In recent years the load demand by residential consumers are rapidly increasing due to the usage of many electric appliances in daily needs. Load demand during peak hours is becoming increasingly larger than off-peak hours, which is the major reason for inefficiency in generation capacity. Introduction of smart grid technology in Demand Side Management programs provides an alternative to installation of new generation units. Consumers can play a major role in reducing their energy consumption by communicating with utilities so that they can minimize their energy costs and get incentives, which also helps utilities in many ways. Smart grid technologies provide opportunities to employ different pricing schemes which also help in increasing the efficiency of appliance scheduling techniques. Optimal energy consumption scheduling reduces the peak load demand in peak hour. Peak average ratio (PAR) also minimizes the energy consumption cost. In this paper, we observes different energy consumption scheduling techniques that schedule the house hold appliances in real-time to achieve minimum energy consumption cost and to reduce peak load demand in peak hours to shape the peak load demand. Formulation and Solution methodology of residential energy consumption scheduling is presented with simulation results illustrating the working of the model. © Institute for Computer Sciences, Social Informatics and Telecommunications Engineering 2015.