If you have more than one source of power generation, how to select the operating one and exclude another? What is the common technique for optimizing the power source? Is there a technique like this?
Economic Load Dispatch, is one of techniques to share load among various online generation sources based on their operating cost, which minimise the total generation cost.
If operating constraints like active and reactive power limits of generators, voltage limit, load angle limit, power flow limit of transmission lines, tap-changer limits, shunt VAr injection limits, etc, also to be considered along with economic aspects, then Optimal Power Flow (OPF) technique is useful.
On the other side, Unit Commitment (UC) is used to decide scheduling of online and/or offline generating units as per load profile on the system.
Economic dispatch (ED) is the short-term determination of the optimal output of a number of electricity generation facilities, to meet the system load, at the lowest possible cost, subject to transmission and operational constraints. The Economic Dispatch Problem is solved by specialized computer software which should satisfy the operational and system constraints of the available resources and corresponding transmission capabilities.
Unit commitment (UC) is an optimization problem used to determine the operation schedule of the generating units at every hour interval with varying loads under different constraints and environments. Many algorithms have been invented in the past five decades for optimization of the UC problem, but still researchers are working in this field to find new hybrid algorithms to make the problem more realistic. The importance of UC is increasing with the constantly varying demands. Therefore, there is an urgent need in the power sector to keep track of the latest methodologies to further optimize the working criterions of the generating units.
The Optimal Power Flow (OPF) model represents the problem of determining the best operating levels for electric power plants in order to meet demands given throughout a transmission network, usually with the objective of minimizing operating cost.