In the face of dynamic and uncertain effects of theexternal economic environment, in order to correctly grasp the pro.vincial electricity market trends and laws, it is necessary to take allaspects of the external environment factors into consideration.Theseasonal adjustment and standardization are applied in the originaldata, so that the data can reflect its more real laws, then the econom.ic indicators are classified and the dimension is reduced.Finally,based on the improved Cobb.Douglas production function, the im.pact of various economic indicators on electricity consumption couldbe quantified.By tracking the impact on the external environment,accumulating data, timely identifying external policies and incidentsaffecting the electricity market, the result has important referencevalue for electricity market observers to accurately grasp the devel.opment trend of electricity market.