Based on the characteristics of Hubei Province Power Grid， this paper presents a new power market model considering energy consumption and corresponding emissions saving. The mechanism for realizing energy consumption and corresponding emissions saving is analyzed. Energy consumption constraint is introduced to the yearly market with compatible incentive principle. Monthly market is developed on the basis of variable cost competition. Generation-right market and temporary export market are also developed. More efficient generator will have the priority to trade， and can get extra bonus， which reasonably motives them to reduce energy consumption. In the end， the rational and economic meanings are analyzed and proven.