In this paper an population set based optimization method is proposed for solving some benchmark functions and also to solve optimal power flow problem like ‘combined economic and emission dispatch problem (CEED)’ with multiple objective functions. This algorithm has taken into consideration all the equality and inequality constraints. The improvement in system performance is based on reduction in cost of power generation and active power loss. The proposed algorithms have been compared with the other methods like GA, PSO etc reported in the literature. The results are impressive and encouraging. The study results show that the proposed method holds better solutions in CEED problems.