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From the PSSE Environment Manager Documentation (section 2.1.2 Setting the Security Code for Python to Use PSSE):
With each PSS®E installation you are given an activation string. This is used to activate your license to use that version of PSS®E on that computer; the details are handled by the installation script. If you need to you can “activate” other programs that use the PSS®E engine via a program installed with PSS®E called ACTV. Before PSS®E release 30.0.0 this was an extremely rare circumstance.
When you run Python outside of the PSS®E GUI, the program you are actually executing is either python.exe or pythonw.exe. The PSS®E installer “activates” both of these programs. However the activation process only uses the name of the program, not the location, version, or any other identifying characteristic to differentiate between two programs with the same name. Since the executable files python.exe and pythonw.exe are the same for Python 2.3 and 2.5 this means that each can only be “activated” for one version of PSS®E at a time.
Some good juicy details on how to handle the various Python and PSSE Environment are available in this guide.
