Electrical power systems are considered to be among the most complex systems globally. However, these large-scale interconnected networks frequently operate under challenging conditions, which are mainly due to infrastructure improvement complexities, strict economic and environmental constraints, and various other technical factors, such as coordination among multiple system operators, heterogeneous grid standards, overlapping geographical regions, and monolithic operation tools.

In particular, the conventional control and monitoring paradigms currently adopted in power system operation tools should be radically enhanced in order to support the transition of existing electrical grids to fully decarbonized systems, where the large conventional power generators will be replaced by small-scale renewable power generators, which are characterized by random power injections distributed along the entire interconnected network. This transition process amplifies the complexities in managing both transmission and distribution systems, requiring larger spinning reserve margins, enhanced voltage regulation strategies, new flexibility sources, and improved coordination between transmission and distribution system operators (TSOs/DSOs).

Conventional electrical power systems were operated based on a "static model," wherein large and programmable power generation plants produced electricity, which was then transmitted to consumers via long transmission lines and wide distribution systems. In this context, the focus of the grid technological investments was mainly oriented on the task of enhancing the transmission system, which was considered the most strategic asset allowing the secure and reliable power system operation. This emphasis stemmed largely from the concentration of power generators in cost-effective locations. More specifically, substantial resources were allocated to constructing new transmission lines, with the goal of augmenting network reliability by increasing the grid meshing. This approach aimed at enabling the efficient transfer of large power transactions over large distances, while minimizing losses. Meanwhile, distribution networks received relatively less attention within the electricity supply chain, and they substantially played only a passive role. Consequently, the principles and criteria governing the planning and operation of distribution systems remained mainly unaltered over the overall power system history.

The solution of economic dispatch (ED) problems holds a central and extensively applied position in the context of smart grids analysis. The primary objective of ED is to efficiently manage the generation unit production, ensuring the system load demand is met at the least operational cost, while adhering to generators and grid constraints. The overall problem can be cast as a constrained nonlinear optimization problem [1], which can be solved by using numerous solution techniques spanning iterative numerical methods grounded on the Lagrange multipliers theory [2], dynamic programming [3], evolutionary algorithms [4], and heuristic approaches [5].

While these strategies provide valuable insights into the role of modern optimization techniques within ED analysis, their application necessitates the establishment of a data fusion center responsible for collecting and processing all the needed power system measurements. An ongoing debate within the smart grids research community delves into the appropriateness of this hierarchical control paradigm, particularly in light of the radical modification affecting modern power systems.

Over recent years, there has been a noticeable rise in electricity demand, a heightened intensity in energy trading activities, and an exponential growth of renewable power generators into existing power grids. These factors are collectively driving the imperative to enhance the transmission and distribution assets by increasing their transmission capacity. Anyway, many nations are grappling with public resistance to the construction of new power lines, driven by concerns over their visual impact and potential environmental impacts.

In this context, increasing the thermal rating for existing transmission and distribution lines emerges as a strategic alternative to the construction of new grid assets. The transmission capacity of an overhead line is essentially determined by the maximum allowable current, or "ampacity," which corresponds to the maximum tolerable temperature of the conductors. This temperature limitation is influenced by both the thermal characteristics of the conductor material and the available phase-to-ground clearances along the span of the line. The temperature of the conductors, in turn, hinges on the line current and the weather conditions along the entire line route [1].