Because you gave us no bib file I created one for testing.
Please see the following MWE (package filecontents is only used to have bib file and tex code together in one compilable MWE):
\RequirePackage{filecontents}
\begin{filecontents*}{\jobname.bib}
@Book{Goossens,
author = {Goossens, Michel and Mittelbach, Frank and
Samarin, Alexander},
title = {The LaTeX Companion},
edition = {1},
publisher = {Addison-Wesley},
location = {Reading, Mass.},
year = {1994},
}
@Book{adams,
title = {The Restaurant at the End of the Universe},
author = {Douglas Adams},
series = {The Hitchhiker's Guide to the Galaxy},
publisher = {Pan Macmillan},
year = {1980},
}
@article{feynman,
title = {Very High-Energy Collisions of Hadrons},
author = {Richard P. Feynman},
journal = {Phys. Rev. Lett.},
volume = {23},
issue = {24},
pages = {1415--1417},
year = {1969},
month = {Dec},
doi = {10.1103/PhysRevLett.23.1415},
url = {http://link.aps.org/doi/10.1103/PhysRevLett.23.1415},
publisher = {American Physical Society},
}
@article{einstein,
author = {Albert Einstein},
title = {{Zur Elektrodynamik bewegter K{\"o}rper}. ({German})
[{On} the electrodynamics of moving bodies]},
journal = {Annalen der Physik},
volume = {322},
number = {10},
pages = {891--921},
year = {1905},
DOI = {http://dx.doi.org/10.1002/andp.19053221004},
}
@Article{Schamb2010,
Title = {Properties of the Distant Kuiper Belt: Results from the
Palomar Distant Solar System Survey},
Author = {(Megan E.) Schwamb and (Michael E.) Brown and
(David L.) Rabinowitz and Darin Ragozzine},
Journal = {The Astrophysical Journal},
Year = {2010},
Month = {September},
Number = {2},
Pages = {17},
Volume = {720},
Doi = {10.1088/0004-637X/720/2/1691},
Timestamp = {2014.09.21},
Url = {http://m.iopscience.iop.org/0004-637X/720/2/1691/pdf/0004-637X\_720\_2\_1691.pdf}
}
\end{filecontents*}
\documentclass[a4paper,11pt,number]{elsarticle}
\usepackage{showframe} % to visualise the typing area and margins
\usepackage{times} % Use Times New Roman Font
\usepackage[hyphens]{url} % To recognize URLs
\usepackage{ragged2e} % command \RaggedRight
\begin{document}
\title{Integrated Model for Power Interruption Contracts}
\author{Lakshmi Palaparambil Dinesh}
This is text with \cite{Goossens, einstein} and \cite{adams}.
\nocite{*} % to test all bib entrys
{
%\RaggedRight % <===================================================
\bibliographystyle{elsarticle-num} % apalike
\bibliography{\jobname}
}
\end{document}
you get the following result:

I marked the resulting white space you do not want with red rules ... The most elegant way I knew to get rid of them is to use package ragged2e, which gives you command \RaggdRight to get left justified text with better hyphenation! Please uncomment \RaggdRight in the MWE (see marking <=======) and recompile.
The result you get is now:

The red arrows marks the layout changings. For me that solution is much more better than the first ...
mis as wide as a.. Compare on separate lines (in a mono spaced font)mmm,.m.,m.m,i/1. – jon Oct 20 '16 at 20:53