The purpose of this paper is to focus on the cost-effective and environmentally sustainable operation of thermal power systems to allocate optimum active power generation resultant for a feasible solution in diverse load patterns using the grey wolf optimization (GWO) algorithm.
The economic dispatch problem is formulated as a bi-objective optimization subjected to several operational and practical constraints. A normalized price penalty factor approach is used to convert these objectives into a single one. The GWO algorithm is adopted as an optimization tool in which the exploration and exploitation process in search space is carried through encircling, hunting and attacking.
A linear interpolated price penalty model is developed based on simple analytical geometry equations that perfectly blend two non-commensurable objectives. The desired GWO algorithm reports a new optimum thermal generation schedule for a feasible solution for different operational strategies. These are better than the earlier reports regarding solution quality.
The proposed method seems to be a promising optimization tool for the utilities, thereby modifying their operating strategies to generate electricity at minimum energy cost and pollution levels. Thus, a strategic balance is derived among economic development, energy cost and environmental sustainability.
A single optimization tool is used in both quadratic and non-convex cost characteristics thermal modal. The GWO algorithm has discovered the best, cost-effective and environmentally sustainable generation dispatch.
