Consensus based bisection approach for economic power dispatch

Economic dispatch problem (EDP) is an important optimization problem in power systems, aiming at minimizing the aggregate cost of a group of power generators, which cooperatively generate a given amount of power within their individual capacity constraints. In this paper, we present an average consensus based bisection approach for the EDP with quadratic cost functions, which is fully distributed and especially desirable in a smart grid scenario. Under the connected topology condition, we show that the proposed iterative solution converges to the globally optimal solution of EDP, without the need for a central decision maker or a leader node. Finally, numerical simulation based on the IEEE 14-bus system is given to show the performance of the approach.