Economic dispatch based on fuel pricing / Muhammad Rabbani Mohd Basri

In economic dispatch problem, the solution is usually obtained at an average fuel price. In actual case, the fuel that being consumed by the generating unit may be affected by the pricing schemes. This paper presents a solution to solve economic dispatch problem based on fuel pricing. The solution is developed using lambda iteration method. This method is tested on a system with 2 generating units. The results obtained are compared with the economic dispatch solution without considering the fuel pricing schemes.