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A Study on the Price Transmission Mechanism of Environmental Benefits for Green Electricity in the Carbon Market and Green Certificate Markets: A Case Study of the East China Power Grid

Author

Listed:
  • Xinhong Wu

    (State Grid Zhejiang Integrated Energy Service Company, Hangzhou 311500, China)

  • Hao Huang

    (State Grid Zhejiang Integrated Energy Service Company, Hangzhou 311500, China
    Zhejiang Chengxin Talent Resources Exchange Service Co., Ltd., Hangzhou 310022, China)

  • Bin Guo

    (College of Energy and Mechanical Engineering, Shanghai University of Electric Power, Shanghai 201306, China)

  • Lifei Song

    (College of Energy and Mechanical Engineering, Shanghai University of Electric Power, Shanghai 201306, China)

  • Yongwen Yang

    (College of Energy and Mechanical Engineering, Shanghai University of Electric Power, Shanghai 201306, China)

  • Qifen Li

    (College of Energy and Mechanical Engineering, Shanghai University of Electric Power, Shanghai 201306, China)

  • Fanyue Qian

    (College of Energy and Mechanical Engineering, Shanghai University of Electric Power, Shanghai 201306, China)

Abstract

As the global energy transition progresses, green electricity, which is crucial for low-carbon systems, has gained attention. However, the lack of effective market linkages hinders a full understanding of the price transmission effects across green markets. This study uses the Vector Autoregression (VAR) model and Granger causality tests to analyze the price transmission and lag effects between the carbon, green certificate, and China Certified Emission Reduction (CCER) Markets. The findings reveal complex price linkages, offering theoretical insights and policy recommendations for optimizing green electricity markets and environmental rights trading.

Suggested Citation

  • Xinhong Wu & Hao Huang & Bin Guo & Lifei Song & Yongwen Yang & Qifen Li & Fanyue Qian, 2025. "A Study on the Price Transmission Mechanism of Environmental Benefits for Green Electricity in the Carbon Market and Green Certificate Markets: A Case Study of the East China Power Grid," Energies, MDPI, vol. 18(9), pages 1-19, April.
    • Handle: RePEc:gam:jeners:v:18:y:2025:i:9:p:2235-:d:1644427
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