Research on Synergistic Mechanism of Electricity Market and Carbon Market in The Context of Carbon Peaking and Carbon Neutrality Goals

In the context of global climate change, China has proposed Carbon Peaking and Carbon Neutrality Goals in 2020. As the major source of carbon emissions, the electricity sector’s low-carbon transformation is of great importance. This paper first discusses the independence of electricity market and carbon market and their potential for synergy, then the synergistic mechanism of them is introduced. Through the case analysis of A province, the paper reveals the existing problems in the current electricity market and carbon market. Finally, this paper also put forward four plans for the future development.