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You do not need PSSE running or a licence to extract data from out files. I do this constantly without opening PSSE and without a dongle. We have limited dongles in our office so this is a very handy trick.

As long as you do not run psspy or do a psspy init, you can run dyntools completely by itself which is all you need to extract the data. If you need psspy specific functions, then you will need your licence.

I run dyntools for extraction and plot in matplotlib