Review and Prospects of Coupled Transactions in Multi-carrier Energy Systems

Transitioning and developing toward the low- carbonization of energy systems is a common global solution to address climate, environmental, and energy issues. The coordinated operation and integrated optimization of multicarrier energy systems have drawn widespread attention in the context of the recent deregulation of energy industries. The coordinated operation of multi-carrier energy systems and the coupled transactions of multi-carrier energy markets could develop and utilize the complementarity and substitutability of different forms of energy, realize flexible energy production, consumption, storage, and transmission, optimize resource allocation within a broader range for renewable energy integration, and promote the low carbonization of energy systems. Based on the current development scenarios of energy markets, this study analyzes the necessities of coupled transactions in multi-carrier energy systems; then summarizes the state-of-the-art research on interactive effects, coordinated operation and joint clearing, and trading strategies and equilibrium analysis in multi-carrier energy markets; and finally proposes key issues for further studies.