In 20 19, the carbon dioxide emissions of power industry accounted for more than 40% of the total carbon emissions in China. In this regard, Yang Fuqiang, senior consultant of the Natural Resources Protection Association, said that it is imperative for the power industry to demonstrate and promote the carbon trading market mechanism first during the "14th Five-Year Plan" period.
The power carbon market has great potential.
On February 20 17, the National Development and Reform Commission issued the National Carbon Emission Trading Market Construction Plan (Power Generation Industry). It is clear that the initial trading subject only lists the power generation industry (including cogeneration) as a key emission unit, and the initial trading products are quota spot. It is understood that the total carbon emissions of the first batch of power generation enterprises included in the national carbon market exceeded 3 billion tons, accounting for 1/3 of the national carbon emissions.
Li Lina, project consultant of Chuanglv Research Institute, pointed out: "China's carbon market construction adopts the' bottom-up' total control method, and the quota allocation method adopts the benchmark method. This method does not give the quota level in advance, and there is an adjustment process afterwards, which is not conducive to considering the carbon price when making investment decisions. In addition, in the case of loose baseline setting, it is likely that the total amount is too loose and the carbon price is too low, and the carbon market cannot achieve the goal of promoting emission reduction. "
Li Peng, deputy manager of Beijing Zhongchuang Carbon Investment Technology Co., Ltd. said that the carbon market will have a certain impact on coal-fired power enterprises. "In the short term, coal-fired power units, especially small units, will face greater pressure, so the carbon market will accelerate the elimination and shutdown of inefficient and backward small units. In the medium and long term, with the change of quota distribution mode, that is, gradually reducing the proportion of free distribution and gradually increasing the proportion of auction until the auction mode is completely adopted, the overall cost of coal-fired power units will be greatly improved. "
"Fortunately, the problems encountered in the development of the carbon market are gradually improving." Li Peng said that last year, the Ministry of Ecology and Environment released the implementation plan of carbon dioxide emission quota allocation for power generation industry, and the baseline was greatly reduced compared with the 20 17 version, which was conducive to encouraging the development of large-capacity, high-parameter and low-carbon units. "At present, the Ministry of Ecology and Environment is fully soliciting the opinions of provincial carbon emission authorities and power companies."
Carbon market helps power enterprises to make green transformation.
In view of the development of carbon emissions in the power industry during the Tenth Five-Year Plan period, Yang Fuqiang pointed out that the Tenth Five-Year Plan period is a crucial five-year period for the implementation of the independent contribution of the Paris Agreement, and the direction of China's response to climate change will remain unchanged and its efforts will increase. "For power companies, carbon market construction will actively promote their cleaner and more efficient development."
Zhang Xin, chief economist of the National Center for Strategic Research and International Cooperation on Climate Change of the Ministry of Ecology and Environment, said that during the "Tenth Five-Year Plan" period, the establishment of the national carbon market should take the power industry as a breakthrough and support corresponding supporting policies and financial measures. The national carbon market is a policy tool for emission reduction based on market mechanism, and the most cost-effective emission reduction cannot be achieved if the carbon price is too low or too high. "Therefore, the national carbon market should first build a' price corridor'-the highest price and the lowest price."
"At the same time, China should further improve and perfect the emission data management system. Data quality is the lifeline of carbon trading mechanism, and a set of perfect emission data monitoring, reporting and verification system must be established. In addition, as the first batch of enterprises to be included in the national carbon market, power generation enterprises should attach great importance to the construction of the national carbon market. " Zhang Xin said.
Li Peng predicted that carbon trading in power generation industry will run stably during the Tenth Five-Year Plan period. "On this basis, other mature industries with high energy consumption, such as electrolytic aluminum and cement, will be gradually included. At the same time, the variety of transactions will gradually increase. On the basis of spot trading, gradually develop futures, options and other trading forms.
Li Peng also pointed out that supporting measures should be strengthened during the Tenth Five-Year Plan period, and relevant standards for carbon emission declaration and verification need to be improved and updated urgently. "At present, the submission of data related to carbon emissions and quota allocation of enterprises is mainly based on national accounting standards and supplementary data tables, but the rules of these standard documents are not clear."
The experience of EU carbon market can be used for reference.
In 20 19, the total carbon emissions of more than 260 coal-fired power plants operated by the EU accounted for about 3 1% of its carbon market emissions, and the whole power industry accounted for about 55% of its carbon market emissions. Up to now, the EU has established the largest carbon market in the world, accounting for about 45% of its total carbon emissions.
Zhang Xin introduced that from 2008 to 20 18, the power generation of renewable energy in the EU increased by about 1.8 times. In 20 19, its wind power generation exceeded coal-fired power generation for the first time, accounting for 18% of the total power generation. "
"Before 20 12, the total amount of emission quotas in the EU carbon market was loose, and the carbon market failed to fully play its role. After 20 12, the EU carbon market has taken a series of measures to tighten the total quota, in which power companies will not receive any free quotas and need to auction or buy in the secondary market to obtain the required quotas. " Li Lina said.
Li Peng said that the EU carbon market has relatively perfect top-level design and supporting documents, such as total amount setting, quota allocation, monitoring report verification, transaction performance and other institutional documents, which have well guaranteed the operation of the carbon market.
"Two key experiences and lessons can be drawn from the construction of the EU carbon market: China's carbon emissions should be moderately tight in the process of setting the total quota; At the same time, it is necessary to adjust the quota supply and demand in the market in time to ensure that the carbon market price remains reasonable, so as to truly promote carbon emission reduction in the power industry. " Zhang Xin pointed out.
Original title: The power industry is still the "protagonist" of the carbon market during the 14 th Five-Year Plan period
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