this chapter analyzed the theoretic aspects of the electricity price fluctuation on the macroeconomic impact, and then used empirical econometric models testing the results above. Then using TARCH models to analyze the asymmetrical effect. The results show that price volatility has significant asymmetric effects on economic growth.Chapter 4 Study of the energy-saving and environmental protection effects of electricity price fluctuation. This chapter using the Granger non-causality test and the input-output method studied the effect of price fluctuation. With the use of error correction model and panel data model, this chapter analyzes the effects of price fluctuation in energy-saving. The results show that price volatility and our unit of GDP energy consumption was negatively correlated. The relationship between the China's price fluctuation and sulfur dioxide and soot emissions is the long-term equilibrium. A certain degree of price rise could reduce China's sulfur dioxide and soot emissions. The rising of the electricity prices can raise investment in environmental pollution control of China's total GDP, and accelerate the development of China's environmental protection industry.Chapter 5 Empirical analysis of the factors that influence power price. Firstly, this chapter analyzes the factors that affect price volatility and its mechanism. Then we use multiple linear regression model and chow test to analyze the real impact of the factors. The results showed that there is a long-term equilibrium relationship among the fuel power, price indices, gross domestic product index, R&D input funds, the consumer price index, the total installed capacity index, the proportion of secondary industry and the interest rates and electricity price index. The effect of proportion of secondary industry, interest rates and consumer price index are less significant, while the purchase of fuel prices, R&D input funds, gross domestic product index, installed capacity of electricity and the price volatility index is positively correlated. The effect of national policies on price is significant.Chapter 8 Policy recommendations of the improvement of electricity price formation mechanism. Based on the above conclusions, this chapter elaborated on China's reforms in the electricity price formation mechanism, including the electricity price formation mechanism reform, basic principles, basic ideas and the associated system.This paper may have the innovative work including:(1) Systematic, quantitative study of linkage effects between electricity with coal, oil and other resource prices, and quantitative evaluation of the efficiency of linkage policies.(2) The quantitative study of price fluctuation on the impacts of economic growth, economic cycles, a variety of price indices and employment. We s China's economic growth effects of price fluctuation with the TARCH model on, in particular, for asymmetric effects empirical analysis.(3) With the Granger causality test, the input-output method, this paper studied the effects of price fluctuation in the industry. And with the error correction model and panel data model, this paper analyzed energy-saving effect of price fluctuation. (4) Systemic summarizes the impact of price volatility factor, a theoretical hypothesis and empirical tests using econometric models; Model includes a more comprehensive impact of factors, including the cost of power generation, power system, installed capacity and system load factor, scientific and technological development level, economic growth rate, natural conditions, the consumer price index, tax policy and interest rates. And take advantage of chow testing, empirical analyzing the actual impact of the power system to the price fluctuation.(5)This paper does the in-depth analysis of electricity price formation mechanism of the reform of China's basic principles, basic ideas and related institution building, innovative mechanisms and modalities.
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