Optimizing the Daily Energy Consumption of an Enterprise

The paper considers the problem of determining the optimal daily energy consumption of an enterprise. By solving this problem, a reduction of electricity costs can be achieved by reducing energy consumption during periods of high prices, increasing energy consumption during hours when electricity prices are lower, as well as by cardinally reducing energy consumption during peak load hours. To determine the optimal daily energy consumption, three different optimization methods are proposed – linear programming method, genetic algorithm, and particle swarm optimization algorithm. The results are provided regarding the solution of the problem using the specified methods and specific input data, as well as data on actual and forecasted electricity prices. The study includes an estimation of savings obtained using various optimization methods. The effect of forecasted prices and price volatility on the size of savings is investigated as well. The methods for determining the optimal daily energy consumption discussed in this study can be useful for enterprises that pay for electricity at market prices.