SYSTEM AND METHOD FOR AUTOMATED TRADING OF ELECTRICAL CONSUMPTION
First Claim
1. A method for automated trading of electrical consumption comprising the steps of:
- receiving, over a network, a plurality of demand bids for energy on a power grid from a plurality of consumers, wherein each demand bid comprises an identification of a consumer, a quantity of energy, an economic value of the bid, and one or more demand bid criteria;
receiving, over the network, data relating to the price of energy on the power grid;
determining, using at least one computing device, if not servicing at least one of the plurality of demand bids will decrease the locational marginal price of energy on the power grid;
transmitting, over the network, an offer for compensation to the load associated with the at least one of the plurality demand bids, wherein the consumer receives the compensation if the consumer does not consume the energy related to the at least one of the demand bids.
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Accused Products
Abstract
A system and method for automated trading of electrical consumption. A plurality of demand bids for energy on a power grid from a plurality of consumers are received, over a network. Each demand bid comprises an identification of a consumer, a quantity of energy, an economic value of the bid, and one or more demand bid criteria. Data relating to the price of energy on the power grid is received over the network. It is then determined, using at least one computing device, if not servicing at least one of the demand bids will decrease the locational marginal price of energy on the power grid. An offer for compensation is then transmitted, over the network, to the load associated with demand bids, wherein the consumer receives the compensation if the consumer does not consume the energy related to the at least one of the demand bids.
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Citations
19 Claims
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1. A method for automated trading of electrical consumption comprising the steps of:
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receiving, over a network, a plurality of demand bids for energy on a power grid from a plurality of consumers, wherein each demand bid comprises an identification of a consumer, a quantity of energy, an economic value of the bid, and one or more demand bid criteria; receiving, over the network, data relating to the price of energy on the power grid; determining, using at least one computing device, if not servicing at least one of the plurality of demand bids will decrease the locational marginal price of energy on the power grid; transmitting, over the network, an offer for compensation to the load associated with the at least one of the plurality demand bids, wherein the consumer receives the compensation if the consumer does not consume the energy related to the at least one of the demand bids. - View Dependent Claims (2, 3, 4)
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5. A method for automated trading of electrical consumption comprising the steps of:
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receiving, over a network, a plurality of demand bids for energy on a power grid from a plurality of consumers, wherein each demand bid comprises an identification of a consumer, a quantity of energy, an economic value of the bid, and one or more demand bid criteria; receiving, over the network, data relating to the price of energy on the power grid; determining, using at least one computing device, if not servicing at least one of the plurality of demand bids will decrease the locational marginal price of energy on the power grid; determining, using the at least one computing device, if the consumer associated with the at least one of the demand bids has an agreement with an LSE to defer consumption of energy related to a demand bid for a predetermined compensation if the consumer is commanded to defer consumption of energy related to a demand bid; commanding, over the network, a consumer to defer consumption of energy related to a demand bid.
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6. A system for automated trading of electrical consumption comprising:
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a plurality of consumer systems operatively connected to a network, wherein each of the consumer systems is configured to accept a plurality of demand bids for energy on a power grid from a consumer, wherein each demand bid comprises an identification of a consumer, a quantity of energy, an economic value of the bid, and one or more demand bid criteria, and wherein each of the consumer systems are further configured to transmit the plurality of demand bids over the network; at least one control server operatively connected to the network, wherein the at least one control server is configured to receive the plurality of demand bids, and wherein the control server is further configured to receive, over the network, data relating to the price of energy on the power grid, and wherein the at least one control server is further configured to determine if not servicing at least one of the plurality of demand bids will decrease the locational marginal price of energy on the power grid, and wherein the control server is further configured to transmit over the network, an offer for compensation to the consumer from which the at least one of the demand bids originated, wherein the consumer receives the compensation if the consumer does not consume the energy related to the at least one of the demand bids. - View Dependent Claims (7, 8, 9, 10, 11, 12, 13, 14)
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15. A computer-readable medium having computer-executable instructions for a method for automated trading of electrical consumption comprising the steps of:
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receiving, over a network, a plurality of demand bids for energy on a power grid from a plurality of consumers, wherein each demand bid comprises an identification of a consumer, a quantity of energy, an economic value of the bid, and one or more demand bid criteria; receiving, over the network, data relating to the price of energy on the power grid; determining, using at least one computing device, if not servicing at least one of the plurality of demand bids will decrease the locational marginal price of energy on the power grid; transmitting, over the network, an offer for compensation to the load associated with the at least one of the plurality demand bids, wherein the consumer receives the compensation if the consumer does not consume the energy related to the at least one of the demand bids. - View Dependent Claims (16, 17, 18)
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19. A computer-readable medium having computer-executable instructions for a method for automated trading of electrical consumption comprising the steps of:
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receiving, over a network, a plurality of demand bids for energy on a power grid from a plurality of consumers, wherein each demand bid comprises an identification of a consumer, a quantity of energy, an economic value of the bid, and one or more demand bid criteria; receiving, over the network, data relating to the price of energy on the power grid; determining, using at least one computing device, if not servicing at least one of the plurality of demand bids will decrease the locational marginal price of energy on the power grid; determining, using the at least one computing device, if the consumer associated with the at least one of the demand bids has an agreement with an LSE to defer consumption of energy related to a demand bid for a predetermined compensation if the consumer is commanded to defer consumption of energy related to a demand bid; commanding, over the network, a consumer to defer consumption of energy related to a demand bid.
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Specification