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System, method and computer program product for risk-minimization and mutual insurance relations in meteorology dependent activities

  • US 7,430,534 B2
  • Filed: 12/21/2001
  • Issued: 09/30/2008
  • Est. Priority Date: 06/15/2001
  • Status: Active Grant
First Claim
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1. A method of translating meteorological forecast data to an operations data associated with providing electrical power produced from a renewable power generation facility to a power grid, comprising:

  • collecting meteorological factors that affect an amount of electrical power generated by the renewable power generation facility;

    developing a meteorological forecast from said meteorological factors collected;

    committing to deliver, by contract, at least a portion of a unit of power from said renewable power generation facility at a predetermined time coinciding with the meteorological forecast; and

    developing a trading position for said unit of power based on an uncertainty in said meteorological forecast.

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