System, method, and apparatus for settlement for participation in an electric power grid
First Claim
1. A system for market-based financial settlement of transactions within an electric power grid network comprising:
- a settlement processor;
at least one coordinator;
a plurality of databases;
and at least one active grid element;
the settlement processor for market-based financial settlements comprising a server and/or a processor, constructed and connected via a network-based communication with a network with the at least one coordinator;
wherein the coordinator(s) is constructed and connected via a network-based communication with the at least one active grid element that is registered to participate within the electric power grid;
said coordinator routing messages from the at least one active grid element through the network connecting to the plurality of databases and wherein servers operating the databases exchange information associated with the at least one active grid element;
a memory including instructions that when executed by the settlement processor performs the steps of;
automatically generating a communication relating to each of the active grid element(s) using revenue grade metrology including a market-based financial settlement based upon a market price;
determining the market price based on settlement and participation data for the at least one active grid element participation including electricity supply and electricity demand curtailment as supply at the active grid element location for a time interval, wherein the participation comprises the at least one active grid element communicating said participation data to the coordinator via the network in real-time; and
providing the market-based financial settlement corresponding to the active grid element participation in the time interval of less than about 15 minutes.
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Accused Products
Abstract
Systems, methods, and apparatus embodiments for electric power grid and network registration and management of physical and financial settlement for participation of active grid elements in supply and/or curtailment of power. Settlement is provided for grid elements that participate in the electric power grid following initial registration of each grid element with the system, preferably through network-based communication between the grid elements and a coordinator, either in coordination with or outside of an IP-based communications network router. A multiplicity of active grid elements function in the grid for supply capacity, supply and/or load curtailment as supply or capacity, and are compensated through settlement for their functional participation in the electric power grid. Also, messaging related to settlement is managed through a network by a Coordinator using IP messaging for communication with the grid elements, with the energy management system (EMS), and with the utilities, market participants, and/or grid operators.
389 Citations
57 Claims
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1. A system for market-based financial settlement of transactions within an electric power grid network comprising:
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a settlement processor; at least one coordinator; a plurality of databases; and at least one active grid element; the settlement processor for market-based financial settlements comprising a server and/or a processor, constructed and connected via a network-based communication with a network with the at least one coordinator; wherein the coordinator(s) is constructed and connected via a network-based communication with the at least one active grid element that is registered to participate within the electric power grid; said coordinator routing messages from the at least one active grid element through the network connecting to the plurality of databases and wherein servers operating the databases exchange information associated with the at least one active grid element; a memory including instructions that when executed by the settlement processor performs the steps of; automatically generating a communication relating to each of the active grid element(s) using revenue grade metrology including a market-based financial settlement based upon a market price; determining the market price based on settlement and participation data for the at least one active grid element participation including electricity supply and electricity demand curtailment as supply at the active grid element location for a time interval, wherein the participation comprises the at least one active grid element communicating said participation data to the coordinator via the network in real-time; and providing the market-based financial settlement corresponding to the active grid element participation in the time interval of less than about 15 minutes. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57)
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Specification