航电枢纽工程财务增效机制研究

Financial efficiency mechanism for navigation-hydropower projects

航电枢纽工程大多面临投资大、运行费用高、发电产出少、财务效益差等问题。为促进其可持续发展,真正实现以电养航,在对航电工程财务因子敏感性分析的基础上,依托嘉陵江流域典型枢纽,深入研究其财务增效机制。研究表明,争取电价补贴和调整资本金结构并举是改善航电枢纽运营环境,增强企业经营活力的有效、可行措施。

The navigation-hydropower projects face many problems such as large investment,high operation cost,low output and poor financial benefit.To promote their sustainable development and to achieve the smooth navigation via the electricity,the financial efficiency mechanism was thoroughly studied based on the sensitivity analysis of the financial factor of the navigation-hydropower projects through a typical case study in Jialing River basin.The results indicate that both the electricity price subsidy and the adjustment of capital structure are the effective and feasible measures to improve the operating environment and to strengthen the operating vitality of navigation-power projects.