MINIMIZATION OF ELECTRICITY CONSUMPTION COST OF A TYPICAL FACTORY

Abstract

The difference between the price of one Kilowatt-hour (KWh) during peak and normal hours was significantly high. The reduction in electricity consumption cost has drawn the attention towards optimal schedule. In this paper we developed a physical based optimization model that utilizes linear programming technique for minimizing electricity cost by rescheduling the specific load in such a way that all the requirements of the industry are fulfilled. The proposed model was implemented on load management problem of typical factory as a case study. The results showed that the significant reduction in peak electricity load was possible. As a result of rescheduling the load factor was improved that caused the reduction in the electricity consumption cost