A data mining‐based interruptible load contract model for the modern power system

Abstract To devise more scientifically rational interruptible load contracts, this paper introduces a novel model for interruptible load contracts within modern electric power systems, grounded in data mining techniques. Initially, user characteristics are clustered using data mining technology to determine the optimal number of clusters. Building on this, the potential for different users to participate in interruptible load programs is analysed based on daily load ratios, yielding various user‐type parameters. Furthermore, the paper develops an interruptible load contract model that incorporates load response capabilities, enhancing the traditional interruptible load contract model based on principal‐agent theory through considerations of user type parameters and maximum interruptible load limits. The objective function, aimed at maximizing the profits of the electric company, is solved, and lastly, through the use of real data, a case study analysis focusing on commercial users with the strongest load response capabilities is conducted. The results affirm the efficacy of the proposed model.