The Feasibility Analysis And Contract Design Of China's Electricity Futures

With the rapid development of electricity market and the needs of risk management, it is very necessary to introduce a new tool for the electricity market. In this case, risk is managed, and the fluctuations of electricity price are decreased by use of the new tool. Futures are such tools and electricity futures have been applied to many countries successfully and China's electricity market has been set up a stadium-like building for electricity futures. It's necessary and feasible to introduce electricity futures to China.After analyzing feasibility of China's electricity futures by CVaR, the thesis designs electricity futures contract which should suits China's condition, cuts down the market risk of the electricity price's fluctuation, and attracts the partners by summarizing and analyzing the foreign electricity futures contracts and China's futures market.