Performance-based regulation in Hong Kong electricity market

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Performance-based regulation in Hong Kong electricity market

 

Author: Zhao, Yong Jin
Title: Performance-based regulation in Hong Kong electricity market
Degree: M.Sc.
Year: 2014
Subject: Electric utilities -- China -- Hong Kong
Electric utilities -- Rate of return
Hong Kong Polytechnic University -- Dissertations
Department: Faculty of Engineering
Pages: ix, 60 pages : illustrations
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b2818302
URI: http://theses.lib.polyu.edu.hk/handle/200/8054
Abstract: Electricity is supplied by two investor owned utilities, namely, Hong Kong Electric Company Ltd (HEC) and CLP Power Hong Kong Ltd. (CLP) in Hong Kong. Both utilities have been operated in a vertically integrated structure covering electricity generation, transmission and distribution services for a long history. Since 1960s, both utilities entered a sort of agreement with the Government known as Scheme of Control Agreement which essentially aims to provide permitted returns to investments and in return the utilities are expected to ensure a qualitative electricity supply. Through analyzing the performance of electricity utilities operated under the SOC, rate-of-return regulation under the SOC not only have positive effect on the investment in power supply, but also have negative effect on inefficiency in the Hong Kong electricity market. As long as the Government continues to rely on the Scheme of Control to prevent the regulated utilities from earning excessive profits, some adjustments or amendments should be made to improve the situation. Regulation is still required in the electricity market. In this dissertation, performance-based regulation is advocated to improve the existing SOC. Aiming at the social goals such as emission control, efficiency, service quality, reliability and renewable energy consumption, PBR will be applied under the SOC to provide incentives to construct the photovoltaic distributed generation and expand the interconnection system.

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