System, method, and apparatus for settlement for participation in an electric power grid
First Claim
1. A method for market-based financial settlement in an electric power grid, comprising:
- at least one active grid element participating in the electric power grid by consuming power, supplying power, and/or curtailing power to provide operating reserves and/or grid stability for the electric power grid;
the at least one active grid element generating at least one kilowatt packet (KWP) unit based upon measured data for the participation of the at least one active grid element in the electric power grid;
the at least one active grid element transmitting at least one Internet Protocol (IP)-based settlement message to a settlement processor, wherein the at least one IP-based settlement message comprises the at least one KWP unit; and
the settlement processor providing a market-based financial settlement for the participation of the at least one active grid element based on the at least one KWP unit in real time or near real time.
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Accused Products
Abstract
Systems and methods for market-based financial settlement in an electric power grid are disclosed. At least one active grid element is constructed and configured in network communication with a settlement processor. The at least one active grid element participates in the electric power grid by consuming power, supplying power, and/or curtailing power to provide operating reserves and/or grid stability for the electric power grid. The at least one active grid element generates at least one kilowatt packet (KWP) unit based upon measured data for the participation in the electric power grid. The at least one active grid element transmits at least one IP-based settlement message to the settlement processor. The settlement processor provides a market-based financial settlement for the participation of the at least one active grid element based on the at least one KWP unit in real time or near real time.
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Citations
20 Claims
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1. A method for market-based financial settlement in an electric power grid, comprising:
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at least one active grid element participating in the electric power grid by consuming power, supplying power, and/or curtailing power to provide operating reserves and/or grid stability for the electric power grid; the at least one active grid element generating at least one kilowatt packet (KWP) unit based upon measured data for the participation of the at least one active grid element in the electric power grid; the at least one active grid element transmitting at least one Internet Protocol (IP)-based settlement message to a settlement processor, wherein the at least one IP-based settlement message comprises the at least one KWP unit; and the settlement processor providing a market-based financial settlement for the participation of the at least one active grid element based on the at least one KWP unit in real time or near real time. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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18. A system for market-based financial settlement in an electric power grid, comprising:
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at least one active grid element and a settlement processor; wherein the at least one active grid element is constructed and configured in network communication with the settlement processor in real time or near real time; wherein the at least one active grid element participates in the electric power grid to provide operating reserves and/or grid stability for the electric power grid; wherein the participation comprises consuming power from the electric power grid, supplying power to the electric power gird, and curtailing power from the electric power grid; wherein the at least one active grid element is operable to generate at least one kilowatt packet (KWP) unit based upon measured data for the participation in the electric power grid; wherein the at least one active grid element is operable to transmit at least one IP-based settlement message to the settlement processor; wherein the settlement processor is operable to provide a market-based financial settlement for the participation of the at least one active grid element based on the at least one KWP unit in real time or near real time. - View Dependent Claims (19, 20)
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Specification