On Locational Marginal Emissions in Electricity Markets: A Two-Layered Dispatch Mechanism and Its Fundamental Theorems
電力市場における限界排出量：二層ディスパッチメカニズムとその基本定理 (AI 翻訳)
Luc Cot'e, Andy Sun
🤖 gxceed AI 要約
日本語
本論文は、リアルタイム電力市場において炭素会計を系統運用に組み込む二層ディスパッチメカニズムを提案。第一層で経済効率を維持し、第二層でコスト最適解の中で排出量を最小化する。限界排出量（LME）を定義し、厚生経済学の基本定理に類似した性質を証明。テキサス系統モデルでの検証も実施。
English
This paper proposes a market design for real-time electricity markets that integrates carbon accounting into grid operations via a two-layered dispatch mechanism. It defines locational marginal emissions (LMEs) and establishes analogs to the first and second fundamental welfare theorems. A Carbon Footprint Theorem shows that LMEs ensure the sum of carbon accounts equals total physical emissions. Empirical validation is conducted on a realistic Texas grid model.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本は電力市場改革とカーボンプライシング導入を進めており、本論文の二層ディスパッチメカニズムは、経済効率を維持しつつ排出量を削減する市場設計の理論的基盤を提供する。日本の卸電力市場や容量市場への応用が期待される。
In the global GX context
Globally, this paper provides a rigorous theoretical foundation for carbon accounting in electricity markets, which is crucial for decarbonization efforts. The LME framework can inform the design of carbon pricing and market mechanisms in jurisdictions like the EU, US, and others, by linking locational pricing with emissions accounting.
👥 読者別の含意
🔬研究者:Provides novel theoretical contributions in electricity market design and carbon accounting, including proofs of welfare properties and a carbon footprint theorem.
🏢実務担当者:Offers a method for real-time carbon accounting in grid operations, which can be used for emissions tracking and optimization in power systems.
🏛政策担当者:Informs the design of low-carbon electricity markets by showing how to integrate emissions objectives into dispatch while maintaining economic efficiency.
📄 Abstract（原文）
We propose a market design for real-time electricity markets that utilizes a two-layered dispatch mechanism to systematically incorporate carbon accounting into grid operations. In this mechanism, ``dispatch'', the centralized allocation of generation resources to meet system load, is executed via a hierarchical structure where the first layer minimizes financial costs to maintain economic efficiency, while the second layer minimizes system emissions strictly within the set of cost-optimal solutions. We define locational marginal emissions (LMEs) as the marginal rate of system emissions derived from the dual variables of the two-layered formulation. Unlike standard marginal prices which correspond to right-hand-side constraint relaxations, LMEs must account for the requirement of economic optimality which introduces demand parameters into the problem's constraint structure. Under the framework, we establish that LMEs satisfy properties analogous to the first and second fundamental theorems of welfare economics. We prove that (1) decentralized ``carbon profit''maximization by individual grid entities guarantees a system-wide emission profile consistent with the economic dispatch, and (2) any optimal low-carbon economic dispatch is supported by a corresponding set of LME signals acting as a decentralized equilibrium. Furthermore, we establish a general carbon accounting theorem, called the Carbon Footprint Theorem, showing that these market-consistent LMEs ensure the sum of carbon accounts across all grid components (loads, generators, transmission, and storage) equals the total physical carbon emissions. This completes the theoretical foundation of the LME. Finally, we investigate and validate the empirical properties of LMEs and LME-based carbon accounting through case studies on a realistic Texas grid model.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://www.semanticscholar.org/paper/7c608d4acecd50255bbe29ec0c32aa7570c9194dfirst seen 2026-06-23 06:04:56
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