Optimizing the Power System Operation Problem towards minimizing Generation and Damage Costs due to Load Shedding

Abstract

Optimizing the operational parameters and control of the power system in steady-state conditions is a crucial issue in reducing the costs of power generation and operation. In the case of long-term operation of a power system, besides aiming to minimize power generation costs, the cost of damage caused by load shedding also needs to be considered. This paper presents the optimization of the total cost of a power system including minimizing the generation cost function of power plants or power companies and minimizing the damage cost function caused to customers due to load shedding or power outages. At the same time, the objective function must also ensure the constraints on the operating conditions of the power system. This contributes to maintaining the continuity of the power supply to critical loads and minimizing damage. Base loads, priority loads, or loads that are not allowed to be shed are considered as constraints. The optimization problem is addressed by using the Particle Swarm Optimization (PSO) algorithm and the Cuckoo Search Algorithm (CSA). The IEEE 30-bus test system is applied to validate the reduction in total cost. The result comparison shows that when applying the CSA, the total cost is significantly reduced by 3.75% in comparison with the PSO algorithm. The algorithms are implemented in Matlab to demonstrate the efficiency and accuracy of the proposed method.