Economic dispatch
Encyclopedia
Economic dispatch is the short-term determination of the optimal output of a number of electricity generation
facilities, to meet the system load, at the lowest possible cost, while serving power to the public in a robust and reliable manner. The Economic Dispatch Problem is solved by specialized computer software which should honour the operational and system constraints of the available resources and corresponding transmission capabilities. In the US Energy Policy Act of 2005
the term is defined as "the operation of generation facilities to produce energy at the lowest cost to reliably serve consumers, recognizing any operational limits of generation and transmission facilities"
Electricity generation
Electricity generation is the process of generating electric energy from other forms of energy.The fundamental principles of electricity generation were discovered during the 1820s and early 1830s by the British scientist Michael Faraday...
facilities, to meet the system load, at the lowest possible cost, while serving power to the public in a robust and reliable manner. The Economic Dispatch Problem is solved by specialized computer software which should honour the operational and system constraints of the available resources and corresponding transmission capabilities. In the US Energy Policy Act of 2005
Energy Policy Act of 2005
The Energy Policy Act of 2005 is a bill passed by the United States Congress on July 29, 2005, and signed into law by President George W. Bush on August 8, 2005, at Sandia National Laboratories in Albuquerque, New Mexico...
the term is defined as "the operation of generation facilities to produce energy at the lowest cost to reliably serve consumers, recognizing any operational limits of generation and transmission facilities"