The paper "Economic Dispatch Optimization Strategies and Problem Formulation: A Comprehensive Review" by Fatemeh Marzbani and Akmal Abdelfatah provides a comprehensive overview of Economic Dispatch Problems (EDPs) in power systems. EDPs aim to determine the optimal power output of generation units to meet system demand at the lowest cost while adhering to technical and operational constraints. The authors highlight the increasing complexity of EDPs due to the integration of new components and constraints in modern power systems, emphasizing the need for advanced optimization techniques. The review covers the mathematical formulation of EDPs, including single and multi-objective optimization methods, and traces the evolution of economic dispatch paradigms from traditional to contemporary strategies. It categorizes commonly used techniques into four groups: conventional mathematical approaches, uncertainty modeling methods, artificial intelligence-driven techniques, and hybrid algorithms. The paper identifies key research gaps, such as the focus on single-case studies and the challenge of comparing research due to arbitrary system choices and formulation variations. The authors advocate for standardized evaluation criteria and a broader range of case studies to enhance the practicality of optimization techniques in real-world applications. The review also discusses the integration of renewable energy sources and the challenges they pose to traditional EDP formulations, highlighting the need for innovative solutions like virtual power plants (VPPs) and multi-energy systems (MESs). The paper concludes by providing a critical analysis of existing literature, establishing current state-of-the-art methods, and identifying areas for future research. It emphasizes the importance of EDP in achieving efficient and cost-effective power system operation, while also addressing environmental and social benefits.The paper "Economic Dispatch Optimization Strategies and Problem Formulation: A Comprehensive Review" by Fatemeh Marzbani and Akmal Abdelfatah provides a comprehensive overview of Economic Dispatch Problems (EDPs) in power systems. EDPs aim to determine the optimal power output of generation units to meet system demand at the lowest cost while adhering to technical and operational constraints. The authors highlight the increasing complexity of EDPs due to the integration of new components and constraints in modern power systems, emphasizing the need for advanced optimization techniques. The review covers the mathematical formulation of EDPs, including single and multi-objective optimization methods, and traces the evolution of economic dispatch paradigms from traditional to contemporary strategies. It categorizes commonly used techniques into four groups: conventional mathematical approaches, uncertainty modeling methods, artificial intelligence-driven techniques, and hybrid algorithms. The paper identifies key research gaps, such as the focus on single-case studies and the challenge of comparing research due to arbitrary system choices and formulation variations. The authors advocate for standardized evaluation criteria and a broader range of case studies to enhance the practicality of optimization techniques in real-world applications. The review also discusses the integration of renewable energy sources and the challenges they pose to traditional EDP formulations, highlighting the need for innovative solutions like virtual power plants (VPPs) and multi-energy systems (MESs). The paper concludes by providing a critical analysis of existing literature, establishing current state-of-the-art methods, and identifying areas for future research. It emphasizes the importance of EDP in achieving efficient and cost-effective power system operation, while also addressing environmental and social benefits.