Hybrid Game-Based Optimal Operation of Multi-Energy Prosumers Under Coupled Carbon and Green Certificate Markets

With the ongoing low-carbon transition of energy systems and the increasing penetration of distributed energy resources, the coordinated operation of heterogeneous prosumers has become essential for improving the economic and environmental performance of integrated energy systems. However, existing studies have not sufficiently addressed the joint coordination of electricity sharing, carbon emission trading, green certificate trading, and demand-side flexibility. To address this gap, this paper proposes a hybrid game-based optimal operation model for a multi-energy prosumer alliance coordinated by an Electricity Balance Service Provider (EBSP). The model is developed under coupled carbon emission trading (CET) and green certificate trading (GCT) markets. A piecewise linear dynamic pricing mechanism and a mutual recognition rule are introduced to describe the interaction between CET and GCT. Meanwhile, a price-based demand response model considering reducible and shiftable loads is incorporated to exploit load-side flexibility. On this basis, a Stackelberg-cooperative hybrid game is formulated to coordinate electricity pricing, integrated dispatch, electricity sharing, and benefit allocation between the EBSP and the prosumer alliance. The proposed model is solved using particle swarm optimization and the alternating direction method of multipliers. Case studies show that, compared with the corresponding benchmark scenarios, the proposed method reduces the alliance operating cost by 7.19%, the carbon trading cost by 41.35%, and total carbon emissions by 3.66%. It also decreases the peak-to-valley load difference ratio by 3.78 percentage points. These results demonstrate the effectiveness of the proposed method in improving economic performance, promoting low-carbon operation, and enhancing the peak-shaving and valley-filling capability of the prosumer alliance.