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8 Dec 2023: www.eprg.group.cam.ac.uk. 重构中国电力供应行业—如何决定自由电力市场中的工业电价：借鉴英国经验. EPRG 工作论文 1839. 剑桥经济学工作论文 1871. 迈克尔 G.波利特. 莱维斯戴尔. 摘要 本文开篇介绍英国工业电价的构成，作为全面改革电力市场的范例。英国电力市场规模大约相当于中国的一个大省。在分析电价构成之前，本文将探讨英国自由电. 力市场中的关键参与者。我们首先讨论市场决定因素，其次介绍和讨论价格监管因素，. 最后是中央政府决定的价格部分。本文讨论内容涉及多种税费价格的决定，包括批发. 价格、零售利润、输电费用、系统平衡费用、配电费用和环境税费。本文依序探讨上. 述每种费用的决定过程（由市场、监管机构、中央政府或者多个因素主导）以及可供. 中国借鉴的具体经验。最后，强调可供中国借鉴的高层级电价决定经验。. 关键词 中国电力市场改革; 工业电价; 电力自由化 JEL Classification L94. 联系人 m.pollitt@jbs.cam.ac.uk 出版日期 2018年11月 金融支持 ESRC Impact Acceleration Award. 1.

29 May 2024: LIONEL D. SMITH. List of Publications May 2024. Books. The Law of Loyalty (New York: Oxford University Press, 2023). This monograph of about 180,000 words elucidates common legal principles underlying the use of powers in public law and private law, looking at the common law and the civil law. It aims to provide a theory of how Western law regulates the situations in which we hold legal powers, not for ourselves, but for and on behalf of others. Waters’ Law of Trusts in Canada, 5th edition; with Donovan Waters and Mark Gillen (Toronto:. Carswell, 2021). As in the 3rd edition (2005) and 4th edition (2012), I was responsible for chapters 10-11, 17-21, 23-30, and the Appendices. Canadian Corporate Law: Cases, Notes and Materials, 4th edition; with Bruce Welling and Leonard. Rotman (Toronto: LexisNexis Canada, 2010). In this edition, I was responsible for chapters 5, 6, and 7. I also participated, with different responsibilities and co-authors, in the first (1996), second (2001) and third (2006) editions. Oosterhoff on Trusts: Text, Commentary and Materials, 7th edition; with Albert Oosterhoff, Robert. Chambers, and Mitchell McInnes (Toronto: Carswell, 2009). In this edition, I was responsible for chapters 1, 10 and 15. I also

12 Dec 2023: 1. Measuring the effects of power system reform in Jiangsu province, China. from the perspective of Social Cost Benefit Analysis. Tianyu Li a, Ciwei Gao a, Michael G Pollitt b, Tao Chen a, Hao Ming a a School of Electrical Engineering, Southeast University, Nanjing, 210000, China. b Judge Business School, University of Cambridge, CB2 1AG, United Kingdom. Abstract The paper uses a social cost benefit analysis (SCBA) approach to measure the effects of the power. system reform starting from 2015 in Jiangsu province, China. We review the background of Jiangsu power. system and summarize the implemented policies since the publication of “Document #9”. Then we pick. the average industrial and commercial retail price and analyse the sources of price reductions. We show. that the nominal industrial and commercial price fell by 21.3% between January 2012 and May 2021. We. then analyse the likely overall welfare change facing industrial and commercial customers using SCBA. and conclude that there is a permanent gain equivalent to 9.1% lower prices per year mainly because of. the reform. This figure is a significantly more positive consumer gain than that calculated in previous. SCBAs of electricity reform in other countries. Keywords

