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It is apparent that power system restructuring provides a major forum for the application of decomposition techniques - including the Benders decomposition algorithm - to coordinate the optimization of various objectives among self-interested entities. It is used for solving large-scale, mixed-integer programming (MIP) problems. Benders decomposition has been successfully applied to take advantage of underlying problem structures for various optimization problems, such as restructured power systems operation and planning. This paper shows how Benders decomposition works in the power system.