Minimization in the price of electricity bills of consumers using MILP

摘要

Intensive efforts done on the modernization of power grid lead to smartness in the power grid where integration of large amount of renewable energy generation is done. This transformation is motivated due to global climate change, carbon emission and increasing demand of electricity. In the paper, an investigation is done to minimize the energy demand of a locality from the grid and how to reduce the total energy cost. The problem has been mathematically formulated and solved by using Mixed Integer Linear Programming(MILP). Results illustrate that using the optimal points lead to significant saving, both commercial and environmental.