3 Apr 2024: 1. C U R R I C U L U M V I T A E. Wah Sung Vincent Mak（麥華嵩）. Address: Cambridge Judge Business School University of Cambridge Trumpington Street Cambridge CB2 1AG United Kingdom Tel: 44 (0)1223 764295 Email: v.mak@jbs.cam.ac.uk Faculty webpage: www.jbs.cam.ac.uk/people/vincent-mak/. PROFESSIONAL EXPERIENCE.  Professor of Marketing & Decision Sciences, Cambridge Judge Business School, University of Cambridge (since 2019; with tenure).  Reader (Associate Professor) in Marketing & Decision Sciences, Cambridge Judge Business School, University of Cambridge (2016-2019; with tenure).  University Lecturer (Assistant Professor) in Marketing & Decision Sciences, Cambridge Judge Business School, University of Cambridge (2014-2016; with tenure).  University Lecturer (Assistant Professor) in Marketing, Cambridge Judge Business School, University of Cambridge (2009-2014).  Visiting Assistant Professor, Department of Marketing, The Hong Kong University of Science and Technology (2008-2009). EDUCATION.  The Hong Kong University of Science and Technology.  2008 PhD in Marketing.  Visiting Scholar, The Fuqua School of Business, Duke University (January-May 2008).  University of Cambridge, Cambridge, UK

8 Dec 2023: www.eprg.group.cam.ac.uk. 重构中国电力的供应行业：广东电力市场试点情况. 评价. EPRG 工作论文 < 1807 >. 剑桥经济学工作论文 < 1818 >. 迈克尔 G.波利特. 杨宗翰. 陈浩. 摘要 本文讨论了中国最大省份广东在中国国务院于2015年3月发布9号文件《关于进. 一步深化电力体制改革的若干意见》以来所实施的电力行业改革。作者结合国际经验. 介绍了广东电力批发市场试点情况，讨论了广东的试点市场是如何运行的并将广东目. 前的市场设计与其他国家成功的电力市场做了对比，探讨了广东的改革是否为电力市. 场成功吸引了新的参与方，分析了改革对于电力行业企业运营和投资决定的影响，最. 后为中国政府深化电力行业改革提出了几个建议。. 关键词 电力市场改革、国际经验、中国广东、工业电价. JEL Classification L94. 联系人 m.pollitt@jbs.cam.ac.uk 出版日期 2018年2月 金融支持 ESRC Impact Acceleration Award and the ‘In Search of ‘Good’. Energy Policy’ Grand Challenge Project of Energy@Cambridge. 1. 重构中国的电力供应行业：. 广东电力市场试点情况评价1.

9 Jul 2023: The Global RegTech Industry Benchmark Report. Emmanuel Schizas, Grigory McKain, Bryan Zhang, Altantsetseg Ganbold, Pankajesh Kumar, Hatim Hussain, Kieran James Garvey, Eva Huang, Alexander Huang, Shaoxin Wang, Nikos Yerolemou. With the support of. 2. The Cambridge Centre for Alternative Finance (CCAF) is an international and interdisciplinary research centre based at the University. of Cambridge Judge Business School. It is dedicated to the study of innovative instruments, channels, and systems emerging outside of traditional finance. This includes, among others, crowdfunding, marketplace lending, alternative credit and investment analytics,. alternative payment systems, cryptoasset, distributed ledger technology (e.g. blockchain) as well as related regulations and regulatory innovations (e.g. sandboxes and RegTech). 3. 目次 執筆および執筆協力. 4. 謝辞. 5. 本レポートの概要. 7. CCAF Foreword. 15. Foreword by EY. 16. RegTech 関連団体からのメッセージ. 17 International RegTech Association (IRTA). 17 The RegTech Association (Australia). 17 Fintech Association of Japan. 17. 1. はじめに. 18 規制当局による RegTech の定義とその限界. 18 RegTech の機能的定義. 18 なぜ RegTech

