This paper introduces load shed recovery actions for transmission networks by presenting the dc optimal load shed recovery with transmission switching model (DCOLSR-TS). The model seeks to reduce the amount of load shed, which may result due to transmission line and/or generator contingencies, by modifying the bulk power system topology. Since solving DCOLSR-TS is computationally difficult, the current work also develops a heuristic (MIP-H), which improves the system topology while specifying the required sequence of switching operations. Experimental results on a list of N-1 and N-2 critical contingencies of the IEEE 118-bus test case demonstrate the advantages of utilizing MIP-H for both online load shed recovery and recurring contingency-response analysis. This is reinforced by the introduction of a parallelized version of the heuristic (Par-MIP-H), which solves the list of critical contingencies close to 5x faster than MIP-H with 8 cores and up to 14x faster with increased computational resources. The current work also tests MIP-H on a real-life, large-scale network in order to measure the computational performance of this tool on a real-world implementation. 1969-2012 IEEE.