Optimal load interactive strategy based on price elasticity of demand in smart grids

As an important content of demand side management m smart grid, load management makes an effect on users' consumption behaviors such as energy consumption patterns. The price elasticity plays a very important role m the prediction of electricity demand. The price elasticity coefficient is denoted and analyzed for both single period and inter-temporal situations. Based on the coefficients, a Time of Use (TOU) electricity charging strategy is proposed. Then, an optimal model for load management is established. At last, some simulations are carried out to demonstrate the proposed results.