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In this paper, new multi-objective optimization algorithm is proposed. It optimizes the execution time, the energy consumption and the cost of booked nodes in the grid architecture at the same time. The proposed algorithm selects the best frequencies depends on a new optimization function that optimized these three objectives, while giving equivalent trade-off for each one. Dynamic voltage and frequency scaling (DVFS) is used to reduce the energy consumption of the message passing parallel iterative method executed over grid. DVFS is also reduced the computing power of each processor executing the parallel applications. Therefore, the performance of these applications is decreased and so on the payed cost for the booking nodes is increased. However, the proposed multi-objective algorithm gives the minimum energy consumption and minimum cost with maximum performance at the same time. The proposed algorithm is evaluated on the SimGrid/SMPI simulator while running the parallel iterative Jacobi method. The experiments show that it reduces on average the energy consumption by up to 19.7 %, while limiting the performance and cost degradations to 3.2 % and 5.2 % respectively.