【摘要】 绿色证书强制性产权的界定,一方面,其排他性和可交易性有利于发挥绿色证书市场配置资源的作用;另一方面,其正外部性的实现有赖于政府的管制措施补偿私人成本与社会成本差异。为实现外部性内在化,基于管制经济学的研究范式,分析了绿色证书的环境外部性对市场效率的影响,并针对此影响研究了具体的价格管制措施。研究表明:绿色证书的最低限价设定应不低于0.371元/千瓦·时;在不同消纳权重下,绿色证书最高限价不同,消纳权重为20%时,绿色证书的最高限价为1.855元/千瓦·时;消纳权重为30%时,绿色证书的最高限价为1.237元/千瓦·时。在此价格管制下,有利于降低市场价格波动风险,激励和约束绿色证书的市场主体参与绿色证书交易,有望提升中国绿色证书市场效率。更多还原

【Abstract】 The coercive property rights of green certificate should be defined. On the one hand, its exclusivity and tradability are conducive to the role of green certificate market in allocating resources; on the other hand, the realization of its positive externality depends on the government’s regulatory measures to compensate for the differences between private costs and social costs. In order to internalize its externality, based on the research paradigm of regulatory economics, this paper analyzes the impact of environmental externality of green certificate on market efficiency, and studies specific price regulation measures. The research shows that: the minimum price of green certificate should not be lower than 0.371 yuan/kwh; under different obligation quota, the maximum price of green certificate is different, when the obligation quota is 20%, the maximum price of green certificate is1.855 yuan/kwh and that when the obligation quota is 30%, the maximum price of green certificate is 1.237 yuan/kWh. Under this price regulation, it is conducive to reducing the risk of market price fluctuation, encouraging and restricting the market participants of green certificate to participate in green certificate trading, which is expected to improve the efficiency of China’s green certificate market.更多还原