—This paper presents a game theory application for economic dispatch problem. In this application, economic dispatch problem has been applied to 6 thermal stations in 14-bus, 380kV power system in Turkey, by taking the generator limits and total demand into account, but transmission losses have been neglected. To find the optimum dispatch strategy Nash equilibrium has been used with MATLAB. Instead of following any particular strategy, the entire system has been analyzed. At the end of this paper, it was shown; calculated system total cost is smaller than the total cost of genetic algorithm and Lagrange function applications.
—Economic dispatch, game theory, Nash equilibrium, optimization.
Nezihe Yildiran is with Bahcesehir University, Energy Systems Engineering Department, Istanbul, Turkey (e-mail: email@example.com).
Emin Tacer was with Bahcesehir University, Energy Systems Engineering Department, Istanbul, Turkey.
Cite: Nezihe Yildiran and Emin Tacer, "Game Theory Approach to Solve Economic Dispatch Problem," International Journal of Trade, Economics and Finance vol.6, no.4, pp. 230-234, 2015.