This paper proposes an efficient method to solve the optimal power flow problem in power systems using Particle Swarm Optimization (PSO). The objective of the proposed method is to find the steady-state operating point which minimizes the fuel cost, while maintaining an acceptable system performance in terms of limits on generator power, line flow, and voltage. Three different inertia weights, a constant inertia weight (CIW), a time-varying inertia weight (TVIW), and global-local best inertia weight (GLbestIW), are considered with the particle swarm optimization algorithm to analyze the impact of inertia weight on the performance of PSO algorithm. The PSO algorithm is simulated for each of the method individually. It is observed that the PSO algorithm with the proposed inertia weight yields better results, both in terms of optimal solution and faster convergence. The proposed method has been tested on the standard IEEE 30 bus test system to prove its efficacy. The algorithm is computationally faster, in terms of the number of load flows executed, and provides better results than other heuristic techniques.