摘要

Vesting contract plays an important role in curbing market power, strengthening competition, and allocating generation costs at different stages of the development of Singapore's electricity market. It has lots of similarities with the contract for difference (CfD) authorized by the Chinese government. Firstly the paper introduces the reform process of Singapore's electricity market and its operating mechanism at the present stage. Then, the design of the parameters and mechanism of the vesting contract are discussed, with emphasis on the determination method of the vesting contract level, the classification of the vesting contract and the decomposition method of its volume. Besides, a case is given to present the philosophy for determining the vesting contract level and the implementation effect of the vesting contract. Finally, based on the current situation of CfD authorized by the Chinese government, some inspirations and ideas are put forward to design the Chinese CfD in the near future. ? 2021 Authors.

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