Application of a new constraint handling method for economic dispatch considering electric market

In this paper, optimal load dispatch problem under competitive electric
market (OLDCEM) is solved by the combination of cuckoo search algorithm
(CSA) and a new constraint handling approach, called modified cuckoo
search algorithm (MCSA). In addition, we also employ the constraint
handling method for salp swarm algorithm (SSA) and particle swarm
optimization algorithm (PSO) to form modified SSA (MSSA) and modified
PSO (MPSO). The three methods have been tested on 3-unit system and 10-unit system under the consideration of payment model for power reserve
allocated, and constraints of system and generators. Result comparisons
among MCSA and CSA indicate that the proposed constraint handling
method is very useful for metaheuristic algorithms when solving OLDCEM
problem. As compared to MSSA, MPSO as well as other previous methods,
MCSA is more effective by finding higher total benefit for the two systems
with faster manner and lower oscillations. Consequently, MCSA method
is a very effective technique for OLDCEM problem in power systems.