Economic Load Dispatch

In the energy sector, Economic Load Dispatch (also known as load distribution) is a crucial optimization problem in power systems. The primary objective is to minimize total costs while meeting load demands by optimally allocating available generator capacities. The complexity of economic load dispatch increases with the size and sophistication of the power system. This optimization involves multiple variables, including generator maximum capacities, fuel costs, startup costs, and load demand requirements. Consequently, sophisticated optimization algorithms are essential for solving this problem effectively.

Common solution approaches include lambda-iteration methods (which utilize incremental cost curves and system lambda to achieve optimal dispatch), Newton-Raphson methods (employing derivative-based optimization for faster convergence), and linear programming techniques (formulating the problem with linear constraints and objective functions). Implementation typically involves creating cost functions for each generator, setting operational constraints, and using iterative algorithms to find the optimal power allocation. Programming solutions often utilize matrix operations for handling multiple generators and employ convergence criteria to ensure solution accuracy.