Abstract: Current demand response capabilities are limited to electrical loads, with intermediate variables existing in carbon emission characterization and poor consistency in calculation results. This leads to the incomplete exploitation of the carbon reduction potential on the user side. To address this issue, this paper proposes a low-carbon economic dispatch strategy for multi-region interconnected power systems that accounts for the load low-carbon response capability. First, a user-side low-carbon energy-use incentive signal is established to quantify the user-side low-carbon regulation effect. Second, a bi-level optimization model incorporating load low-carbon response capability is constructed for multi-region interconnected systems. The upper-level model is a cooperative game model based on the Nash bargaining theory, aiming to achieve the overall balance of wind and solar energy accommodation while ensuring the independent revenue of each regional entity. The lower-level model is a user-side low-carbon demand response model guided by coupling carbon emission factors, which is designed to enhance the low-carbon interaction between internal sources and loads in each region. Finally, a carbon-energy contribution factor is introduced to realize the fair distribution of benefits among different entities, thus ensuring the fairness and rationality of the proposed model under the market environment. Case study results show that, compared with the traditional low-carbon economic dispatch method for multi-region interconnected systems driven by electrical demand response, the proposed model can further tap the user-side low-carbon potential, effectively reduce the system carbon emissions, decrease the system operation cost to a certain extent, and guarantee the rationality of benefit distribution among all entities.