Investigation on the impact of the penalty factors over solution of the dispatch optimization problem

The objective of the economic dispatch problems of electrical power generation is to schedule the committed generating units output so as to meet the required load demand while satisfying the system equality and inequality constraints. This paper solves the combined economic emission dispatch problem by using various price penalty factor approaches and Lagrange's method. The price penalty factor for the combined economic emission dispatch (CEED) problem is the ratio of fuel cost to emission value. Most of the existing papers use Max-Max Price penalty factor for the CEED problem. This paper analyses and compares the impact of four different penalty factors over the optimization solution and convergence of the calculation procedure for the CEED problem. The considered penalty factors are Min-Max, Max-Max, Min-Min and Max-Min price penalty factors. The CEED problem is solved for the IEEE 30 bus system and an Indian utility system with six generating units using various price penalty factors. The simulated results show that Min-Max price penalty factor gives the best optimization solution in comparison to other price penalty factors for the CEED problem.