Economic Dispatch

Economic dispatch is a classic optimization problem in power systems that aims to minimize generation costs while meeting load demand. MATLAB is frequently employed for implementing economic dispatch algorithms due to its powerful numerical computation capabilities.

The core objective of economic dispatch is to minimize total generation costs by optimizing active power output allocation among generating units while satisfying constraints such as power balance equations and generation output limits. Quadratic cost functions are typically used to characterize the fuel cost characteristics of generating units.

When implementing economic dispatch in MATLAB, the following approaches are commonly adopted: Construct generator cost functions incorporating fuel cost coefficients and output variables Establish power balance equality constraints and generator output inequality constraints Select appropriate optimization algorithms such as interior-point methods, gradient descent, or particle swarm optimization Utilize MATLAB optimization toolbox functions like fmincon to solve nonlinear programming problems

Advanced implementations may consider: Non-smooth cost functions due to valve-point effects Economic dispatch incorporating network losses Integration of renewable energy uncertainties Multi-period dynamic economic dispatch

Implementing economic dispatch algorithms through MATLAB enables intuitive analysis of how different parameters affect dispatch results, validates algorithm effectiveness, and provides decision support for power system operations.