The economic dispatch (ED) is one of the most important short-term problems in power systems, and solving it quickly is essential. However, classical optimization tools are often too computationally demanding to be considered satisfactory. This has motivated the application of metaheuristic methods, which offer a good compromise in terms of solution quality and computation time. However, these methods have been applied in an isolated way and on different problem definitions and case studies, so that there were no clear insights on how they compared to each other. This paper fills this gap by performing an objective comparison of six metaheuristics solving the ED in several case studies under different conditions. Although mixed-integer programming performs best for small case studies, our results confirm that metaheuristics are able to efficiently solve the ED problem. Genetic algorithms emerge as the best performers in terms of solution quality and computation time, followed by PSO and TLBO.
Keywords: Economic dispatch; Heuristic algorithms; Evolutionary computation; Genetic algorithms; Particle swarm optimization
Electrical Engineering. Volume: 100 Issue: 4 Pages: 2825-2837
JCR Impact Factor and Scopus quartile: 1.269 - Q2 (2017)
DOI reference: 10.1007/s00202-018-0750-4
Published on paper: December 2018. Published on-line: October 2018.
H. Abdi, H. Fattahi, S. Lumbreras. What metaheuristic solves the economic dispatch faster? A comparative case study. Electrical Engineering. vol. 100, no. 4, pp. 2825-2837, December 2018. [Online: October 2018]