A Coupled Electricity-Carbon-Green Certificate Market Clearing and Benefit Evaluation Model Considering Product Conversion between Carbon and Green Certificate Market

With the intention of reducing carbon emissions and promoting the utilization of new energy power, the carbon and green certificate markets have been proposed as effective policy tools. Generation companies can participate in different market transactions, leading to a coupling effect with the electricity market. Meanwhile, due to the repetitive positioning of products traded in the carbon and green certificate markets, how to design the mutual recognition of products in the market organization process has become an ineluctable problem. Therefore, this paper proposes an electricity-carbon-green certificate market coupling clearing model that considers the conversion of products traded in the carbon and green certificate markets. Besides, a benefit evaluation index system is proposed to access the environmental and economic benefits of the coupling market. Ultimately, the model is validated using a modified IEEE 30-bus system.