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

  • US 20150046306A1
  • Filed: 10/20/2014
  • Published: 02/12/2015
  • Est. Priority Date: 10/24/2012
  • Status: Active Grant
First Claim
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1. A method for market-based financial settlement of transactions in an electric power grid network comprising the steps of:

  • at least one active grid element participating in an electric power grid for load, supply, and/or curtailment of power to provide operating reserves and/or grid stabilization for the electric power grid;

    the at least one active grid element generating information for a market-based financial settlement, the information including at least one kilowatt packet (KWP) unit based upon the participation in the electric power grid;

    the at least one active grid element transmitting an IP-based settlement message to a settlement processor and/or at least one coordinator; and

    the at least one coordinator aggregating settlement messages from the at least one active grid element;

    wherein the at least one active grid element has a home location identifier and a non-home location identifier and the market-based financial settlement includes factors and attributes for grid element participation associated with the home location identifier and with the non-home location identifier;

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

    wherein the at least one KWP unit each provides a quantifying market rate for monetization for any unit of kilowatts with respect to time and each comprises measured data transformed into settlement grade data for market financial settlement for load and supply corresponding to the participation of each of the at least one active grid element in the electric power grid for load or supply.

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