公用事业类上市公司政府补助的法律规制——以竞争中立为视角

The Legal Regulations of Government Subsidies on Public Utilities Listed Companies——From the Perspective of Competition Neutrality

公用事业行业由于高成本和公益性,政府提供补助加以扶持。但随着公用事业类公司寻求上市,公司融资渠道多元化,规模效益强化,原本具有纯公益性的公用事业参与市场竞争的程度越来越高,政府按照原有理念和方式提供补助会使得特定公用事业类上市公司获得不公平竞争优势,限制和扭曲市场竞争。因此需要重新界定公用事业类上市公司政府补助的定位和作用,重新规范公用事业类上市公司政府补助的内容,防止限制和扭曲市场公平竞争,同时保证社会福利最大化。

The public utility industry is subsidized by the government due to its high cost and public welfare nature. But the utility companies are seeking to be in the public market, they have diversified financing channels and scale reinforcement, they are no longer the pure public utilities, their market competition degree is higher. Subsidies provided by the government in accordance with the original concept and method will make an unfair competitive advantages to specific public utilities listed companies, and will distort market competition. Therefore, it is necessary to redefine the position and the role of government subsidies on public utility listed companies, re-regulate the content of government subsidies for public utility listed companies, prevent restricting and distorting fair competition on the market, and at the same time ensure the maximization of social welfare.