Minimization of Fuel Cost (Fcost)
The generator cost characteristics f are defined as quadratic cost function of generator power output PG . The objective function J is minimization of fuel cost for all generators:
(16)
where ai , bi andci are the cost coefficients of the i th generator. For PGi in (MW), the cost coeficientai is in ($/h), bi is in ($/MWh) and ci is in ($/MW2h).