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Lambda Iteration Method

RaviTejaswi
2017-04-08 06:04:33
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The modern power system around the world has grown in complexity of interconnection and power demand. The focus has shifted towards the enhanced performance, increased customer focus, low cost, reliable and clean power. In this changed perspective, scarcity of energy resources, increasing power generation cost, environmental concern necessitates to optimal economic dispatch.

The main aim here is to reduce the production cost while maintaining the varying load demand at any time of the day. A power plant has to provide the load to all conditions throughout the day. It is therefore impossible to assume that the same level of power must be generated at all time. The power generation must vary according to the load pattern, which may in turn vary with season. Therefore the economic operation must take into account the load condition at all times. In reality power stations neither are at equal distances from load nor have similar fuel cost functions. Hence by providing cheaper power, load has to be distributed among the various power stations in a way which results in lowest cost of generation.

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Lambda Iteration Method (1.94 kB)

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