This paper introduces a new exclusive binary search (EBS) algorithm to solve the economic dispatch problem (ED). This new algorithm converges to the best possible solution, corresponding to the precision requirements of the problem with a systematic search structure. The most essential purpose of economic dispatch is the optimal allocation of each generator's load sharing and the cost reduction of the active units in the power system. In this article, nonlinear factors and constraints are considered, including inlet steam valves’ effect, Valve-Point Effect (VPE), generation and load balances in the system, prohibited operating zones (POZs), power generation limits, ramp rates limits, and line losses. According to these constraints, the complexity of computation increases. However, the proposed algorithm will be able to find the optimal solution. This algorithm is implemented on three standardized 13, 15, and 40-unit test systems considering different operating conditions. Simulation results indicate the capability of this algorithm to solve ED problems.
