Research On The Impact Of Carbon Emission Trading On The Value Of Thermal Power Enterprises

As the global warming issue is gradually becoming an economic issue,many developed countries around the world have taken various measures to reduce CO2 emissions.According to the Paris Agreement signed by China in 2016,China is required to achieve the overall goal of carbon peaking by 2030 and carbon neutrality by 2060.2021 is the first year of online trading of carbon emission rights in China,and it is also the opening year of China’s 14th Five-Year Plan,the carbon trading will have a significant impact on the power industry,especially the thermal power industry,and how thermal power generation enterprises can maintain or enhance their own value in the process of carbon How to maintain or improve the value of the thermal power generation enterprises in the process of carbon trading has become a hot spot for scholars’ research.In this paper,Huayin Power Company was selected as the main evaluation object,and the EVA value of the historical period was evaluated based on the company’s consolidated financial reports from 2016 to 2020,and the company value of Huayin Power Company in the historical period was measured;the data in the table were adjusted to predict the income statement and balance sheet of Huayin Power Company in the next five years,and the EVA value from 2021 to 2025 was calculated and the enterprise value without carbon emission reduction effect;in addition,this paper composes the process of thermal power generation and delineates the process boundary of possible CO2 generation,and accounts for the enterprise carbon emission reduction value by combining the carbon price of online trading.The value of thermal power companies after carbon trading goes online is comprehensively assessed.By comparing the company’s value before and after carbon trading,the following conclusions can be drawn:the EVA method is more advantageous and accurate than other methods for assessing the enterprise value of thermal power companies;the EVA value of Huayin Power over the historical period can reflect the operation of the company and is basically consistent with the trend of the stock price;the company still occupies about 75%of the market share in the short term,and its profitability will gradually increase.It is expected that Huayin Power will exceed the enterprise value in 2020 in 2024 and continue to go up;the carbon emission reduction value is small but cannot be ignored,which can reflect the potential profitability of the enterprise outside the statement.It is recommended that the company should invest in key facilities such as efficient and clean plants and clean fuels in the context of carbon trading,and improve energy products and operations in order to reduce the company’s production costs and enhance its profitability.