Large interconnected power systems are often operated by
independent system operators, each having its own operating region
within which internal resources are used economically. The operating
regions are connected physically by tie lines that allow one operator
to import from or export to its neighbors for better utilization of
overall system resources.In this talk, we present some recent results
on the optimal scheduling of interchange among independently operated
power systems in the presence of uncertainty. Based on the idea of
classic coordinate descent method, we propose an interface-by-interface
scheduling algorithm which is compatible to the current industrial
practice in the electric grid of U.S. and applied to synchronous and
asynchronous scheduling schemes