Analysis of the Status Quo and Coupling Mechanisms of the Ancillary Services Market with Carbon Market, Green Certificate Market and Green Electricity Market Under the Green Energy Transformation

Against the backdrop of the “dual carbon” goal and the green of energy transformation, the volatility and randomness issues of the new power system dominated by wind and solar power are becoming increasingly prominent, affecting the safe and stable operation of the power system. Therefore, the role of auxiliary services in promoting the use of alternative energy sources and ensuring power quality is becoming increasingly. In this context, this article summarizes and organizes the current development and operations status of the auxiliary services market, carbon market, green certificate market, and green electricity market in mature foreign markets, as well as the experience that can be used for reference. It also sorts out the relationship between the interaction and influence of the auxiliary services market and various other markets. Finally, based on the practical needs for market development to facilitate China’s green energy transformation, development recommendations are provided for the design of the auxiliary services market and various market coupling mechanisms, to fully leverage the synergistic effect of the auxiliary services market with the carbon market, green certificate market, and green electricity market, support China's green energy transformation.