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This paper describes a home energy management system (HEMS) for the residential load control based on the price prediction. Smart metering and two-way communication based on the home area network can provide detail information of energy consumption patterns and controlling to appliances at home. The HEMS consists of the prices prediction, load scheduler and energy consumption monitor. The electricity pricing models are discussed to provide the price prediction capability. Then, the load scheduler is used to control the residential load with an aim at reducing the total energy cost. In addition, the smart meter and smart switchers are utilized to collect and monitor the energy consumption in the house. At last, a test-bed is constructed and the experiment results show that the HEMS based on the price prediction reduces the daily electricity expenditures by 22.2% as well as the peak-to-average-radio (PAR) by 35.5% in the load demand.