Equilibrium Optimizer for Solving Economic Dispatch Problem

This paper presents application of new evolutionary optimization algorithm, named equilibrium optimizer (EO) to solve economic dispatch problem having valve point effect, real power constraint, transmission line losses, ramp rate limits and prohibited zones of operation. To analyze the capability of proposed optimization algorithm, the algorithm is implemented on three test systems having 13, 15 and 140 unit systems and the results are compared along with other optimization algorithms applied to solve economic dispatch problem. To analyze the effect of generation probability (GP) on the performance of proposed EO algorithm, the EO algorithm is run for different values of GP and effect of GP on fuel cost is analyzed.