Recent methodologies and approaches for the economic dispatch of generation in power systems

The new tendencies in the power system organization and the fast-changing technologies in the power industry dictate the need to keep track of the international experience and activities in the field of the modern economic dispatch problem. The goal of this paper was to provide a detailed account for papers published after 1990, the year that saw the beginning of major transformations in the power system organization. A comprehensive survey on mathematical formulations and a general background of methods, analyses, and developments in the field of economic dispatch is presented for the past 20years based on more than 150 publications. The research literature in the field is classified into sections covering economic dispatch in both regulated and deregulated (reregulated) energy markets and where variable, partial predictable electricity generation is part of the generation portfolio. A database of the most common test systems used in the literature to test different economic dispatch methodologies is also provided. Copyright (c) 2012 John Wiley & Sons, Ltd.