Comparative study of the price penalty factors approaches for Bi-objective dispatch problem via PSO

One of the main objectives of electricity dispatch centers is to schedule the operation of available generating units to meet the required load demand at minimum operating cost with minimum emission level caused by fossil-based power plants. Finding the right balance between the fuel cost the green gasemissionsis reffered as Combined Economic and Emission Dispatch (CEED) problem which is one of the important optimization problems related the operationmodern power systems. The Particle Swarm Optimization algorithm (PSO) is a stochastic optimization technique which is inspired from the social learning of birds or fishes. It is exploited to solve CEED problem. This paper examines the impact of six penalty factors like "Min-Max", "Max-Max", "Min-Min", "Max-Min", "Average" and "Common" price penalty factors for solving CEED problem. The Price Penalty Factor for the CEED is the ratio of fuel cost to emission value. This bi-objective dispatch problem is investigated in the Real West Algeria power network consisting of 22 buses with 7 generators. Results prove capability of PSO in solving CEED problem with various penalty factors and it proves that Min-Max price penalty factor provides the best compromise solution in comparison to the other penalty factors