4 Dec 2023: A1-1 A1-2 A2-1 A2-2 B1 B2 C1 C2. 聞く. 身近な場面でよく使われ. る基本的な語句がわかる。. 限られた範囲であれば、自. 分の専門分野でよく使わ. れる語句がわかる。. 身近な場面でよく使われ. る簡単な表現がわかる。. 自分の専門分野で必要な. 基本的な語句や表現が. わかる。. 日常的な話題について短. くはっきり話されれば、. 大切なポイントを聞き取. ることができる。. 日常のコミュニケーショ. ンでよく使われる表現が. わかる。自分の専門分野. でよく使われる語句を. 含む簡単な指示や説明が. わかる。. よく知っている話題なら、メ. ディア（音声メディア・テレ. ビ・動画など）から、主な内容. やデータを推測しながら聞き. 取ることができる。自分の専. 門分野でよく耳にする指示や. 説明がだいたいわかる。. 自分の専門分野の話題につい. て、構成がまとまっていれば. 理解できる。特定のポイント. を聞き分け、示すことができ. る。メディア（動画・講義・ウ. ェビナーなど）から、主要な事.

11 Dec 2023: www.eprg.group.cam.ac.uk. 改革中国电力行业——国际经验对《能源法（征求. 意见稿）》的启示. EPRG 工作论文 2028. 剑桥经济学工作论文 2091. 解百臣. 徐骏. 迈克尔 G波利特. 摘要 中国目前正在依据2015年公布的“9号文”对电力行业实行改革。然而这. 项改革至今尚未得到法律层面的立法支持。中国在2020年4月公布了最新的《能源法. （征求意见稿）》并且公开征求意见。此举也被认为是为能源行业的改革提供法律依. 据的重大举措。本文介绍了中国能源法的立法背景，并且从国际经验角度辨识了《能. 源法（征求意见稿）》中的不足之处。我们发现尽管《能源法（征求意见稿）》在推. 进竞争性环节和自然垄断环节的纵向分拆和形成不同的价格机制方面取得了明显的进. 展，但对于电力改革的其它措施仍然未能提供足够的法律支持。未来正式立法的《能. 源法》应当在企业横向重组，激励性管制，民营化和独立监管方面提出更明确的规定，. 同时《电力法》作为次级立法也需要进行更新以包括现货市场以及有效率地分配输电. 容量等改革措施。.

11 Dec 2023: www.eprg.group.cam.ac.uk. China’s Energy Law Draft. and the Reform of its Electricity Supply Sector. EPRG Working Paper 2028. Cambridge Working Paper in Economics 2091. Jun Xu. Michael G. Pollitt. Bai-Chen Xie. Chung-Han Yang. Abstract China is reforming its electricity supply industry under the guidance of the No.9 document published in 2015. However, such reform has not been supported by new legislation until now. China unveiled an Energy Law draft in April 2020 for public consultation. It is widely regarded as an attempt to provide a legal foundation for ongoing energy sector reforms. This paper introduces the legislative background to China’s Energy Law and then identifies the weaknesses of the April 2020 Energy Law draft from the perspective of international experience. We find that although the Energy Law draft represents positive progress on the vertical unbundling and the price mechanism with respect to the competitive and natural monopoly segments of the power sector, it still does not provide adequate support for most other elements. The enacted Energy Law needs to make more explicit provision on horizontal restructuring, incentive regulation, privatization and independent regulation, while the 1995 Electricity Law

11 Dec 2023: www.eprg.group.cam.ac.uk. What effect has the 2015 power market reform had on power prices in China? Evidence from Guangdong and Zhejiang EPRG Working Paper 2010. Cambridge Working Paper in Economics 2043. Bai-Chen Xie Jun Xu Michael G. Pollitt Abstract This paper presents an analysis of the impact of the recent power market reform process in China – following the No.9 Document issued in March 2015 - on the industrial price of electricity. We do this by picking a typical power price for a medium sized industrial customer in two of China’s leading reform provinces: Guangdong and Zhejiang. We find that power market reform, which is characterised by the introduction of wholesale electricity markets, has substantially reduced prices. Our detailed analysis shows that these price falls have come from a number of different sources: falls in the prices paid to generators, reductions in grid charges and falls in government taxes and additional charges. We show that by December 2019 the regulated price falls by 26.6% in Guangdong and by 27.0% in Zhejiang while the market price falls even further by 30.2% in Guangdong and 30.4% in Zhejiang compared with their regulated prices in January of 2012. Accordingly, the weighted retail price