A Study On The Impact Of Electricity Cross-subsidies On The Efficiency Of Industrial Green Development In China And Its Pathways

After the reform and opening-up,in order to ensure people’s basic livelihood,the state established a cross-subsidies system for electricity prices between industrial and residential users.The selling price of residential electricity in China is far below its cost,while the price of industrial electricity is always higher than its cost.With the development of economy,the long-term existence of electricity cross-subsidies system has exposed many drawbacks.Therefore,it is the direction of the following policy adjustments to carry out the electricity market reform and gradually optimize the cross-subsidies mechanism and restore the market properties of electricity commodities.Although many scholars have studied the existing problems of electricity price cross-subsidies and made many beneficial attempts to optimize the problem of electricity price cross-subsidies.However,there are few literatures on the impact of electricity cross-subsidies system on the efficiency of industrial green development,and relevant research ideas and methods need to be further expanded.In this paper,we use the Ramsey model and the price-gap method to calculate the size of electricity cross-subsidies.In terms of the measurement of the efficiency of industrial green development,in order to make up for the incomplete measurement indicators in the existing literature and the insufficient consideration of people’s well-being,this paper constructs a two-stage network SBM non-radial model including the non-expected output.To analyze the impact of electricity cross-subsidies on the efficiency of industrial green development,Tobit model is used to explore the impact of electricity cross-subsidies on the efficiency of industry.At the same time,the influence path of electricity cross-subsidies on industrial green development efficiency was discussed,and the grouping regression and construction of cross-terms were used to test whether electricity cross-subsidies had an impact on industrial green development efficiency through environmental regulation,energy structure,factor input and industrial green investment.Finally,we further analyze the impact of the adjustment of the industrial economic development level on the efficiency of industrial development through cross-subsidies of electricity prices.The main conclusions are as follows:(1)Electricity cross-subsidies has hindered the improvement of industrial green development efficiency.(2)Electricity cross-subsidies have a negative effect on industrial efficiency by influencing environmental regulation,industrial electricity consumption and energy structure.(3)The development level of industrial economy has two regulatory effects in the process of cross-subsidies of electricity price inhibiting industrial green development efficiency.One is through the direct path(crosssubsidies of electricity price → industrial green development efficiency),and the other is through the indirect path(cross-subsidies of electricity price → environmental regulation/energy structure/ electricity consumption).Based on the above conclusions,this paper puts forward the following policy recommendations:(1)Control the scale of electricity cross-subsidies at the present stage to reduce the burden of industrial and commercial enterprises.(2)Adjust and reform the form of industrial electricity price and environmental tax,and adopt different electricity price standards according to the industrial power intensity.(3)Continue to gradually improve the electricity price mechanism at the residential end,and pay attention to the price subsidies for specific groups.(4)Implement differentiated industrial electricity prices in line with the coordinated development level of different regional economies,and cooperate with the implementation of differentiated electricity prices from the aspects of environmental regulation,electricity consumption and energy structure.In conclusion,this paper explores and optimizes electricity subsidies policy,and proposes to optimize the existing subsidies mechanism and power system reform based on a comprehensive analysis.It is helpful to make up for the shortcomings of the existing research,and also provides guidance for the future development of our electric power industry and the improvement of the efficiency of industrial green development.