Economic Dispatch definition

Economic Dispatch means the sending of dispatch instructions to generation units to minimize the cost of reliably meeting load demands.

Economic Dispatch means the distribution of the total energy needs of BPDB among available sources of generation based upon the marginal cost to BPDB for requesting the next increment of energy, where plants will be dispatched by BPDB from the lowest in incremental cost to the highest in incremental cost, considering all relevant factors, including each available plant’s technical limits and availability and the capabilities of the Grid System at the time of dispatch;

Economic Dispatch means modifying the scheduling of power purchases from a generating facility within contrac- tually specified limits to minimize the costs of delivering electricity.

Examples of Economic Dispatch in a sentence

• CTS transactions are ordinarily evaluated on a 15-minute basis consistent with forecasted real-time prices from NYISO’s Real-Time Commitment run and the forecasted price information from PJM’s Intermediate Term Security Constrained Economic Dispatch solution.

• Administer a Real-Time energy market using Security-Constrained Economic Dispatch (SCED).

• Load Resources providing RRS must be either a Controllable Load Resource qualified for Security-Constrained Economic Dispatch (SCED) and capable of providing Primary Frequency Response or a Load Resource controlled by high-set under-frequency relays for automatic interruption.

• In any given hour, the Real-Time Economic Dispatch of the Real-Time Market runs every five (5) minutes during which the SCED produces binding Dispatch Instructions for the immediately subsequent five-minute interval.

• The CAISO’s Security Constrained Economic Dispatch in the Real-Time Unit Commitment and Real-Time Dispatch shall enforce the EIM Transfer limit and the associated physical limit at each EIM Internal Intertie.

More Definitions of Economic Dispatch

Economic Dispatch. (ED) means a mathematical optimisation model as described in Article 7;

Economic Dispatch means the distribution of the total energy needs of the Off-Taker among available sources of generation based upon the marginal cost to the Off-Taker for requesting the next increment of energy, where plants will be dispatched by the Off-Taker from the lowest in incremental cost to the highest in incremental cost, considering all relevant factors, including each available plant’s technical limits and availability and the capabilities of the Grid System at the time of dispatch;

Economic Dispatch. Means the distribution of PREPA's total energy needs among available sources for optimum system economy in accordance with Prudent Utility Practices.

Economic Dispatch means accepted utility practices for the dispatching of generating assets to meet the Florida Municipal Power Pool (“FMPP”) system load based upon the lowest possible cost, subject to transmission and operational constraints. Dispatch variables such as startup costs, heat rate, and Variable O&M costs will be updated as necessary but must follow FMPP protocol “Effective Date” shall mean the date on which the last Party executes the Agreement.

Economic Dispatch means that the related congestion management is based on the optimisation (minimisation) of dispatching (and redispatching) costs. It is the (centralised) system that fixes generation output level on the basis of offers and bids of generators/consumers. Finally, it should be recalled that the last model constitutes the market-based version of the Optimum Power Flows (OPF) calculations which were used commonly before liberalisation, by the vertically integrated utilities, on the basis of variable costs of generation units. Whereas the OPF calculations were able to minimise the costs of electrical losses in the past, the Nodal Approach would be able to contribute to minimisation of costs of electrical losses where applied in the future. To be clear, with this policy option, no ex-ante capacity is calculated, the determination of a base case is no longer required (and the difficulties linked to its determination disappear), and all long-term transmission rights are re-circulated in the day-ahead clearing mechanism as financial commitments.

Economic Dispatch. The distribution of total North Carolina Power energy needs among available sources for optimum system economy in accordance with the Prudent Utility Practice with due consideration of incremental generating costs, incremental power purchase costs, and incremental transmission losses as determined solely by North Carolina Power.

Economic Dispatch means to allocate output (active and reactive power) among available generation and imports to serve the system demand minimizing operational generation costs within system security constraints and operational limits of generation units to maintain the dynamic balance, as determined by the System Operation in accordance to the Grid Code;