Energy Bill Minimisation of Dynamic Tariff Bound Residential Consumers by Intentional Load Shifting

Energy consumption and power demands are always in an increasing trend. Smart grid technologies like demand response (DR), demand side management (DSM) and dynamic pricing are possible only with internet-of-things (IoTs). Further, smart grid technologies are promising to alleviate distribution congestion and bring energy economy to consumers. However, these technologies can agitate consumer’s choice of comfort and cause unexpected energy billing. Hence, a wide acceptance for DSM, DR among consumers, has become a challenge to power engineers and distribution companies. So, benefits due to load shifting in a dynamic tariff bound residential customer is analysed for single day. An automatic load shifting for energy economy with manual settings, without compromising consumer energy balance is analysed. From the results, it is justifiable as an acceptable solution for future smart grid. After load shifting, minimal energy billing cost without compromising consumer comfort and utility constraints are obtained. Hence, an active participation from the consumers can also be anticipated. IoTs and smart devices based prototype implementation is aimed as future work.