Application of convex programming to rescheduling of transactions in a deregulated power market

We address the issue of improving transmission security in a deregulated power market. We propose an optimization procedure that assures that transmission security is maintained, and generates minimal corrections in existing contractual transactions that are necessary to ensure security. Our procedure is based on a DC load flow, and as such it is intended as a screening tool, and a source of candidate control actions that will be later refined by a more accurate model. Our approach may also enable faster calculations of important operational quantities like available transfer capability