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Electric power industry should play a bigger role in energy conservation and emission reduction, while the
ecosystem degradation rises because of the shortage of energy, the greenhouse effect and the environmental pollution.
Power generation dispatch is the key practice in electric power industry. In this paper, the value based dispatch theory is
proposed, which assigns the value to the natural resources according to the social development as well as environmental
and economic reasons. The goal of this theory is to maximize the energy value through the market mechanism. The
implementation is discussed based on a real case.