The smart Home Energy Management System (HEMS) proposed in this paper schedules the schedulable loads of the house based on available peak, off-peak tariff rates from the electricity board. The paper also discusses the various components that are used to identify the type of load connected to the supply for energy management. The system utilizes the available peak, off-peak tariff data and power consumption information of each load, analyses them for energy estimation and reschedules the household load accordingly to reduce the consumer’s electricity cost/bill. © 2016, Research India Publications.