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Economic load dispatch (ELD) is an important dynamic problem in power system operation and control. The objective of the problem is to schedule power generation for the units with valve-point effect satisfying the transmission loss and ramp-rate constraints. In this paper, a novel quantum particle swarm optimization that was based on chaotic initialization and mutation algorithms is used to solve the dynamic economic dispatch problem for generating units. Results obtained with the proposed approach show that the algorithm has high quality solution, superior convergence characteristics and shorter computation time.