A new real-time constrained dispatch scheduling (CDS) is needed for TWBP. The CDS needs to be performed at every dispatch period to decide generation power of scheduling generators and amounts of scheduling load. Therefore, the CDS is not based on real generation costs but on bidding data of market participants with some constraints such as power balance, generation limits, ancillary service, and transmission line limits. This paper selects linear programming(LP) as an optimization tool for the CDS and presents effective formulae for the LP application. This paper also presents the way of minimizing the number of variables and constraints of the LP to improve real-time applicability.