Equilibrium Analysis of Electricity-Carbon Coupling Markets Considering Competitors' Market Behavior

With the application of the carbon-emission cap-and-trade mechanism, electricity producers couple the electricity market and the carbon market, forming electricity-carbon coupling markets. To analyze the market equilibrium under an oligopolistic environment while accounting for market competition, this paper first introduces the conjectural variation coefficient to quantify competitors' market behavior, and then establishes an equilibrium model for electricity-carbon coupling markets considering competitors' market behavior accordingly. Finally, numerical results from three cases in the IEEE 9-bus system not only verify the effectiveness of the proposed equilibrium model and its solution methodology, but also present the impact of competition modes on market equilibrium.