Analysis of the linkage of carbon-electricity market mechanism under China's

doi:10.3969/j.issn.2097-0706.2025.05.001

Abstract

Abstract:

Under the "dual carbon" target， the mechanisms and operating conditions of low-carbon and electricity markets are undergoing frequent and rapid changes， complicating the analysis of market value coupling and transmission. Starting from the development trajectories of the carbon emissions trading market， green certificate market， and green power market， key components of the low-carbon market， and combining these with the recent operational status of the low-carbon market， this study investigates the relationship and value transmission mechanisms between the carbon-electricity markets from both static and dynamic perspectives. By examining the underlying value transmission logic between these markets， this paper explores pathways for their coordinated development， identifies existing issues in market integration， and proposes corresponding improvements. The findings offer effective analytical approaches and insights for promoting synergy and value transmission between China's carbon-electricity markets.

Key words: "dual carbon" target, low-carbon market, electricity market, carbon emissions trading market, green certificate market, green power market, carbon emission allowances

CLC Number:

TK01

JI Bin, LI Yonggang, CHANG Li, QIAN Juan, TU Shanshan. Analysis of the linkage of carbon-electricity market mechanism under China's "carbon control" trend[J]. Integrated Intelligent Energy, 2025, 47(5): 1-11.

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交易形式	交易标的物	交易方式	交易价格	交易范围	交易特点
绿电交易	电能量+环保权益	挂牌、双边协商、集中竞价等	电能量价值+环境价值	省间、省内	电证合一
绿证交易	环保权益	挂牌、双边协商、集中竞价等	环境价值	无范围限制	证电分离
碳交易	碳排放配额+CCER	挂牌、协议转让、集中竞价	碳排放配额价值+CCER价格	无范围限制	总量限定