Load elasticity analysis in the deregulated electricity market

In the electricity market, load elasticity analysis has been regarded as an effective tool for quantitative analysis of the load risk analysis, which may lead the researchers a profound understanding on load volatility and help market participants make decisions. But due to the complicated load volatility under the competitive surroundings, few studies have been devoted to this. So in order to solve above problem, a novel model for load elasticity demand is proposed based on statistical learning theory. In this work, load multi-class pattern is performed by least squares support vector machines (LS-SVM). After that, by training the following regression models using the samples labeled with their patterns, the mathematical equations of load elasticity analysis is derived, based on which the elasticity coefficients are found. Finally, numerical experiments are used to test the model.