中信证券：新能源差价结算机制逐步建立，电力行业发展迈入新阶段

第一财经2025-04-15

中信证券研报表示，新能源差价合约在欧洲各国已广泛应用，通过为运营商锁定电价及盈利预期来促进投资积极性，推动能源结构转型。我国拟推动新能源全面入市，并建立新能源差价结算机制，缓解市场化交易量增价减对绿电运营商带来的盈利压力，具体效果需要看各地政策的实际情况，我们从全社会用电量口径测算差价结算费用对终端电费影响极为有限。新能源参与现货市场增加或将导致均价下降&波动加剧，具体影响取决于市场参与者的资源...

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