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| The economic impact of abolishing electricity price subsidies in china:Analysis based on electricity price regulation market and perfect competition market |
| ZHANG Ning1, PANG Jun1, WEN Jing1, WANG Jun-xia2 |
1. School of Environment and Natural Resources, Renmin University of China, Beijing 100872, China;
2. China National Environmental Monitoring Centre, Beijing 100012, China |
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Abstract A CGE model features an electricity sector subdivision was used to evaluate the economic impact of the following four measures under the electricity price regulation market and the perfect competition market: The abolition of cross-subsidy to electricity price. The abolition of the subsidy to renewable electricity price. Introduction of carbon tax policy. Recycling the carbon tax revenue to the wind power and photovoltaic industries. Results show that the abolition of the cross-subsidy system of electricity price will result in negative impact on GDP, and the adverse effect will increase by 0.003% under the electricity price regulation market when compared with the perfect competition market. There are contrary results that GDP will increase after abolition of the subsidy to renewable electricity price, and the positive effect will decrease by 0.056% under the electricity price regulation market comparing with the perfect competition market. The GDP will decrease by 0.022% under the electricity regulation market but increase by 0.038% under the perfect competition market separately when both cross-subsidy system of electricity price and the subsidy to renewable electricity price cancelled. Abolition of both across-subsidy system of electricity price and the subsidy to renewable electricity price only have very small impacts on power structure and energy structure under the electricity regulation market, but it will effectively stimulate the consumption of traditional electricity commodities and result in an increase in carbon emissions. Levying carbon tax and related transferring carbon tax revenue to the wind power and photovoltaic industries can effectively reduce carbon emissions and promote the improvement of power and energy structure, but will have additional negative impact on the total output of all industries and GDP. Therefore, the electricity price regulation should be lifted moderately, and the supporting policies such as levying carbon tax and transferring its revenue to the wind power and photovoltaic industries can be adopted in time in order to optimize China's energy structure and achieve the goal of China’s energy-conservation and emission-reduction.
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Received: 15 October 2021
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