This paper proposes a new Interior Point Method algorithm to improve the computation speed and solution stability, which have been challenging problems for employing the nonlinear Optimal Power Flow. The proposed algorithm is different from the tradition Interior Point Methods in that it adopts the Predictor-Corrector Method. It also accommodates the five minute dispatch, which is highly recommenced in modern electricity market. Finally, the efficiency and applicability of the proposed algorithm is demonstrated with a case study.