Combined Economic and Emission Dispatch Solution Using Exchange Market Algorithm

This paper proposes the exchange market algorithm (EMA) to solve the combined economic and emission dispatch (CEED) problems in thermal power plants. The EMA is a new, robust and efficient algorithm to exploit the global optimum point in optimization problems. Existence of two seeking operators in EMA provides a high ability in exploiting global optimum point. In order to show the capabilities of EMA in solving CEED problem, several experimentations are conducted on systems with 6, 10, and 40 generation units applying valve-point effects and network power losses in a multi objective function consists of system fuel cost and emission level. The obtained results are compared with other advanced techniques such as Strength Pareto evolutionary algorithm, non-dominating sorting genetic algorithm II, multi objective evolutionary algorithm, fuzzy clustering-based particle swarm optimization, multi objective differential evolution, gravitational search algorithm, modified bacterial foraging algorithm, etc. The results well demonstrate the practical advantage of the exchange market algorithm over the other approaches.