Abstract:
This study presents a new generation of smart meter that can optimally manage the energy demand. This device optimises the consumer’s
overall energy cost in a real-time environment by giving the customer an opportunity to set a minimal electricity tariff. It consists of
giving both utility and consumers of the electricity an opportunity to manage the supply and demand of the energy. From the supply point of
view, this is based on the conceptual framework of the standard advanced metering infrastructure. While on the consumer side, an additional
optimal design strategy is added into the device that can communicate with all electrical systems by automatically switching on and off some
specified loads. This application is developed based on the scheme of configuring into the smart meter two principal supply setting systems
which contain some non-optimal and optimal supply nodes. As a compact optimal smart meter system, it will ensure appropriate control and
reduce the cost of electricity. Moreover, it can encourage the use of renewable energy resources and resolve several issues of power system
integration.
