MATLAB: Solving economic dispatch problem using global optimisation methods

cost functioneconomic dispatch problemMATLAB

Hello. What are the most adapted methods/optimisation algorithms (linprog, fmincon, …) to solve the following power flow dispatch problem (between two generating units)? Below the formulation of my problem:
– Decision variables are the power of a thermal generator (gas turbine) (P_GT), and the power of the electrical network (P_Net). These variables are regrouped in Ppl vector as follows:
-Obj function is a cost function given by:
C_Net is the purchase cost of electrical network power. This cost is linear (=0.1524 Euro/Kwh) (see Fig1). C_GT is the thermal generator power production cost. This cost function has a cubic form (see Fig2). The objectives of this optimal power flow dispatching is supplying the load (P_Load), and minimizing the total operating cost under a set of constraints.
-Equality constraint is the load balance equation:
-Inequality constraints: In this problem, I prefer using lower bound and upper bound of decision variables instead of the inequality constraints.
are respectively the nominal power of thermal generator and electrical network.
Cost functions:

Best Answer

Your cost function has a nonlinear part. Why would you consider using linprog?
Just use fmincon.
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