Performance Evaluation of HEBMO for Non-convex Economic Dispatch Problems Under Contingencies

Economic dispatch study is important in the electric power industry because it is concerned with efficient electrical power production and economics. It is crucial to reduce the operating costs of electric energy because even small savings have a large impact on total generation costs and fuel consumption. This paper presents the proposed algorithm namely Hybrid Evolutionary-Barnacles Mating Optimization (HEBMO) to solve non-convex economic dispatch (ED) problems specifically under the line and generator outages. The evaluation is tested on two types of reliability test systems (RTS), named IEEE 30-Bus RTS and IEEE 57-Bus RTS. HEBMO is compared to a single optimization algorithm, EP and BMO for performance evaluation purposes. The results show that the HEBMO algorithm outperforms EP and BMO in terms of minimizing the generation cost. On the other hand, HEBMO also achieves a convincing performance in terms of fast computational time.