一种基于标准化期货合约的中长期电力交易新模式

电力期货合约是一种能够有效降低电力现货市场交易风险的电力金融合约。随着中国电力市场改革的推进，电力交易的市场化程度逐渐提升，需要对未来可能应用的电力期货市场进行研究。针对国内电力市场发展现状，应用峰荷、腰荷、基荷3种标准化电力期货合约，设计了售电侧的中长期期货交易模型，并引入资金时间价值，进一步促进市场平稳起步。仿真算例说明了用户期货交易的基本方式，并验证了所提出的期货交易模型在降低电力成本风险上的有效性。

A New Mode for Medium and Long-Term Electricity Trade Based on Standardized Futures

The electricity futures are a kind of electricity financial contract that can effectively lower the trading risk in the electricity spot market. With the advance of China's electricity market reform, the marketization degree of electricity trade is gradually improved, which calls for studies on the potential electricity futures market. Based on the current practice of electricity markets in China, three kinds of standardized electricity futures contracts, including peak load, waist load and base load, are applied to design the medium and long-term futures trading model of the power selling side. Furthermore, the time value of capital is introduced to promote the fairness of the electricity futures market. The case study illustrates the basic strategy of futures trading, and verifies the effectiveness of the proposed model in lowering the risk of electricity cost.