Demand Side Management: A different pricing Model

Meeting load demand is a critical aspect in a power system and has not been done effectively. In this paper, a Demand Side Management (DSM) strategy has been investigated on an institutional load with installed renewable energy sources. The learnings from this study is to persuade the customers to change their consumption pattern in line with the generation is the key for the success of a DSM. Customers being sensitive towards the cost of power an instantaneous pricing scheme is proposed to minimize the demand supply gap. Simulation results show that this method along with the available renewable energy sources results in a reduction in peak demand. This further brings down the burden on the utility to go in for additional generation. The results obtained are promising and can be tried by power utilities.