1. Introduction
The electric power grid in the US has evolved from a vertically integrated system to a mixture of regulated and deregulated competitive market system. Grid oversight is transitioning from local utilities to an assortment of transmission companies, regional Independent System Operators (ISOs) and Regional Transmission Organizations (RTOs). Regulatory and economic pressures have caused new transmission construction to lag the growth in demand. These forces have increased pressure on electricity markets and caused operators to maximize the utilization of the system. The result is an operating environment where operators are faced with quick changing and previously unseen power flow patterns and operational conditions with limited information available for real-time operation and decision-making. Furthermore, the aging transmission lines, lack of transmission expansion and environmental constraints makes reliable system operation a more challenging task.