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Improved cost functions for economic dispatch compensations [on power systems]

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2 Author(s)
Liang, Z.-X. ; Dept. of Electr. & Comput. Eng., Northeastern Univ., Boston, MA, USA ; Glover, J.D.

Two polynomial curve fitting methods, Gram-Schmidt orthonormalization and the least-squares method, are evaluated for power system load dispatching economics analysis applications. It is shown that the Gram-Schmidt method, which does not require matrix inversion, gives more accurate fuel cost curves. Also, a constraint equation can be included in both methods to insure that incremental cost curves are monotonically increasing. Numerical examples are included to demonstrate the results

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Power Systems, IEEE Transactions on  (Volume:6 ,  Issue: 2 )