Economic Dispatch Problem using Load Shedding: Centralized Solution

This paper aims to study the economic dispatch problem without the feasibility assumption. The economic dispatch problem can be infeasible because of the load and energy resources fluctuation, or the power losses. The idea of load shedding is adapted to maintain the system stability when the economic dispatch problem is infeasible. In this study, a novel multi-objective problem is proposed to solve the economic dispatch and load shedding problems simultaneously. This paper also minimizes the load shedding cost to determine the optimal amount of load shedding. A centralized solution based on dual ascent method is proposed and verified by numerical simulations.