ABSTRACT
The purpose of economic dispatch is to obtain the most economic generation schedule to satisfy electricity demand in the system. In this chapter, the principle of economic dispatch is introduced. The traditional economic dispatch methods, equal-incremental cost function, and coordination function are derived and illustrated by figures and examples. Using traditional economic dispatch methods, optimal generation schedules and the system incremental cost or marginal cost are obtained by solving the optimization model. In the end, piecewise linear generation cost functions and their applications in economic dispatch are introduced.
