We analyze two locational marginal pricing schemes in electricity markets derived from an economic dispatch (ED) problem with AC power flow equations that define a non-convex feasible set. The first among these prices, termed AC-LMPs, are Lagrange multipliers satisfy Karush-Kuhn-Tucker conditions for stationarity/local optimality of the ED problem. second, called SDP-LMPs, optimal dual semidefi...

An efficient and optimum economic operation of electric power generation systems has always occupied an important position in the electric power industry. This involves allocation of the total load between the available generating units in such a way that the total cost of operation is kept at a minimum. In recent years this problem has taken a suitable twist as the public has become increasing...

Scarcity of energy resources, increasing power generation cost and ever-growing demand for electric energy necessitates optimal economic dispatch in today’s power systems. The main objective of economic dispatch is to reduce the total power generation cost, while satisfying various equality and inequality constraints. Traditionally in economic dispatch problems, the cost function for generating...

The objective of Multi-area economic dispatch (MAED) is to determine the generation levels and the interchange power between areas that minimize fuel costs, while satisfying power balance and generating limit and transmission constraints. If an area with excess power is not adjacent to a power deficient area, or the tie-line between the two areas is at transmission limit, it is necessary to fin...

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In this paper, a modified ABC based on chaos theory namely CIABC is comprehensively enhanced and effectively applied for solving a multi-objective EED problem to minimize three conflicting objective functions with non-smooth and non-convex generator fuel cost characteristics while satisfying the operation constraints. The proposed method uses a Chaotic Local Search (CLS) to enhance the self sea...

This paper proposes a novel and efficient hybrid algorithm based on combining particle swarm optimization (PSO) and gravitational search algorithm (GSA) techniques, called PSO-GSA. The core of this algorithm is to combine the ability of social thinking in PSO with the local search capability of GSA. Many practical constraints of generators, such as power loss, ramp rate limits, prohibited opera...

This paper presents a novel stochastic optimisation approach to determining the feasible optimal solution of the economic dispatch (ED) problem considering various generator constraints. Many practical constraints of generators, such as ramp rate limits, prohibited operating zones and the valve point effect, are considered. These constraints make the ED problem a non-smooth/nonconvex minimisati...

An important criterion in power system operation is to meet an efficient approach for solving economic dispatch (ED) problems with non convex cost functions using particle swarm optimization (PSO). Although the Particle Swarm Optimization (PSO) approaches have several advantages suitable to heavily constrained non convex optimization problems, PSO framework employing chaotic sequences combined ...