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The formulation and computation of an optimal load shedding time algorithm is presented. This new concept was developed as an enhancement to the application of optimal load shedding for corrective control to support future islanded power systems with anticipated, enhanced communications infrastructure. The methodology combines nonlinear mathematical programming and discretized differential-algebraic power systems equations to estimate the optimal amount of load to be shed as well as the best time to shed it. Several simulated scenarios are studied and results presented.