Economic Dispatch allocates generation changes of a power system among generator units to achieve optimum area economy. Economic Dispatch provides guidelines for optimal electrical system operation in order to meet power requirements, steam requirements, and minimize fuel cost per generator.
Economic Dispatch utilizes advanced optimal power flow algorithms in order to determine the optimal generation pattern while maintaining adequate reserve margins. Generation levels of individual units are calculated and dispatched in order to meet the load demand at minimal costs. Consideration is given to the fact that the cost of generation is not proportional to the generation level, systems are geographically spread out, and transmission losses are dependent on the generation pattern. |
