Climate change is today's common challenge faced by all humanity. For 27 years, in accordance with the principles of equity and common but differentiated responsibilities and respective capabilities, the Parties to the United Nations Framework Convention on Climate Change have been working to enhance cooperation and achieved positive progress in the implementation of the Convention. The Kyoto Protocol, extending the Convention, seeks to reduce global greenhouse gas emissions, established three flexible mechanisms for international cooperation, International Emissions Trading (IET), Clean Development Mechanism (CDM) and Joint Implementation in 1997, which is the beginning of carbon emissions trading market. Over the past few years, key emissions trading systems (ETSs) worldwide have considered and undergone sweeping policy reforms to get their systems ready for the post-2020 era.
As the main contributor to CO2 emissions, the power sector is extremely important in the global decarbonisation effort. While electricity’s share in total final energy consumption is less than 20%, almost 40% of CO2 emissions are attributable to the electricity sector. In 2005, The Regional Greenhouse Gas Initiative (RGGI) was established as the first mandatory cap-and-trade program in the United States to limit carbon dioxide (CO2) from the power sector. And China followed to launch its national emissions trading system (ETS) only focusing on the power generation industry in 2017. In the"13th Five-Year" period, China has implemented tradable green certificates (TGC) and carbon emissions trading (CET) in the electricity market to accelerate the development of renewable energy. With the responsibility of ETS transferred to the new Ministry of Ecology and Environment in 2018, China continues to develop the market infrastructure for its national ETS.
As the power sector is undergoing a complex and long-term transformation, to fulfill the goals of sustainable development and emission reduction are the key drivers impacting the industry. They provide unprecedented challenges but also important opportunities for the energy sector, calling for a rethinking of the way energy system is planned and operated globally. The future market design should be based not on the perspectives of the traditional electricity sector, but rather on an integrated decarbonised energy system in which electricity becomes a cornerstone in the sustainable energy transition.
This Special Issue will focus on how the low-carbon energy system will be planned and operated, aiming to explore the influencing mechanisms and coupling effects of the carbon trading market on the power market. New methods of modelling, which can fulfil technical and physical boundary conditions and nevertheless consider economic environmental and social aspects, could be developed. Overall, the findings withdrawn in this special issue should contribute to a consolidated understanding of how the low-carbon energy system addresses environmental sustainability with a healthy power market.
The scope of the special issue will mainly focus on the above-highlighted issues and we seek original papers on the following, but not limited to, topics:
Power supply structure optimization with carbon emissions reduction.How carbon emissions trading could promote a change in energy technology.Impacts of carbon market on electricity investments and profits.Diversification for market participants and transaction products (such as futures, options, etc.) in power and carbon markets.Qualitative and quantitative assessment of the interaction of the power market and carbon trading market. Coupling effects of carbon trading market on the electricity market through market mechanisms.Design of the carbon trading market considering the healthy development of the electric power industry.The operation mechanism of the carbon trading market in the electricity market. International experience of low-carbon energy systems and transformation.Numerical analysis models, equilibrium models and optimization models on interactions of power and carbon markets.Risks management in power and carbon markets.Big data and visualization for low-carbon energy management systems.The coordination mechanism between power and carbon markets according to the actual situations.
This special issue solicits any original work that is not under consideration for publication in other journals and magazines. Authors should refer to https://www.pcmp.springeropen.com or https://www.pcmp.info for information about content and formatting of submissions.
Paper Submission Deadline: Feb 28, 2020
Prof. Junhua Zhao, The Chinese University of Hong Kong, China
For more information, please do not hesitate to contact Prof. Junhua Zhao
Prof. Jing Qiu, The University of Sydney , Australia
Prof. Hongming Yang, Changsha University of Science and Technology , China
Prof. Guibin Wang, Shenzhen University , China
Editor-in-Chief of Protection and Control of Modern Power Systems: Prof. Shijie Cheng