• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.16 no.2
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• pp.181-188
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• 2016

This paper demonstrates that centralized economic load dispatch optimization is much more economical than independent optimization carried out by individual power generating companies. The algorithm applied here optimizes by balancing the generation power at the valve-point, then readjusting generation power by comparing incremental operating cost incurred by marginal increase in the generation power and decremental operating cost likewise incurred by marginal decrease in the generation power. Upon comparing 3 individual optimization cases of 10, 13, and 40 generators respectively with centralized optimization of 63 generators, centralized operation for economic load dispatch optimization has proven to maximize economic benefits by markedly reducing operation costs of individual optimization.