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An economic dispatch of committed units is considered for minimum generation cost.
For instance, a method of joint optimization and distributed control for IMS was proposed in [5], which uses the minimum generation cost as the objective function.
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When calculating optimal power flow (OPF) whose objective function is minimum power generation cost, the wind turbine can be connected to power system as negative load [27].
With the minimum power generation cost objective function, power balance equations and system safe operation constraints, OPF can make the priority scheduling of renewable power generation resources and the lowest levels for energy consumption goal come true (Appendix C and Appendix D) [28].
A later study addressed the problem of optimal model constructing for power systems with carbon capture power plant (CCPP), with the objectives of minimum generation and carbon emission cost [9].
In general, steam generation cost is comparatively lower than compressed air generation cost.
On the basis of that, a scheduling model with minimum carbon emission and total generation cost as objectives is established, taking DR compensation costs and reserve constraints into account.
The real-time power balancing concept provided above activates the regulating power while taking in account the maximum and minimum limits on generating units, dispatch limits and the generation cost.
1) Generation cost.
wind power generation cost.
operational conventional generation cost.
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