The exchange market algorithm with smart searching for solving economic dispatch problems. Issue 3 (3rd July 2018)

• Record Type: Journal Article
• Authors: Ghorbani, Naser; Babaei, Ebrahim
• Is Part Of: International journal of management science and engineering management. Volume 13:Issue 3(2018)
• Page Start: 175
• Page End: 187
• Publication Date: 2018-07-03
• Subjects: Economic dispatch -- exchange market algorithm -- penalty factor -- non-convex -- smart searching; Management science -- Periodicals; Engineering -- Management -- Periodicals; Engineering -- Management; Management science; Periodicals; 658.005
• DOI: 10.1080/17509653.2017.1365262
• Languages: English
• ISSNs: 1750-9661

Abstract

Abstract: This paper introduces the exchange market algorithm with smart searching (EMA-SS) for solving optimization problems in which a penalty factor has been embedded. The EMA-SS is a special version of the exchange market algorithm that imposes restrictions on the market and therefore asks shareholders to select shares with the total amount required. The need for a penalty factor is obviated resulting in a reduced search space and thus the ability of the algorithm to find an optimum point is increased. A penalty factor is used in solving the economic dispatch of a thermal generating unit problem where the total output power equates load demand and power loss. In this paper, the convex and non-convex economic dispatch of thermal generating units is optimized using the EMA-SS in large power systems with dimensions of 15, 20, 38, 40 and 140 units considering network losses, the equality and inequality constraints of the system, ramp rate limits, valve-point effects and prohibited operation zones. The obtained results are compared with those of the EMA and several robust and efficient techniques that use a penalty factor. The results of the EMA-SS verify its efficacy in solving economic dispatch problems in comparison with other methods.