Optimization in Operation of Electric and Energy Power Systems

From the 1960s onwards the computer-assisted solution of the problem to distribute the load of an electric power system among all generation units in operation (economic dispatch) attracted the attention of load dispatchers (persons, responsible for economic and secure operation of a power system) in utilities and engineering scientists [12]. Hand in hand with the development of computer hardware to high internal speed, large main storages and low costs, different optimization methods have been applied to more and more complex operation planning models of power systems to better reflect their reality [13], [3], [4], [10]. Today, the operation planning problem is of high economic importance to the electric power industry in presence of deregulation measures, privatization, and an upcoming competitive marketing environment. This dramatic move to a market-based industry will significantly change power system operations. New pricing mechanisms (e.g., spot-market, auctions) will come in...