Authors: Ayesha Kamal, Aneeqa Fakhar, Sobia Nisar, Muhammad Shafiq
Rapid industrialization and reliance on electrical energy has resulted in significant increase for demand of electrical power. Each thermal generating plant contains multiple generating units with varying characteristics in terms of cost and fuel consumption, directly reflected in the production cost of power plant. Fuel Cost-optimization and Profit maximization of a power plant is greatly affected by economic load dispatch and unit commitment. This paper aims to optimize the fuel cost of 14 thermal generating units by optimal allocation, considering varying load demand. Unit commitment of these generating units has been done using priority list, further incorporated in load curves for variable demand in various time periods of a day. After unit commitment, optimization techniques including Iterative, Analytical and Graphical have been used to determine the optimal value of fuel cost. Furthermore, the comparison of fuel cost obtained illustrates that Lambda Iterative has better performance than Graphical and Analytical optimization.
Economic Load dispatch, Fuel Cost Optimization, Thermal Generating Units, Unit Commitment, Priority List
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