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

  • US 20150248737A1
  • Filed: 10/20/2014
  • Published: 09/03/2015
  • 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;

    wherein the at least one active grid element generates information for a market-based financial settlement that includes at least one kilowatt packet (KWP) unit based upon a participation within the electric power grid for load, supply, and/or curtailment of power;

    wherein the participation within the electric power grid provides operating reserves and/or grid stabilization for the electric power grid;

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

    wherein the 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 within the electric power grid within near-real-time or about less than fifteen minute intervals of the participation by the at least one active grid element;

    wherein the at least one KWP unit 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;

    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

    wherein the at least one coordinator aggregates settlement messages from the at least one active grid element.

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