This paper mainly focuses on economic power management of a grid interactive microgrid with BESS. The declining battery price at a rapid rate has laid a milestone for this paper. The colocating solar generation with BESS is a concept garnering much attention lately. This paper highlights how batteries can be cast-off for demand-charge management thereby contributing to savings in electricity bills. In this context, a generalized rule-based EPMA is proposed, which is capable of making decisions considering all the conditions that prevail throughout the year. For instance, at the time of non-conventional load hours like peak load hours, monsoons, power blackouts. Furthermore, the algorithm ensures sustained power supply for the critical industrial load by retaining battery Soc's within limits. Hence, we can extract maximum advantages from BESS, which in turn helps power customers to reduce their electricity bills and increase their incentives. © 2019 IEEE.