Cost economic power dispatch analysis and solution using optimization technique: “CEPD model solution”

In today's scientific scenario the need for reducing power generation cost for minimum fuel used is of utmost importance [1]. One of the important contributors for cost of generation being on the higher side is improper allocation of load(s). In this paper we propose economic dispatch(ED) problem using MATLAB which significantly reduces cost of generation. The MATLAB uses its own in-build library function `fmincon' for execution of divergent non-linear optimization algorithms [2]. The `fmincon' function executes four divergent algorithms namely - i) Sequential Quadratic Programming (SQP); ii) Interior point; iii) Active set; iv) Trust region reflective. In this paper, SQP and interior point algorithms have been employed. Further these algorithms have been employed for cases with outage as well as without outage for IEEE 14 Bus Standard data along with cost coefficients. Basically, this paper is a comparison between optimization capabilities of SQP and interior point and which one is economically profitable with the same amount of load.