The design of government-driven renewable energy contracts for difference in the UK electricity market and their implications for China

CUI Changjiang; LI Yupeng; DENG Wenli; LI Shimin; QIN Lijuan; JING Zhaoxia

doi:10.11930/j.issn.1004-9649.202409001

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The design of government-driven renewable energy contracts for difference in the UK electricity market and their implications for China

更新时间：2026-03-17

- The design of government-driven renewable energy contracts for difference in the UK electricity market and their implications for China
- Vol. 59, Issue 3, Pages: 74-83(2026)
- 作者机构：
  
  1. 广西电力交易中心有限责任公司,广西,南宁,530013
  2. 华南理工大学电力学院,广东,广州,510641
- 作者简介：
- 基金信息：
- DOI：10.11930/j.issn.1004-9649.202409001
  CLC：
- Online First：16 March 2026，
  
  Published：16 March 2026
- 稿件说明：
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崔长江, 李煜鹏, 邓雯丽, 李世民, 秦丽娟, 荆朝霞. 英国政府驱动的新能源差价合约设计及对中国的启示[J]. 中国电力, 2026, 59(3): 74-83.

CUI Changjiang, LI Yupeng, DENG Wenli, et al. The design of government-driven renewable energy contracts for difference in the UK electricity market and their implications for China[J]. 2026, 59(3): 74-83.
崔长江, 李煜鹏, 邓雯丽, 李世民, 秦丽娟, 荆朝霞. 英国政府驱动的新能源差价合约设计及对中国的启示[J]. 中国电力, 2026, 59(3): 74-83. DOI： 10.11930/j.issn.1004-9649.202409001.

CUI Changjiang, LI Yupeng, DENG Wenli, et al. The design of government-driven renewable energy contracts for difference in the UK electricity market and their implications for China[J]. 2026, 59(3): 74-83. DOI： 10.11930/j.issn.1004-9649.202409001.

摘要

随着新型电力系统与电力现货市场建设同步推进，稳妥有序推动新能源参与电力市场，同时设计支持其可持续发展的机制是需要重点研究的问题。英国差价合约的实践经验具有重要的借鉴意义。对英国差价合约的参与方、主要流程及概念进行阐述，对机组分类、行政执行价计算、合约分配、参考价计算等方法进行总结和分析，提出适合中国新能源发展的政府授权差价合约设计建议，包括：根据政策目的分为衔接新能源保障性政策的衔接型合约以及用于解决新能源相关外部性问题的主动型合约两类；合约目标需要关注市场力控制和结算试运行阶段不同市场模式的衔接；设计参考价时需要考虑中国现货市场的模式及中长期交易的管制现状；合约量尽量采用事前确定模式等。

Abstract

With the simultaneous advancement of new power systems and electricity spot markets

a critical challenge lies in ensuring the secure and orderly integration of new energy into the electricity market while establishing mechanisms that underpin its sustainable development. The UK's experience with contracts for difference (CfD) offers valuable insights in this context. This paper elucidates the key participants

primary processes

and fundamental concepts of the UK's CfD mechanism. Methodologies related to unit classification

administrative strike price calculation

contract allocation

and reference price determination are systematically summarized and analyzed. Building on this analysis

a government-driven CfD framework tailored to China's new energy development is proposed. Key recommendations emphasize the categorization of contracts into two types based on policy objectives

including transitional contracts to align with existing new energy support policies and proactive contracts to address new energy externalities. The objectives of contracts should focus on market power mitigation and the coordination of diverse market modes during the settlement trial phase. Reference price design is recommended to account for China's spot market structure and regulatory realities in medium and long-term transaction

while contract volumes are suggested to adopt ex-ante allocation modes.

关键词

Keywords

references

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