A novel crazy swarm optimized economic load dispatch for various types of cost functions

Economic load dispatch (ELD) is the scheduling of generators to minimize the total operating cost depending on equality and inequality constraints. The transmission line loss also is to be kept as minimum as possible. So, the problem is of multi-objective optimization. The authors have studied the comparative effectiveness of GA, Improved fast EP (IFEP) and various particle swarm optimizations (PSO) reported in the literature and a novel particle swarm algorithm namely CRAZYPSO for such multi-objective optimization in two test cases. The first test case deals with some well-known Benchmark functions and then the second case deals with a general power system having 40 thermal generating units with non-monotonically increasing cost functions with valve point loadings and other constraints. The generators are interconnected through lossy transmission lines. The proposed method out performs and provides true global optimal solutions as compared to other existing techniques for economic load dispatch.