Strategic bidding model for multi-energy industrial parks considering spatio-temporal carbon emission factors in carbon and electricity markets

Xiaocong Sun, Yi Ding, Minglei Bao, Xinyu Ouyang, Yonghua Song, Chenghang Zheng and Xiang Gao

Renewable and Sustainable Energy Reviews, 2025, vol. 219, issue C

Abstract: Promoting the low-carbon transition of multi-energy industrial parks (MIPs) through the carbon markets (CMs) and electricity markets (EMs) requires accurate accounting of carbon emissions, particularly carbon emission factors (CFs) for electricity consumption. However, existing studies mainly focus on the grid average CFs and usually ignore the spatio-temporal characteristics and mechanism integration in the carbon and electricity market. To address this, a bi-level bidding framework for MIPs in CMs and EMs considering the spatio-temporal updating and publishing of CFs is proposed. At the upper level, the strategic bidding decision for the MIP is proposed based on energy purchase and carbon emissions. At lower levels, a spatio-temporal CF updating and publishing mechanism is innovatively integrated with the market clearing. Then, the analytically linearized relationship between generation emissions and nodal CFs is modeled based on the proposed emission transfer distribution factor (ETDF). Furthermore, this problem is transformed into a mathematical problem with equilibrium constraints (MPEC) and solved by the proposed solution procedure. Finally, case studies demonstrate that compared to the existing model using grid average CFs and only temporally varied CFs, the consideration of spatio-temporal CF will promote the carbon reduction of MIPs and improve social welfare. This can help policymakers guide users to adjust energy usage and reduce carbon emissions.

Keywords: Multi-energy industrial park; Carbon emission factor; Bidding strategy; Energy hub; Carbon market; Electricity market; Power systems (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S136403212500437X
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:rensus:v:219:y:2025:i:c:s136403212500437x

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/600126/bibliographic
http://www.elsevier. ... 600126/bibliographic

DOI: 10.1016/j.rser.2025.115764

Access Statistics for this article

Renewable and Sustainable Energy Reviews is currently edited by L. Kazmerski

More articles in Renewable and Sustainable Energy Reviews from Elsevier
Bibliographic data for series maintained by Catherine Liu ().