Economic load dispatch has become the prime and major concern in power system networks. Use of nonrenewable fuels as an input to power systems results in toxic gas emission and depletion of resources for future generations. Allocation of optimal power to generators serves as a solution to this issue. The suggested power search algorithm (PSA) is a novel solution for the reduction of the fuel cost, emissions, and power loss. This algorithm searches its solution inside the search space from minimum to maximum in case of forward search. The global optimum solution is obtained with much less execution time compared to different optimization algorithms. The robustness of the PSA is tested with various IEEE test systems. The proposed PSA proves to be better than the existing algorithms.