  This paper presents a novel procedure for energy management system (EMS) that
can utilize the flexibility in transmission network in a practical way. With
the proposed enhanced EMS procedure, the reliability benefits that are provided
by corrective transmission switching (CTS) in real-time contingency analysis
(RTCA) can be translated into significant cost savings in real-time
security-constrained economic dispatch (RT SCED). Simulation results show the
congestion cost with consideration of CTS is largely reduced as CTS can relieve
potential post-contingency network violations. The effects of integrating CTS
in existing EMS procedure on markets are also analyzed. In conclusion, this
two-part paper shows that CTS can achieve substantial reliability benefits, as
well as significant cost savings.
