On The Energy-consuming Right Trading System

The energy-use rights trading system is an important institutional arrangement to promote energy conservation and emission reduction and implement the "double carbon" target.Faced with the increasingly tight energy structure,the central government has proposed the reform of energy-use rights trading system with low-carbon transformation as the core.As one of the applicable instruments of the market reform of environmental resources,the improvement of the energy-use rights trading system is of vital significance to the realization of the goals of carbon peak and carbon neutrality and the construction of ecological civilization in the 14 th Five-Year Plan period.From the perspective of the normative composition of the system,the energy-use rights trading system covers four stages: total energy-use index allocation,initial allocation,index trading and quota payment,and can be divided into primary and secondary markets for energy-use rights trading.The primary market can be summarized as the confirmation and allocation of indicators for energy-use rights trading,and the secondary market can be summarized as the market circulation of energy-use rights indicators.In the specific development,given that the energy trading system is in the early stage of development,the overall development is still in the pilot exploration stage,and the regulation of energy trading has strong administrative regional development characteristics,resulting in the unbalanced development of energy trading in various regions and the lack of local policy regulation in practice.At the same time,due to the lack of legal guarantee and the vague definition of ownership,the initial allocation of energy rights trading in the energy trading system has gradually failed to meet the new demand of energy reform under the current "double carbon" target.The way to write off the indicators also needs to be further clarified.In addition,in terms of the interface between the energy trading system and external systems,the fragmented development of the energy trading system,the carbon emission trading system and the energy saving trading system,which are jointly used as national energy-saving and carbon-reducing governance tools,also needs to be clarified.Therefore,China should comply with the new idea of market-oriented reform of energy conservation and carbon reduction,and deepen the reform gradually according to the operation system of the energy-use rights trading system.Firstly,based on the characteristics of the overall regional development of energy-use rights index allocation,we should realize cross-regional energy-use rights trading and establish a national energy-use rights trading market,so as to realize the maximum allocation of domestic energy trading.Second,to clarify the right attributes of energy rights,to make the property nature of the object of energy rights clear in the transaction,and to reduce the government’s administrative intervention in the market transaction so as to stimulate market vitality.Third,to clarify the rules for the write-off of energy-use right saving indicators,to realize the implementation of the main responsibility of energy-using units in trading,and to use administrative means to provide bottom-line guarantee for the trading of energy-using units’ indicators.Fourth,coordinate the development of the energy-use rights trading system with related systems to prevent the waste of resources caused by overlapping systems and to avoid adding extra energy-saving burdens to energy-using units.