Deployment of non-conventional energy resources, for instance, wind energy in the generation of electric power, has assumed immense importance in recent times. The wind power penetration into conventional power grids may have definite security connotations because the availability of wind power has primarily relied on weather conditions. As a result, in economic load dispatch (ELD) that comprises of penetration of wind power, a sensible compromise between the system risks and operating costs is preferred. In this paper, the Levy Interior Search algorithm (LISA) was implemented to elucidate the multi-objective ELD problem, taking into account, the penetration of wind power. Here the operating cost and system risk were considered as objective functions. The best compromise solution was determined using the fuzzy membership approach. In this paper, two different strategies are implemented for LISA. The superiority and efficacy of LISA were demonstrated through its implementation on a modified IEEE 30-bus system. The application results revealed that the LISA algorithm employing strategy II is able to yield better results when compared to ISA, LISA Strategy I, and other optimization algorithms.