Research On Incentive Regulation Of Electricity Transmission Enterprise Under Deregulation

Since the early 1980's,many countries have implemented electricity sector reforms.Although their electricity industry structure and reform mode varies,but its essential target is:According to the product market and the capital market rule, introducing the market mechanism into the electricity industry,carrying on the resource configure through competition,privatization and price mechanism, enhancing the resource configure efficiency and enterprise internal production efficiency,thus to impetus society's sustainable development.The main characteristic of reform is to adopt the method of marketing and capital market rule,through the price mechanism,competition and privatization to obtain the disposition and internal efficiency,thus to achieve the efficiency goal.Major national electricity reform mainly is to introduce price mechanism and competition into the electricity generation and the electricity supply end,but the transmitting and allocation function is affected little owing to their monopoly nature. Along with the electricity generation side electricity market's establishment and consummation,the power distribution side relaxation remanufacture reform also gradually develops.The most important part of electricity market reform agenda includes introducing "Incentive" regulation instead of traditional "Cost Service" or "Return Ratio" into the maintaining power distribution link with monopoly nature. The goal of establishing excitability rules and regulations in power distribution is to provide incentive to enterprises to improve their investing and operating efficiency,as well as guarantee consumers to make a profit from the efficiency enhancement.The expectation incentive regulation mechanism can provide a stronger incentive to regular enterprises to reduce the cost,to improve service quality with effective cost, to stimulate(or at least not hindrance)new production and service's introduction,as well to promote effective investment and meeting price of regulated infrastructure service.The concrete goals of establishing effective power distribution enterprise excitability regulation mechanism are:(1)electrical network owner can recycle all cost including the movement,the maintenance and the investment;(2)must effectively provide long-term incentive to maintenance,promotion and expansion system;(3)price mechanism ought to be able to provide the excellent node signal, instructs the market participant where and when to use system to encourage its effective transmission system.Corresponding to power distribution enterprise regulations,there are three aspects:excitability regulations of power distribution price, excitability regulations of service quality,as well as excitability regulations of incentive expansion of power distribution network.These three aspects are related mutually,and are also paid attention to by various countries' scholar and electricity market reform practitioner.This research will also launch from these three aspects.Undoubtedly,research of power distribution enterprise's power distribution price's excitability regulations,service quality's excitability regulations as well as power distribution network's incentive expansion excitability regulation has extremely strong theory and policy meaning,and these research results will also have important influences on electricity profession reform carried on by other countries. Simultaneously,the argument in these research also indicates,on choosing governing pattern,incentive regulation mode and investment mode of electric transmission net work company,theories and practices have still not found the most superior pattern. Countries in the reform process must unify its own condition with suitable government and investment pattern.This paper mainly elaborates incentive regulation goal of electricity transmission enterprise mentioned above,and innovates as the following aspects:(1)Summarized practical problems which needed to solve in incentive regulation theory's application in electricity transmission enterprise.These questions mainly include:Where do the regulators obtain the information of enterprise's real cost and opportunity cost distribution? What type of datum to take as target of regulated enterprises' cost,income and other achievements,and how to revise the datum according to time variation? What intensity should the incentive mechanism have? Should the incentive mechanism have the integrity or the "topicality"? Answers to these questions will have vital significance to our electric market reform,especially to the determination of the incentive regulation frame.(2)Attempted to use economic model and comparative analysis method to explore excitability regulation goal pattern under the Chinese present invariable environment.On the foundation of analyzing information rent which affects incentive regulation intensity and factors of regulation contract's implementation,along with our actual condition of electricity industry,pointed out regulation policy with excitation density is appropriate.(3)Inspected achievement appraisal technical method involved in incentive regulation and rod incentive regulation method and process.On the foundation of further analyzing present situation of our electric transmission price regulation, unifying concrete characteristic of electric transmission enterprises and rod competition theory and achievement rod method,proposed a comprehensive electric transmission price control model which combines price upper limit control and rod competition control,especially a measure model of production efficiency of electric transmission enterprise based on Malmquist index.As well as conducted thorough research synthesizing regulation goal,structure design,input factors,X factor of (RPI+X)+/-Z and hypothesis of Z factor of electric transmission price control model.(4)In the third chapter,the article does not take variation of electric energy when researching electric transmission service price incentive regulation.However, electricity supply interrupt and electricity quality may create huge direct and indirect economic loss to users.From another perspective,electric transmission enterprise may provide users electrical energy product of different quality if condition permitted. In the fourth chapter,through the Malmquist productivity index to combine electricity transmission enterprise's price regulation and transmission grade of service incentive effectively,achieved balance between cost saving and grade of service,proposed electricity transmission enterprise grade of service regulation incentive model--Based on price upper limit incentive regulation revision model.Introduced grade of service inspection content to guarantee user's power supply quality and reliability will not reduce under the rod competition condition.(5)Because it is a very important question for the asymmetric information between regulator and regulated enterprise's in the nature monopoly regulation,which main performance is that the cost was not understood the effects to reduce the cost was not observed,this will cause the game between the regulator and regulated enterprises in the choice of incentive regulation tools.The most main dispute of the price caps incentive regulation policy lies in the determination of efficiency improvement foundation and how to transform them to the tariff change value(X factor).The regulator may use the different Regulatory benchmarking to determine the method to obtain X factor,in other words,the regulator and regulated enterprises can the same rules and regulations carry on game when they use these method. However,it is extremely little brings to people's attention for the question which the game or the strategy behavior between regulator and regulated initiate.Which strategy behavior did the application of the price caps lead to? When the electricity utilities was Supervised by the incentive benchmarking deregulation based on DEA,Some strategy questions was inspected and analyzed through the actual data in electric power enterprise.The results of Empirical Analysis provide much beneficial enlightenment to optimize incentive regulation policy.(6)Constitutive split of electricity profession in China has completed initially. But our country's electric transmission network construction is extremely weak,and the lag of electric transmission network construction has already become the "bottleneck" of electricity generation market competition.Under electricity profession reform background,traditional electric transmission network expansion pattern is facing huge challenge.How to provide correct investment inspiration to electric network company to effectively expand network of electric transmission company under existing govern and stock right structure is a big topic before us.Therefore to analyze relationship between price regulation and transmission capacity of electric transmission company in the fifth chapter,and discussed tow patterns(incentive regulation pattern,transmission right pattern)of present transmission capacity expansion separately,further explore feasible pattern of electric transmission capacity expansion--Financial transmission right market.In brief,organizational reform of our country's electricity industry is entering a new stage,and independent electricity transmission network and supervising organization has already established.Under our country's electricity profession reform background,traditional power transmission network price regulation and network expansion pattern are facing huge challenge.How to determine effective price regulation pattern,to provide correct investment inspiration to electric network company and cause electric transmission network company to expand effectively under existed govern and stock right structure are all difficult problems to new electric supervising organization.Research to these questions have good reference value to our electric reform,and will play model role to other foundation industry reform, therefore has academic significance and suitable value.