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The purpose of this paper is to solve the optimal power dispatch problem of thermal generating units with cubic fuel cost and emission functions.

The proposed Simplified Direct Search Method (SDSM) is developed from the Direct Search Method (DSM) that is a prevailing method for solving economic dispatch (ED) problems. The SDSM performs a direct search on solution space that starts with the minimum generation limits and provides the most economical schedule in a single execution for all load demands that the system can meet.

A simple methodology is developed to obtain the optimal dispatches of the generators in a thermal power plant. The results of the proposed methodology illustrate improvements in the savings of total cost and marginal reduction in transmission loss. It is also suitable for solving environmental constrained power dispatch problems. The proposed approach is computationally efficient for large‐scale systems.

A simple methodology has been developed to obtain the real power dispatches of thermal generating units with higher order fuel cost and emission functions.

The purpose of this paper is to deal with the economic requirements of power system loading dispatch and reduce the fuel cost of generation units. In order to optimize the scheduling of power load, an improved chicken swarm optimization (ICSO) is proposed to be adopted, for solving economic load dispatch (ELD) problem.

The ICSO increased the self-foraging factor to the chicks whose activities were the highest. And the evolutionary operations of chicks capturing the rooster food were increased. Therefore, these helped the ICSO to jump out of the local extreme traps and obtain the global optimal solution. In this study, the generation capacity of the generation unit is regarded as a variable, and the fuel cost is regarded as the objective function. The particle swarm optimization (PSO), chicken swarm optimization (CSO), and ICSO were used to optimize the fuel cost of three different test systems.

The result showed that the convergence speed, global search ability, and total fuel cost of the ICSO were better than those of PSO and CSO under different test systems. The non-linearity of the input and output of the generating unit satisfied the equality constraints; the average ratio of the optimal solution obtained by PSO, CSO, and ICSO was 1:0.999994:0.999988. The result also presented the equality and inequality constraints; the average ratio of the optimal solution was 1:0.997200:0.996033. The third test system took the non-linearity of the input and output of the generating unit that satisfied both equality and inequality constraints; the average ratio was 1:0.995968:0.993564.

This study realizes the whole fuel cost minimization in which various types of intelligent algorithms have been applied to the field of load economic scheduling. With the continuous evolution of intelligent algorithms, they save a lot of fuel cost for the ELD problem.

The ICSO is applied to solve the ELD problem. The quality of the optimal solution and the convergence speed of ICSO are better than that of CSO and PSO. Compared with PSO and CSO, ICSO can dispatch the generator more reasonably, thus saving the fuel cost. This will help the power sector to achieve greater economic benefits. Hence, the ICSO has good performance and significant effectiveness in solving the ELD problem.

The combined heat and power dispatch (CHPD) aims to optimize the outputs of online units in a power plant consisting thermal generators, co-generators and heat-only units. Identifying the operating point of a co-generator within its feasible operating region (FOR) is difficult. This paper aims to solve the CHPD problem in static and dynamic environments.

The CHPD plant operation is formulated as an optimization problem under static and dynamic load conditions with the objectives of minimizations of cost and emissions subject to various system and operational constraints. A novel bio-inspired search technique, grey wolf optimization (GWO) algorithm is used as an optimization tool.

The GWO-based algorithm has been developed to determine the preeminent power and heat dispatch of operating units within the FOR region. The proposed methodology provides fuel cost savings and lesser pollutant emissions than those in earlier reports. Particularly, the GWO always keeps the co-generator’s operating point within the FOR, whereas most of the existing methods fail.

The GWO is applied for the first time to solve the CHPD problems. New dispatch schedules are reported for 7-unit system with the objectives of total fuel cost and emission minimizations, 24-unit system for economic operation and 11-unit system in dynamic environment. The simulation experiments reveal that GWO converges quickly, consistent and the statistical performance clears its applicability to CHPD problems.

Currently, more renewable energy resources with advanced technology levels are incorporated in the electric power networks. Under this circumstance, the attainment of optimal economic dispatch is very much essential by the power system as the system requires more power generation cost and also has a great demand for electrical energy. Therefore, one of the primary difficulties in the power system is lowering the cost of power generation, which includes both economic and environmental costs. This study/paper aims to introduce a meta-heuristic algorithm, which offers an solution to the combined economic and emission dispatch (CEED).

A novel algorithm termed Levy-based glowworm swarm optimization (LGSO) is proposed in this work, and it provides an excellent solution to the combined economic and emission dispatch (CEED) difficulties by specifying the generation of the optimal renewable energy systems (RES). Moreover, in hybrid renewable energy systems, the proposed scheme is extended by connecting the wind turbine because the thermal power plant could not control the aforementioned costs. In terms of economic cost, emission cost and transmission loss, the suggested CEED model outperforms other conventional schemes genetic algorithm, Grey wolf optimization, whale optimization algorithm (WOA), dragonfly algorithm (DA) and glowworm swarm optimization (GSO) and demonstrates its efficiency.

