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Differential evolution (DE) is a simple but powerful evolutionary optimization algorithm with continually outperforming many of the already existing stochastic and direct search global optimization techniques. DE algorithm is a new optimization method that can handle non-differentiable, nonlinear, and multimodal objective functions. This paper presents an efficient modified differential evolution algorithm for solving economic dispatch problem. A new mutation strategy of the conventional DE is suggested to improve the performance and avoid premature convergence. Numerical results on the IEEE 30 bus test system and the practical Algerian 59 bus system show that the proposed approach is faster and more robust compared with those reported recently in the literature. The comparison results prove the capability of the proposed method in real-time implementation for the economic dispatch problem. [ABSTRACT FROM AUTHOR]