Can Social Capital Get A Slice Of The Monopoly Industry?

< p > recently, < < a href= > http://www.91se91.com/news/index_p.asp > > Hebei < /a > Hebei provincial electric power Ordinance passed by the Standing Committee of the provincial people's Congress, "encourage social capital to invest in electric power construction and develop clean energy". In the previous deliberations, members of the Standing Committee of the Hebei Provincial People's Congress put forward that at present, the government's investment in the field of power construction in the province is still dominated by the government, and the degree of marketization is relatively low. It is suggested to increase the content of encouraging private capital to invest in electric power construction in order to attract social funds to participate in investment, construction and operation of power projects. < /p >
The huge profits of energy monopoly industries such as P have always been "jealous" of social capital, especially the reform signals of social capital entering into the fields of finance, energy, railways and so on, which makes many social capital "surging with emotion". For example, in May 2010, the State Council's opinions on encouraging and guiding the healthy development of private investment (new "non-public 36") widened the access field of social capital, and even made clear that social capital could enter the fields of basic industries, including power, railways, oil and natural gas, and infrastructure. At the same time, it also refined the access threshold and how to create a fair competition market environment. This time, Hebei's legislation encourages social capital to invest in electric power construction and development of clean energy. It is generally regarded as the most powerful guarantee for social capital to enter the monopoly areas such as electricity. Some experts even believe that a new development opportunity is placed before the social capital. < /p >
< p > notwithstanding, social capital still faces many "glass doors". Only by breaking barriers can social capital really make a difference. < /p >
< p > social capital is most concerned about whether a href= "http://www.91se91.com/news/index_cj.asp" > making money < /a >. From the view of the overall framework of the mixed ownership reform of the State Grid (or "roadmap"), the UHV transmission line and pumped storage power station "Qian Jing" are not in the "open list". The core business of power purchase, transmission and distribution, and electricity sales is still in the hands of the State Grid. How much can local legislation in Hebei province give to social capital? We need to continue to observe it. < /p >
< p > in fact, social capital has entered the electricity field in a low-key way many years ago. Social capital is always in a weak position in the game with monopoly power enterprises. Some "tragedies" deserve our attention. < /p >
< p > one is the Sino Russian power cooperation project approved by the eight ministries and commissions of the State - Heihe Electric Power Industrial Park. The ice breaking tour of the power reform not only attracted a large number of well-known enterprises, but also found a breakthrough and a foothold for social capital entering the electricity market, and even labelled the "Heihe model" label. However, the project with a total investment of more than 4 billion yuan was forced acquisition by state-owned power enterprises, and eventually many enterprises were in a state of loss or stop production. < /p >
< p > two is the dispute between "Shandong electric power group" and "Guodian". Shandong Wei Qiao venture group as a private enterprise, the price of electricity in the surrounding area is 1/3 lower than that of the State Grid, but it has been shut down due to "illegal, unsafe and environmentally friendly" power plants. < /p >
< p > now, whether social capital can leverage the barriers formed by power monopoly is also not optimistic. Although it was explicitly pointed out in the third Plenary Session of the 18th CPC Central Committee, "the natural monopoly industries that state capital continues to operate and operate, implement reforms based on separating government functions from enterprises, separating government assets, franchising, and government regulation, and carrying out separate operation and opening up competitive industries according to the characteristics of different industries, and promoting the marketization of public resources allocation. We should further break away from all forms of administrative monopoly. However, the strong position of monopolistic central enterprises such as power will not be weakened immediately because of national policy directives or local legislation. At the same time, social capital is only a drop in the bucket compared with the scale of thousands of billion or even billions of trillions of electricity in a year. Even if a joint venture is formed, it is very difficult to have decision-making power. Moreover, under the guidance of the government, social capital investment or equity participation in infrastructure construction also lacks the right to speak in the governance of the company, so it is easy to be kicked out. < /p >
< p > a href= "http://www.91se91.com" > social capital < /a > whether it can stand firmly in the monopolistic field of electricity and so on, though it depends on its own strength, the key and decisive role lies in whether the reform policies and industrial policies at the national and local levels have been implemented. The key point is to develop the mixed ownership economy, and the core is the diversification of property rights. Monopoly enterprises such as electricity need to accelerate the pace of marketization, eliminate discriminatory "threshold", and establish a mechanism to protect investors' interests and discourse power, so as to protect investors' legitimate rights and interests and reasonable profits. < /p >