Analyzing Information Disclosure in the Chinese Electricity Market
| Autor: | Weidong Liu, Xiangyang Wang, Luosong Jin, Jing Yu, Panting Zhao |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
Economics and Econometrics
020209 energy media_common.quotation_subject collusion risk Big data Energy Engineering and Power Technology lcsh:A 02 engineering and technology 010501 environmental sciences 01 natural sciences information 0202 electrical engineering electronic engineering information engineering Electricity market Quality (business) Industrial organization 0105 earth and related environmental sciences media_common Sustainable development sustainable development Renewable Energy Sustainability and the Environment business.industry Market clearing Information sensitivity Fuel Technology Collusion electricity market Electric power industry lcsh:General Works business disclosure rules |
| Zdroj: | Frontiers in Energy Research, Vol 9 (2021) |
| DOI: | 10.3389/fenrg.2021.655006/full |
| Popis: | Electricity generation relies heavily on fossil fuels in China, and this has posed great challenges for sustainable development. In 2015, China launched a new series of power reforms, aimed primarily at sustainable development and building a competitive power market system, where an information disclosure system plays an important role. This paper analyzes the effects of sensitive information disclosure, constructs different information disclosure scenarios, and compares the market clearing results under different scenarios. The results show that information transparency is conducive to the promotion of market efficiency. However, some problems, especially collusion, arise and inevitably bring negative impacts to the power market. Therefore, more attention should be paid to the content and quality of data transparency to avoid manipulations in the market. The data of power systems are complex and various, and thus big data applications may be conducive to effective information disclosure and better market regulation. Moreover, disclosure delay will help the electricity market become more transparent by reducing the risk of collusion. Besides, the information’s scope and contents, timing should also be taken into consideration. These findings may provide some references for the sustainable development of the electricity industry and have certain policy implications for policymakers. |
| Databáze: | OpenAIRE |
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