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System, method, and apparatus for settlement for participation in an electric power grid

  • US 10,497,074 B2
  • Filed: 09/29/2017
  • Issued: 12/03/2019
  • Est. Priority Date: 10/24/2012
  • Status: Active Grant
First Claim
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1. A system for market-based financial settlement of transactions within an electric power grid network comprising:

  • a settlement processor;

    at least one coordinator; and

    at least one active grid element;

    wherein the settlement processor comprises a server and/or a processor operatively coupled with a memory, and a database constructed and configured for electrical connection and IP-based communication via a network with at least one coordinator;

    wherein the at least one coordinator is constructed and configured for electrical connection and IP-based network communication with the at least one active grid element that is registered to participate within the electric power grid network;

    wherein the at least one active grid element generates at least one KWP unit containing information for a market-based financial settlement, including measured data transformed by the at least one active grid element into settlement grade data for market financial settlement corresponding to participation of each of the at least one active grid element in the electric power grid network for load, supply or curtailment as supply;

    wherein a settlement message is transmitted via an IP-based network from the at least one active grid element to the settlement processor and/or the at least one coordinator; and

    wherein the settlement message includes an IP packet including revenue grade metrology associated with each of the at least one active grid element and at least one KWP unit for the market-based financial settlement corresponding to the participation of each of the at least one active grid element within the electric power grid network.

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