文章基本信息

标题：Applying the CAPM Model in Identifying the Electricity Retail Price in Ho Chi Minh City, Vietnam
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作者：Nguyen Minh Ha ; Nguyen Duy Hoang
期刊名称：International Journal of Energy Economics and Policy
电子版ISSN：2146-4553
出版年度：2017
卷号：7
期号：2
页码：185-192
语种：English
出版社：EconJournals
摘要：This paper applies the Capital Asset Pricing Model (CAPM) model to calculate the expected return rate equivalent to electricity retail price in Ho Chi Minh City, with observed 1,464 hours of Ho Chi Minh city Power Corporation. The study suggests the model of calculate the electricity retail price so that government has more tools to adjust the electricity prices in electricity market, and recommends an electricity retail price list of 12 levels, with the minimum sale price of 965VND/kWh and maximum sale price of 1,675VND/kWh. Specifically, with current electricity sale price of 1,447VND/kWh, the Ho Chi Minh city Power Corporation reaches the highest return rate of 11.7% and the return rate fluctuates from -12% to 11.7% (price of 1,447VND/kWh with r f =6%). The sensitive analysis shows that from r f =12% above, the return rate always reaches the maximum point at price of 1,313VND/kWh (It is an average cost to produce 1kWh). Keywords: CAPM; Electricity retail price; Electricity market. JEL Classifications: Q4
其他摘要：This paper applies the Capital Asset Pricing Model (CAPM) model to calculate the expected return rate equivalent to electricity retail price in Ho Chi Minh City, with observed 1,464 hours of Ho Chi Minh city Power Corporation. The study suggests the model of calculate the electricity retail price so that government has more tools to adjust the electricity prices in electricity market, and recommends an electricity retail price list of 12 levels, with the minimum sale price of 965VND/kWh and maximum sale price of 1,675VND/kWh. Specifically, with current electricity sale price of 1,447VND/kWh, the Ho Chi Minh city Power Corporation reaches the highest return rate of 11.7% and the return rate fluctuates from -12% to 11.7% (price of 1,447VND/kWh with r f =6%). The sensitive analysis shows that from r f =12% above, the return rate always reaches the maximum point at price of 1,313VND/kWh (It is an average cost to produce 1kWh). Keywords: CAPM; Electricity retail price; Electricity market. JEL Classifications: Q4