Economic dispatch algorithm by λ-P tables reflecting actual fuel cost curves

Abstract This paper presents a new approach to economic dispatch (ED) problems with actual fuel cost curves using a λ-P table method. Conventional ED algorithms are developed on the basis of approximated fuel cost function, which cannot be adapted to actual fuel cost curves properly. In this paper, a λ-P table method is proposed to improve accuracy of ED solution. It is noted that the proposed algorithm is very simple and has some advantages in considering the must-run condition and modifying the ED solution associated with generator addition/elimination. Numerical results of the proposed algorithm are compared with those of the conventional algorithms.