According to the results, the suggested model for Iteration 20 was outperformed GSO, DA and WOA by 23.46%, 97.33% and 93.33%, respectively. For Iteration 40, the proposed LGSO was 60%, 99.73% and 97.06% better than GSO, DA and WOA methods, respectively. The proposed model for Iteration 60 was 71.50% better than GSO, 96.56% better than DA and 95.25% better than WOA. As a result, the proposed LGSO was shown to be superior to other existing techniques with respect to the least cost and loss.

This research introduces the latest optimization algorithm known as LGSO to provide an excellent solution to the CEED difficulties by specifying the generation of the optimal RES. To the best of the authors’ knowledge, this is the first work that utilizes LGSO-based optimization for providing an excellent solution to the CEED difficulties by specifying the generation of the optimal RES.

Dynamic economic and emission dispatch (DEED) aims to optimally set the active power generation with constraints in a power system, which should target minimum operation cost and at the same time minimize the pollution in terms of emission when the load dynamically changes hour to hour. The purpose of this study is to achieve optimal economic and emission dispatch of an electrical system with a renewable generation mix, consisting of 3-unit thermal, 2-unit wind and 2-unit solar generators for dynamic load variation in a day. An improved version of a simple, easy to understand and popular optimization algorithm particle swarm optimization (PSO) referred to as a constriction factor-based particle swarm optimization (CFBPSO) algorithm is deployed to get optimal solution as compared to PSO, modified PSO and red deer algorithm (RDA).

Different model with and without wind and solar power generating systems; with valve point effect is analyzed. The thermal generating system (TGs) are the major green house gaseous emission producers on earth. To take up this ecological issue in addition to economic operation cost, the wind and solar energy sources are integrated with the thermal system in a phased manner for electrical power generation and optimized for dynamic load variation. This DEED being a multi-objective optimization (MO) has contradictory objectives of fuel cost and emission. To get the finest combination of the two objectives and to get a non-dominated solution the fuzzy decision-making (FDM) method is used herein, the MO problem is solved by a single objective function, including min-max price penalty factor on emission in the total cost to treat as cost. Further, the weight factor accumulation (WFA) technique normalizes the pair of objectives into a single objective by giving each objective a weightage. The weightage is decided by the FDM approach in a systematic manner from a set of non-dominated solutions. Here, the CFBPSO algorithm is applied to lessen the total generation cost and emission of the thermal power meeting the load dynamically.

The efficacy of the contribution of stochastic wind and solar power generation with the TGs in the dropping of net fuel cost and emission in a day for dynamic load vis-à-vis the case with TGs is established.

Cost and emission are conflicting objectives and can be handled carefully by weight factors and penalty factors to find out the best solution.

The proposed methodology and its strategy are very useful for thermal power plants incorporating diverse sources of generations. As the execution time is very less, practical implementation can be possible.

As the cheaper generation schedule is obtained with respect to time, cost and emission are minimized, a huge revenue can be saved over the passage of time, and therefore it has a societal impact.

In this work, the WFA with the FDM method is used to facilitate CFBPSO to decipher this DEED multi-objective problem. The results reveal the competence of the projected proposal to satisfy the dynamic load demand and to diminish the combined cost in contrast to the PSO algorithm, modified PSO algorithm and a newly developed meta-heuristic algorithm RDA in a similar system.

Following the deregulation of electricity markets in the USA, independent power producers operate as for-profit entities. Their profit depends on the price of electricity and an accurate forecast is critical in making bidding decisions on the electricity and reserve markets or engaging in bilateral contracts. Competing price forecasts have their accuracy expressed in statistical terms but producers need to determine the long-term value of using a given forecast. The purpose of this paper is to address this issue by presenting a method of electricity price forecast valuation which compares forecast models using financial rather than statistical measures.

The objectives of this paper are achieved by mathematical modeling of thermal power plants and price forecast information available to market participants and simulating the operation of a thermal power plant using various price forecasts and perfect information (as a baseline). The operating profit calculated over a long period was used for ranking forecast models.

The framework can be used to estimate the value of a new price forecast as well as to determine if potential gains from developing or acquiring a new forecast will justify the expenses. The results show that an improvement in terms of statistical forecast accuracy measures does not guarantee increased profit.

This paper presents a new method for comparing electricity price forecast models. It can be adapted to various types of thermal power plants that operate on liberalized electricity markets and utilize price-based dynamic economic dispatch models.

This paper presents a simulation-based valuation framework for short-term electricity price. The approach described in this paper can be utilized by independent power producers for different types of generators, operating on deregulated electricity markets.

Technological development has not only helped in effective integration of renewable sources but also made it possible for consumers to participate in system operation. Different market players are coming up in the electricity market, microgrid being one of them. Thus, this paper aims to investigate consumers’ role in the dispatch of a microgrid system that has a hybrid market structure under varied system conditions.

