Electric energy substitution has practical significance in implementing energy saving and environmental protection policy and realizing strategic energy transition. In order to properly and reasonably allocate the benefit of electric energy substitution to power customers and encourage them to participate in electric energy substitution

an allocation method for sharing the benefits of electric energy substitution is proposed based on the cooperative game theory. The value of electric energy substitution in reducing operation cost and emission is analyzed and quantified.Nucleolus and Shapley value methods are adopted to allocate the benefit of electric energy substitution based on the cooperative game theory. Case verifies the effectiveness and rationality of the proposed method.