Abstract
Growing peak demand has necessitated the
introduction of Time-of-Use (TOU) pricing to Demand Side
Management (DSM) in order to cause some peak demand to be
shifted from peak to off-peak periods. Therefore, in this work, a
Daily Maximum Energy Scheduling (DMES) - DSM technique is
proposed. The DMES-DSM device is proposed to be installed
into consumers’ smart meters and schedule energy consumption
for smart appliances. The DMES–DSM technique was verified
with real household data and shown to be capable of optimizing
households’ monthly energy expenditure below approved
national energy expenditure threshold and also offer Peak
Demand Reduction (PDR). It offered the household considered
an average monthly financial savings of 22.44% and 36.73% in
summer and winter respectively on electricity bills. Utility can
also benefit from the PDR for grid stability and sustainability.
Also, the optimized consumption pattern differs only slightly
from initial consumption pattern for enhanced consumer
satisfaction.