Abstract

In this paper, i am developing a unique optimization based real time inland load management algorithm that takes into account load ambiguity in order to minimize the energy payment for each residential user, as well as reduce the peak to average ratio to overcome the drawbacks in the stability of electrical grid. By categorizing the all residential load in different classes, i.e. must run, interruptible and uninterruptible appliances, i used the real time pricing scheme for load management. However, real time pricing creates the peak profiles when the energy demand is too high, that’s why i used the combination of real time pricing and inclining blocks rates model to improve the grid stability by reducing the peak to average ratio. A simulation results show that the proposed algorithm efficiently and effectively reduced the overall residential energy cost as well as peak to average ratio of our model for data provided.