© 2017 IEEE. This study proposes to apply an efficient formulation to solve the stochastic security-constrained generation capacity expansion planning (GCEP) problem using an improved method to directly compute the generalized generation distribution factors (GGDF) and the line outage distribution factors (LODF) in order to model the pre- and the post-contingency constraints based on the only application of the partial transmission distribution factors (PTDF). The classical DC-based formulation has been reformulated in order to include the security criteria solving both pre- and post-contingency constraints simultaneously. The methodology also takes into account the load uncertainty in the optimization problem using a two-stage multi-period model, and a clustering technique is used as well to reduce load scenarios (stochastic problem). The main advantage of this methodology is the feasibility to quickly compute the LODF especially with multiple-line outages (N-m). This idea could speed up contingency analyses and improve significantly the security-constrained analyses applied to GCEP problems. It is worth to mentioning that this approach is carried out without sacrificing optimality.