Energy systems based on renewable energy sources require increasing demand side flexibility. Also, changes in the underlying cost structure, i. e., decreasing variable costs and increasing infrastructure investments, and varying customer needs should be reflected in the setup of future markets,...

This paper addresses the following question: How can smart energy management system (SEMS) influence the residential electricity consumption at both individual household and national level? First, we developed an hourly optimization model for individual households. The energy cost of an...