Optimized Energy Generation Model and Pricing Strategy to Solve Economic Load Dispatch

The demand for electricity is increasing day by day but is not satiated in the same pace. Coming to power distribution in Bangladesh, though the generation has increased to 20 GW but because of low reliability, the consumers show apathy to take power from the grid. The industries are more concerned to take power from their own built power plants rather than the grid. As a result there always remains a gap between demand and supply of power. This paper emphasizes on increasing the generation from the existing generators simultaneously focusing on the decrement of per unit cost of electrical energy. We considered the Chattogram region of the South East zone of Bangladesh as our model for work. After determining the capacity, generation and per-unit cost of each generator, we marked the generators that produced a large amount of electricity at a low price and those that generate at high cost and worked a way out to level with either type to finally reach towards an optimized model with the minimum possible unit price. We moved towards a fruitful conclusion through series of case studies, marking the feasible and non-feasible generators and finding out the best possible alternatives for a valid model. We not only proposed the alternatives but also showed demand and economy compliant output through separate case studies.