An energy management system may include a refrigeration apparatus such as may be used to form an ice rink. Heat rejected from that apparatus may be used to address heating loads elsewhere. The apparatus may include a thermal storage apparatus, such as may be charged with ice, or another phase change material. The refrigeration apparatus may then be run for the purpose of obtaining the rejected heat, with the cooling of the thermal storage material as a by-product of operation to obtain extra rejected heat. The cold reservoir then developed in the thermal storage material may be used subsequently to provide cooling to a different load, at a different time of day. The thermal storage element may be used to provide cooling to a condenser of the refrigeration apparatus, or may be placed in series with a cooling load, such as an ice sheet or refrigerated enclosure. The apparatus may be electronically controlled, may used ammonia as an operating fluid in a vapor cycle system. The vapor cycle system may include a compressor, and may employ a floating head pressure on the compressor.