This paper demonstrates the application mechanism of a novel evolutionary algorithm to evaluate the financial performance of a power system while dealing with a combined economic and emission dispatch problem posed by various technical constraints. In particular, as a constrained objective function is associated with weighting factor scenarios, this problem considers the two dispatches for fuel and environmental aspects. Running simulations indicate that minimum costs are determined by weighting factors applied to the problem as a whole. Reducing total fuel costs with a dispatching priority and a pollutant target based on emission production has presented different implications as far as its contribution to the financial performance. Moreover, the increasing load demand results in generated power, costs, and emission discharges linked to the parameters and unit commitments.

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