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Power trading and forecasting tool

  • US 5,974,403 A
  • Filed: 07/21/1997
  • Issued: 10/26/1999
  • Est. Priority Date: 07/21/1997
  • Status: Expired due to Term
First Claim
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1. A computer power trading and forecasting process for forecasting spot-market prices of electric power and trading transactions at different delivery points comprising the steps of:

  • inputting maximum generating capacities of each utility competing within the market, price functions at which a utility is willing to sell its power at a given time period, a weather forecast, and a transmission cost and transmission capacity in different power lines of the electrical system;

    using probabilistic distributions of electric load and the price function of each utility and transmission cost and transmission capacity between different utilities to build probabilistic distributions for the spot-market prices and for electric trades in the system; and

    outputting probabilistic distributions for spot prices and trades at a plurality of time periods of a planning horizon and for a plurality of delivery points to enable a power broker to effectively manage risk in buying and selling electric power with different suppliers and consumers.

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