Economic Assessment of Power Grid Development Using Artificial Bee Colony Algorithm

The electricity system is generally rapidly developing for covering various power demands with requiring a reliable and safe supply where the substructures are expanding further in generation systems, transmission systems, and distribution systems. However, the system must be run economically to access energy at a cost-effective level related to existing energy enterprises and energy consumption in the load which is represented periodically in the total costs of operations for all operating units. As a basis for its determination, the transmission of economic power within the technical limits applicable is taken into consideration. Environmental factors, on the other hand, are also an impediment to technical limitations. As a result, the operation's economic measure is expressed in the process of providing and selling energy to customers. These works use the Artificial Bees Colony algorithm to determine the scheduling of generating units using the basic principle of optimization to describe its relationship as an economic function. The IEEE-30 bus system is used as a basic model for system development. The analysis' findings show that the weighting factor scheme has an impact on the minimum total cost and that the combination of the electricity distribution process and environmental factors has implications for the operational financial condition and electricity production. The power output, in particular, is proportional to the cost of each generating unit.