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This paper presents an innovative approach to use real-time scheduling techniques for the automation of electric loads in Cyber-Physical Power Systems. The goal is to balance the electric power usage to achieve an optimized upper bound on the power peak load, while guaranteeing specific constraints on the physical process controlled by the electric loads. Timing parameters derived from the scheduling discipline of real-time computing systems are used to model electric devices. Real-time scheduling algorithms can be exploited to achieve the upper bound by predictably and timely switching on/off the devices composing the electrical system. The paper shows the relevance of electric load balancing in power systems to motivate the use of real-time techniques to achieve predictability of electric loads scheduling. Real-Time Physical Systems (RTPS) are introduced as a novel modeling methodology of a physical system based on real-time parameters. They enable the use of traditional real-time system models and scheduling algorithms, with adequate adaptations, to manage loads activation/deactivation. The model of the physical process considered in this work is characterized by uncertainties that are compensated by a suitable feedback control policy, based on the dynamic adaptation of real-time parameter values. A number of relevant relationships between real-time and physical parameters are derived.