| 电力期货与期权交易对水电商的风险规避作用 |
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| 引用本文： | 杨梅,王黎,杨道辉,马光文.电力期货与期权交易对水电商的风险规避作用[J].水力发电,2007,33(3):13-16. |
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| 作者姓名： | 杨梅 王黎 杨道辉 马光文 |
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| 作者单位： | 四川大学能源发展研究中心,四川,成都,610065;四川大学能源发展研究中心,四川,成都,610065;四川大学能源发展研究中心,四川,成都,610065;四川大学能源发展研究中心,四川,成都,610065 |
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| 摘 要： | 针对水电厂受电力市场电价波动与来水量不确定性的影响，设计了简单的水电厂风险管理案例。将期货与期权的交易模式运用于电力市场中，水电商可以利用期货的套期保值功能规避风险，让购电商和投机商分担电价风险；水电商也可以通过购买看涨或看跌期权，保证水电厂合约外的剩余电量在期望价格销售，减少弃水。
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| 关 键 词： | 水电商 风险 期货 期权 套期保值 电力市场 |
| 文章编号： | 0559-9342（2007）03-0013-04 |
| 修稿时间： | 2006-10-12 |
Risk Voiding Effect of Futures and Options on Hydropower Company |
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| Yang Mei,Wang Li,Yang Daohui,Ma Guangwen.Risk Voiding Effect of Futures and Options on Hydropower Company[J].Water Power,2007,33(3):13-16. |
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| Authors: | Yang Mei Wang Li Yang Daohui Ma Guangwen |
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| Affiliation: | Center of Power Development Research, Sichuan University, Chengdu Sichuan 610065 |
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| Abstract: | This paper makes use of the futures and options in the electric power market. Aiming at the water power station affected by the fluctuation of the electricity price and hydrological uncertainty, it designed simple risk-management mechanisms of the water power station. The hydropower company can use the function of hedging to avoid risk and ally with the traders and the retails to share risk. Or they can ensure the over electricity could sell out at an anticipant price by buy and sell call option and put option. |
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| Keywords: | hydropower company risk futures options hedge electric power market |
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