The economic dispatch problem is a fundamental optimization problem in power system operation. It aims to minimize the total generation cost while meeting the power demand and satisfying the operational constraints. This post provides an overview of the economic dispatch problem, its formulation, and solution methods. The main reference of this post is Conejo’s lecture notes. Apart from the basic setting, the on-off and set-point conditions of the unit-commitment problem is also passes through to the ED formulation.
This post is also a supplement to the github repository PowerSystemOperation