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).