As one of the greatest concerns in the context of smart grid, the load balancing problem
is addressed by improving the electrical power efficiency and stability via scheduling power
loads, thereby shaping the power demand into the desired pattern. The research explores
the load balancing strategies to reduce the demand fluctuations in the smart grid systems.
Centralized and decentralized load balancing methodologies are discussed. For centralized
approaches, offline and online exact power allocation methods are investigated by utilizing
the geometric water-filling (GWF) approach. Furthermore, decentralized load balancing
problem is discussed at power distribution sub-network level. Electrical vehicle (EV)
fleeting among the neighbouring charging stations is considered. Load balancing for the whole grid
is achieved by local optimization processes via Proximal Jacobian Alternating Direction
Method of Multipliers (ADMM) technique. Overall, facilitated by our proposed strategies,
the reliability of the electric grid can be enhanced.