Economic Dispatch with MATLAB Implementation

This article focuses on the economic dispatch problem, specifically addressing the development of a MATLAB M-file implementation. The M-file will incorporate various optimization algorithms to minimize power generation costs in electrical systems. Several methodological approaches are available for implementation, with one common technique being linear programming-based algorithms. Alternative optimization methods include simulated annealing and genetic algorithms. Regardless of the chosen algorithm, practical implementation requires careful consideration of computational efficiency and real-world applicability to ensure the program's effectiveness in operational scenarios.

From a coding perspective, the implementation typically involves defining objective functions representing generation costs, setting system constraints (such as power balance equations and generator limits), and selecting appropriate optimization solvers. Key MATLAB functions that may be utilized include linprog for linear programming implementations, custom iterative functions for metaheuristic algorithms, and constraint handling mechanisms. The algorithm selection should balance solution accuracy with computational requirements, particularly for large-scale power systems where execution time becomes critical.