Comparative analysis of techniques for economic dispatch of generated power with modified Lambda-iteration method

In practical situations and under normal operating conditions, the generating capacities of power plants are larger than the sum of power losses and load demand. Also, power plants have different fuel costs and are not the same distance from the load centers. Hence the need for developing improved methods of economic dispatch of generated power from mostly remote locations to major load centers in the urban cities. Various methods adopted for optimal power dispatch are either cumbersome in their computational approaches or slow. This work utilized a modified Lambda-iterative technique developed in [1] to solve economic load dispatch (ELD) problems. The results obtained compared favorably with five other available ELD techniques and showed improved incremental cost values while meeting the specified generator limits.