The mathematical model developed has been solved by the CONOPT solver in the GAMS optimization tool. GAMS-MATLAB interfacing is done to obtain solutions.

The problem formulated shows the effect of consumers in dispatch and overall operational cost. Consumers’ participation has been proposed through a quadratic cost function. The system operation under pool and bilateral contracts has been investigated. It shows that proper incentives to the consumers can help in reduction and effective management of the demand, carbon emission and overall system operational cost.

This paper considers the hybrid market structure to find the load dispatch in a microgrid system. The participation of consumers in the microgrid system has been implemented considering variations in wind power, solar power and load. The power exchange between the grid and microgrid system has been modeled showing the contribution of the consumers in system operation.

This study aims to present a novel optimization technique to solve the combined economic emission dispatch (CEED) problem considering transmission losses, valve-point loading effects, ramp rate limits and prohibited operating zones. This is one of the most complex optimization problems concerning power systems.

The proposed algorithm has been called advanced particle swarm optimization (APSO) and was created by applying several innovative modifications to the classic PSO algorithm. APSO performance was tested on four test systems having 14, 40, 54 and 120 generators.

The suggested modifications have improved the accuracy, convergence rate, robustness and effectiveness of the algorithm, which has produced high-quality solutions for the CEED problem.

The results obtained by APSO were compared with those of several other techniques, and the effectiveness and superiority of the proposed algorithm was demonstrated. Also, because of its superlative characteristics, APSO can be applied to many other engineering optimization problems. Moreover, the suggested modifications can be easily used in other population-based optimization algorithms to improve their performance.

Price forecasting is essential for risk management in deregulated electricity markets. The purpose of this paper is to propose a hybrid technique using wavelet transform (WT) and multiple linear regression (MLR) to forecast price profile in electricity markets.

Price series is highly volatile and non‐stationary in nature. In this work, initially complete price series has been decomposed into separate 48 half‐hourly series and then these series have been categorized into different segments for price forecasting. For some segments, WT based MLR has been applied and for the other segments, simple MLR model has been applied. The model is general in nature and has been implemented for one day‐ahead price forecasting in National Electricity Market (NEM) of Australia. Participants can use the technique practically, since it predicts price well before submission of bids.

Forecasting performance of the proposed WT and MLR based mixed model has been compared with the three other models, an analytical model, a MLR model and an artificial neural network (ANN) based model. The proposed model was found to be better. Performance evaluation for different wavelets was performed, and it has been observed that for improving forecasting accuracy using WT, Daubechies wavelet of order two gives the best performance.

Forecasting accuracy improvement of an established technique by incorporating time domain and wavelet domain variables of the same time series into one set has been implemented in this work. The paper also attempts to explain how non‐stationarity can be removed from a non‐stationary time series by applying WT after appropriate statistical investigation. Moreover, real time electricity markets are highly unpredictable and yet under investigated. The model has been applied to NEM for the same reason.

This paper reviews the literature on maintenance strategies for energy efficiency as a potential maintenance approach. The purpose of this paper is to identify the main concept and common principle for each maintenance strategy for energy efficiency.

A literature review has been carried out on maintenance and energy efficiency. The paper systematically classified the literature into three maintenance strategies (e.g. inspection-based maintenance [IBM], time-based maintenance [TBM] and condition-based maintenance [CBM]). The concept and principle of each maintenance strategy are identified, compared and discussed.

Each maintenance strategy's main concept and principle are identified based on the following criteria: data required and collection, data analysis/modeling and decision-making. IBM relies on human senses and common senses to detect energy faults. Any detected energy losses are quantified to energy cost. A payback period analysis is commonly used to justify corrective actions. On the other hand, CBM monitors relevant parameters that indicate energy performance indicators (EnPIs). Data analysis or deterioration modeling is needed to identify energy degradation. For the diagnostics approach, the energy degradation is compared with the threshold to justify corrective maintenance. The prognostics approach estimates when energy degradation reaches its threshold; therefore, proper maintenance tasks can be planned. On the other hand, TBM uses historical data from energy monitoring. Data analysis or deterioration modeling is required to identify degradation. Further analysis is performed to find the optimal time to perform a maintenance task. The comparison between housekeeping, IBM and CBM is also discussed and presented.

The literature on the classification of maintenance strategies for energy efficiency has been limited. On the other hand, the ISO 50001 energy management systems standard shows the importance of maintenance for energy efficiency (MFEE). Therefore, to bridge the gap between research and industry, the proposed concept and principle of maintenance strategies will be helpful for practitioners to apply maintenance strategies as energy conservation measures in implementing ISO 50001 standard.

The novelty of this paper is in-depth discussion on the concept and principle of each maintenance strategy (e.g. housekeeping or IBM, TBM and CBM) for energy efficiency. The relevant literature for each maintenance strategy was also summarized. In addition, basic rules for maintenance strategy selection are also proposed.