Smart meter assisted electric energy management schemes for power distribution and residential customer usage

Smart meter, the core part of smart grid system, is becoming an active field of research for its immense potential in efficient power distribution and load management. It is expected to have potential applications in Bangladesh as well. Efforts are already underway from distribution companies to introduce intelligence in the meter system. This paper proposes several smart meter assisted economic energy consumption schemes for consumers and power outage reduction scheme for distribution utility companies that will enhance the quality of service. Necessary analyses have been included to verify the proposed schemes. Real-life electric power demand and supply data from various substations under Dhaka Electric Supply Company (DESCO) have been used to validate the power outage reduction scheme. Results show that the schemes provide economic benefit to the consumer and an effective load management strategy for distribution companies. Operating issues related to the proposed schemes have also been detailed to highlight the practicality of the proposed schemes.