Study On Energy Performance Contracting Projects Risk Based On The Double Moral Hazard

Energy Performance Contracting(EPC) is a new type of energy servicemechanism, which originated in the1970s oil crisis, which is dominated by EnergyService Company (ESCO) and energy consumption signed between enterprises forsaving energy and reducing consumption nature of the service agreement, throughenergy services to enterprises able to provide a range of integrated services, mainlythrough Energy Service Company take the initiative to provide funding to theenterprise or from other sources of energy service system for part of the funds neededto run the contract energy, etc. project management mechanism, this mechanism canmake service-oriented enterprises to save energy consumption, waste a lot of energyto obtain benefits, so this new type of energy service mechanism developed by themajority of the recognition and implementation.In recent years, China’s energy consumption also made strict requirements, theState since2010, gradually began to focus on the development of energy servicesindustry status, which means that energy services industry is very big, and thus shouldbe the promotion of national achieve energy-consuming enterprises or other forms ofenergy-consuming organizations should take active Energy Performance Contractingproject mechanisms. Energy Performance Contracting mechanism for thedevelopment of China’s economy will have a significant impact on practice. EnergyPerformance Contracting can be seen as an emerging industry has gradually become ahot academic theory, of course, scholars from many angles, respectively, the EnergyPerformance Contracting and risk management aspects of a lot of research work, butalso enriched the theories on this new industry knowledge. Energy service system isnot perfect, Energy Service Company operating mechanisms and modalities needfurther exploration, to the service enterprise performance evaluation has not beenestablished norms, scientific evaluation, together with the existence of both partnersdouble moral hazard problem in the case to the implementation of the EnergyPerformance Contracting mechanism caused a lot of obstacles, so we need to considerthe problem of moral hazard in the case of dual contract agreement be reached to finda balance.This text introduces the purpose and significance of the study, research status,contents and methods of the study, but throughout literature, academia, the doublemoral hazard risks and Energy Performance Contracting projects relatively few studies linking; and then introduced the Energy Performance Contracting theoriesassociated with the concept of the double moral hazard, and further elaborated adouble moral hazard problem causes, and further referred to some of the theoreticalbasis of this thesis analyzes; then expounded Energy Performance Contractingprojects double moral hazard analysis of the problem, referred to as the EnergyPerformance Contracting project risk management operating environment analysisand operational processes, Energy Performance Contracting project risk identificationand characteristics were objective description and further double moral hazard for thegeneration and the Energy Performance Contracting projects the impact of a furtheranalysis; focuses on the energy management contract exists if the problem ofasymmetric information brings double moral hazard problems, from the perspectiveof game theory was established EPC project of double moral hazard model to explainthe game Energy Performance Contracting projects both partners in the case of moralhazard mutual benefits how to obtain the optimal solution of the problem; Finally, wediscuss the development of better energy management contract proposals andmeasures, such as from the government level, the level of Energy Service Company,energy consumption enterprise level and cooperation between the two sides should bein line with the goal to achieve win-win situation to further promote the developmentof energy management contract proposal. This paper is an attempt from the doublemoral hazard Energy Performance Contracting projects for project risks angle forfurther theoretical discussion. EPC project hopes to establish a double moral hazardgame model to obtain the double moral hazard problem in case of game analysis, Ihope the results of this analysis can improve the success rate of co-operationagreement between the parties to make some reference value and practicalsignificance, true enables enterprises to reduce the consumption of high consumption,so as to achieve sustainable development of enterprise and national purpose.