Homogeneous cutting-plane method to solve the security-constrained economic dispatching problem

The paper presents a cutting-plane algorithm for the solution of a security-constrained economic dispatching problem using a homogeneous interior-point (HIP) method previously presented by the author. The HIP method is shown to be well suited for security dispatch as it accounts for network losses and allows reliable detection of infeasible cases. Inclusion of both (N-1) and (N-2) security constraints is achieved via the cutting-plane algorithm. It is shown that this algorithm is superior to the full approach in both time and storage. Computational results show that it is possible to solve dispatching problems with more than one million security constraints on a standard PC in a moderate amount of time