我国电力企业融资方式的探讨

吉林农业大学学士学位论文题目名称：我国电力企业融资方式的探讨学生姓名：李渊院系：经济管理学院专业班级：财务管理一班指导教师：李梅职称：副教授2013年5月20日目录题目···········································································································································Ⅰ摘要及关键词···························································································································Ⅰ一电力企业目前所面临的处境·······························································································1（一）电力体制改革·················································································································1（二）经济高速发展，电力需求急剧增长·············································································1（三）行业资产负债率居高不下·····························································································1（四）环保要求·························································································································1二电力企业融资时应考虑的因素·························································································2（一）融资成本及融资收益·····································································································2（二）融资风险·························································································································2（三）融资规模·························································································································2（四）对企业控制权的影响·····································································································3（五）国家政策·························································································································3三我国电力企业融资方式分析·······························································································3（一）内源融资·························································································································3（二）政策性融资·····················································································································3（三）银行贷款·························································································································4（四）股票融资·························································································································4（五）债券融资·························································································································4（六）电力产业投资基金·········································································································4（七）项目融资·························································································································4（八）可转换债券融资·············································································································5四我国电力企业融资方式的选择···························································································5（一）电力行业的融资特点·····································································································5（二）电力企业融资方式策略分析·························································································6参考文献·····································································································································8致谢·············································································································································9我国电力企业融资方式的探讨姓名：李渊专业：财务管理专业指导教师：李梅摘要：随着国民经济的发展，电力需求随之大幅度增加，电力企业的资金需求也越来越大。本文对电力企业目前的处境进行综述，根据电力企业融资时所考虑的主要因素对各种融资方式进行优劣分析，最后结合电力行业的融资特点、电力企业的自身实际情况以及融资环境对电力企业融资方式的选择进行了阐述。关键词：电力企业；融资方式；选择ThediscussionofourcountryelectricpowerenterprisefinancingwayName：LiYuanMajor：ThefinancialmanagementTutor：LiMeiAbstract:Withthedevelopmentofnationaleconomy,powerdemandincreasesharply,theelectricpowerenterprisecapitalrequirementsalsobecomebiggerandbigger.Inthispaper,theelectricpowerenterprise’scurrentsituationweresummarized,accordingtothemainfactorstobeconsideredanelectricpowerenterprisefinancinganalysisadvantagesanddisadvantagesofvariousfinancingway.Finally,combiningwiththecharacteristicsoffinancingofelectricpowerindustry,electricpowerenterprise’sownactualsituationandfinancingconditionsanalysistheelectricpowerenterprisefinancingwaychoice.Keywords:Theelectricpowerenterprise;Financingway;ChoiceⅠ1企业融资是指企业做为融资主体根据其生产经营、对外投资和调整资本结构等需要，通过融资渠道和金融市场，运用融资方式，经济有效地筹措和集中资本的活动。资本是一个企业生存和发展的基础，而融资则是满足企业资本需求的首要手段。随着国家电力体制改革的全面深入，电力企业已经成为独立的市场竞争主体，承担着市场中遇到的财务风险。融资活动是电力企业生产经营的起点，融资方式选择的优劣直接关系到企业融资成本的高低及融资风险的大小，并最终影响一个企业的兴衰成败。而在现代社会中，企业可选择的融资方式越来越多，融资环境也变得更加复杂，如何根据企业自身实际情况并根据周边的融资环境作出正确的筹资决策就成为企业财务管理活动的一大难点。一电力企业目前所面临的处境（一)电力体制改革2002年4月，国务院下发《电力体制改革方案》，成为电力体制改革开端的标志。改革实施厂网分开，竞价上网，重组发电和电网企业，从纵横双向彻底拆分国家电力公司。初步建立竞争、开放的区域电力市场。原国家电力公司按“厂网分开”原则组建了五大发电集团、两大电网公司和四大电力辅业集团。随着“厂网分开”的实施，电力企业大体可分为电网企业（以经营电网为主营业务）和发电企业（以生产电能为主营业务）两大类。分开的实质是对不同的业务领域进行区别对待实行不同的管制政策，并引入不同程度的竞争。（二）经济高速发展，电力需求急剧增长经济发展，电力先行，电力行业的发展是国民经济发展的重要保障，经济的高速发展会促使电力需求的增长，进而带动电力行业基础设施建设融资规模扩张。十一五期间，新增装机容量约2.5亿千瓦，年均增长速度达到12.9%，总投资近一万亿元。十二五期间预计每年新增装机容量3050万千瓦，按照国家电监2009年公布的火电工程平均造价4130元/千瓦，仅发电方面