With　the　goal　of　＇carbon　peaking　and　carbon　neutrality＇,　the　process　of　carbon　reduction　in　the　power　industry　has　been　accelerated.　The　carbon　emissions　trading,　the　green　certificate　trading　and　the　excessive　renewable　electricity　consumption　trading　have　become　important　market　instruments　to　reduce　carbon　emissions　and　promote　the　development　of　new　power　systems.　First　of　all,　based　on　the　bilateral　centralized　bidding,　this　paper　establishes　a　power　energy　market　trading　mechanism　considering　the　coupling　of　the　carbon-green　certificate–renewable　electricity　consumption　market　with　the　participation　of　thermal　power,　wind　power,　photovoltaic　enterprises　and　power　users.　Secondly,　a　hierarchical　iterative　interactive　transaction　optimization　model　is　constructed　by　taking　into　account　the　optimal　goals　of　the　market　members＇　benefits　and　the　social　welfare　of　the　electricity　markets.　Finally,　the　alternating　direction　multiplier　method　is　used　for　iterative　solution　and　the　impact　of　the　carbon　quota　benchmark,　the　green　certificate　ratio　and　the　renewable　electricity　consumption　trading　prices　on　the　electricity　market　clearing　results　and　the　proceeds　from　generators　and　users’　costs　are　analyzed　on　the　IEEE-30　node　system.　The　results　show　that　the　power　energy　market　trading　mechanism　considering　the　coupling　of　carbon-green　certificate–renewable　electricity　consumption　market　is　able　to　significantly　reduce　the　carbon　emissions　of　the　thermal　power　companies　compared　with　the　single　energy　market　trading　mechanisms.　Meanwhile,　the　mechanism　can　improve　the　wind　power　and　photovoltaic　enterprises　to　win　the　power　bids,　incentivize　users　to　track　the　new　energy　output　of　the　system　and　mitigate　systematic　wind　and　light　abandonment.　©　2024　Power　System　Technology　Press.　All　rights　reserved.