In a smart grid environment, the utilities, which electric power distribution companies with different pricing strategies, are interested in demand side management (DSM) schemes to achieve reduction in peak demand. Utilities provide additional benefits and encourage the consumers to have direct interaction with the grid by actively participating in DSM programs. An intelligent residential load management system (IRLMS) is proposed for consumers to attain reduction in electricity bill and avail more incentive from the utility by responding to their DSM schemes. The IRLMS attempts to reduce the electricity bill and maintain the total load under maximum demand limit by scheduling the schedulable loads while considering the operating dynamics of non-schedulable loads. The IRLMS scheduler is built with two different techniques, namely priority-based scheduling algorithm and optimisation-based scheduling algorithm for different utility tariff methods such as flat rate tariff and real time pricing, respectively. The IRLMS model is implemented in MATLAB and the results illustrate significant benefits for both consumers and utility. © The Institution of Engineering and Technology.