The energy market is inherently incomplete and imperfectly competitive mainly due to the characteristics and special nature of the commodity of electric energy. To be able to control distribution grid in the condition with not elastic demand and continuously changing structure of the supply taking into account possible failures of supplies and also the fact that the supply of renewable energy resources (RES) can be poorly predicted, requires new mechanisms for flexible demand management. Such

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... chanism of grid control will be outcome of the international R&Đ project INERTIA that is funded by the EC within EU 7th Framework Programme, which is aimed at Smart Grids with a use of knowledge technologies. The semantic technologies were employed for several purposes. Semantic models were used for modelling of static data/timeindependent data. Time-dependent data representing events are annotated to the semantic models. This enables the system to filter, compute and enrich the event data and present them via GUI of the decision support system to operators. The demo application was developed by the team from Technical University of Kosice which is involved in the INERTIA project.It illustrates the use of the data models in the decision support system giving a sample mechanism to control the demand side of the electric grid.The demo application and the overall approach adopted in the INERTIA system are presented in this paper.