Abstract
This article proposes a novel quantitative measure of the load profile that can be used to compare demand response techniques for load shaping. This quantitative measure is a projection of the overall cost for electric power generation planning, and can be used to more effectively guide the determination of dynamic electric energy retail pricing tariffs, which can, in turn, improve the performance of demand response techniques from the overall generation expansion planning and utilization cost perspective. Traditionally, the peak-to-average ratio has been the popular choice to quantitatively measure the load profile, although it does not incorporate critical measures such as minimum power demand and load variation. In this paper, several load profiles are synthesized and their corresponding electricity supply cost is calculated. Then, the correlation coefficient between different statistical measures of the load profiles and the cost of their optimal generation expansion planning and utilization is measured. Several statistical factors of the load profile with a linear relationship with the overall cost are selected and their contribution level to the final measure is determined to form a quantitative load profile measure that accurately reflects the overall supply cost.
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