Empirical Analysis On The Effect Of Regulation For Chinese Power Industry

Electric power generation industry is an important and basic industry of a nation, public utility which is related to national welfare and people’s livelihood and undertakes important social responsibility. Electric power generation industry has been developing rapidly which has relationship with regulatory reform in China. With the development of meaning of natural monopoly, the electric power technology, changes in demand and the power industry reform and China’s power system changing, power industry regulation model change from strict access regulation to deregulation, price regulation guidance from a planned economy to the present bidding, regulatory agencies from a number of regulatory changes slowly for a regulation, laws and regulations regulate changes more and more perfectly. As the source of the power industry, the quality power industry management has a major impact on follow-up part of the electric industry. Therefore, the test of the effect of the current power generation industry regulatory reform has very important significance for the next step of the direction reform. In recent years, China has carried out most of the electricity industry regulation reform in the power generation industry. The paper is divided into five parts. The first part reviews status of regulatory effect at home and abroad and then elaborated the relevant theory of regulatory effect evaluation, and briefly reviewed. The second part analyzes electric power generation industry status, the necessity of regulatory system reform. The third part combines with China’s power industry, build the evaluation criteria and indicators of the effect of regulation and empirical analysis of time series methods the effect of the regulation of the power generation industry at the industry level based on theory of regulation and the effect of regulation evaluation. The forth part uses panel data to measure regulatory effect from the aspect of interest rate of power generation companies. The last part obtains the current power industry regulatory reform effect conclusions.In summary, this paper draws the following conclusions:from the industry point of view, through three great reforms, China’s power industry as a whole has achieved some performance improvement, but each time the effect is not the same.The research of regulatory effects of power generation industry in this paper can provide an important analytical tool for analyzing effect of regulatory policy of power generation industry, some empirical basis for the comprehensive assessment of electric power generation industry regulatory effects and a reference and a new concept, new methods for other natural monopoly industry regulatory effectiveness analysis to improve regulatory efficiency and the quality of government regulation in China.