Forward-looking transactive pricing schemes for use in a market-based resource allocation system

• US 9,269,108 B2
• Filed: 03/18/2013
• Issued: 02/23/2016
• Est. Priority Date: 04/28/2011
• Status: Active Grant

• Current Assignee: Battelle Memorial Institute
• Original Assignee: Battelle Memorial Institute
• Inventors: Chassin, David P., Fuller, Jason C., Pratt, Robert G., Kumar, Nirupama Prakash, Fisher, Andrew R.
• Primary Examiner(s): Khattar, Rajesh
• Application Number:
  US13/846,644
• Publication Number:
  US 20130218744A1
• Time in Patent Office: 1,072 Days
• US Class Current: 1/1
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

Disclosed herein are representative embodiments of methods, apparatus, and systems for distributing a resource (such as electricity) using a resource allocation system. One of the disclosed embodiments is a method for generating a bid value for purchasing electricity in a market-based resource allocation system. In this embodiment, a desired performance value indicative of a user'"'"'s desired performance level for an electrical device is received. Price information from an electricity futures market is received. A bid value for purchasing electricity from a local resource allocation market sufficient to operate the electrical device at the desired performance level is computed. In this embodiment, the computing is performed based at least in part on the desired performance value and based at least in part on the price information from the electricity futures market.

Claims

1. A method for generating an offer value for offering to supply electricity in a market-based resource allocation system, comprising:

computing, by computing hardware, an offer value indicative of a value at which electricity can be supplied by a generator for a current or next upcoming time frame, the offer value being based at least in part on dispatched index value information from an electricity futures market, such that the dispatched index value information from the electricity futures market is a factor in the computation of the offer value;

submitting, by the computing hardware, the offer value along with a value indicative of a quantity of electricity that can be supplied by the generator during the current or the next upcoming time frame to a central computer that controls the resource allocation system;

receiving, by the computing hardware, from the the central computer a dispatched index value for the current or upcoming time frame, the dispatched index value being based at least in part on the submitted offer value;

comparing, by the computing hardware, the dispatched index value to the submitted offer value; and

activating or deactivating, by the computing hardware, the generator based on the comparison.

2. The method of claim 1, wherein the electricity futures market is a day-ahead electricity market.

3. The method of claim 1, wherein the dispatched index value information comprises cleared prices associated with the electricity futures market, and wherein the computing of the offer value is performed using an average of the cleared prices from the electricity futures market and a standard deviation of the cleared prices from the electricity futures market.

4. The method of claim 3, further comprising computing the average and the standard deviation with the computing hardware or receiving the average and the standard deviation from a remote source.

5. The method of claim 1, wherein the computing of the offer value is performed based at least in part on historical dispatched index values for electricity from the electricity futures market and at least in part on historical dispatched index values from the local resource allocation market.

6. The method of claim 5, wherein the computing of the offer value is performed based at least in part on one or more weighted sums computed from the historical dispatched index values from the electricity futures market and the historical dispatched index values from the local resource allocation market.

7. The method of claim 6, wherein one or more of the weighted sums are controlled by a variable weighting factor.

8. One or more non-transitory computer-readable media storing computer-executable instruction which when executed by a computer cause the computer to perform a method for generating an offer value for offering to supply electricity in a market-based resource allocation system, the method comprising:

computing an offer value indicative of a value at which electricity can be supplied by a generator for a current or next upcoming time frame, the offer value being based at least in part on dispatched index value information from an electricity futures market, such that the dispatched index value information from the electricity futures market is a factor in the computation of the offer value;

submitting the offer value along with a value indicative of a quantity of electricity that can be supplied by the generator during the current or the next upcoming time frame to a central computer that controls the resource allocation system;

receiving from the central computer a dispatched index value for the current or upcoming time frame, the dispatched index value being based at least in part on the submitted offer value;

comparing the dispatched index value to the submitted offer value; and

activating or deactivating the generator based on the comparison.

10. The computer-readable media of claim 8, wherein the electricity futures market is a day-ahead electricity market.

11. The computer-readable media of claim 8, wherein the dispatched index value information comprises cleared prices associated with the electricity futures market, and wherein the computing of the offer value is performed using an average of the cleared prices from the electricity futures market and a standard deviation of the cleared prices from the electricity futures market.

12. The computer-readable media of claim 11, wherein the method further comprises computing the average and the standard deviation with the computing hardware or receiving the average and the standard deviation from a remote source.

13. The computer-readable media of claim 8, wherein the computing of the offer value is performed based at least in part on historical dispatched index values for electricity from the electricity futures market and at least in part on historical dispatched index values from the local resource allocation market.

14. The computer-readable media of claim 13, wherein the computing of the offer value is performed based at least in part on one or more weighted sums computed from the historical dispatched index values from the electricity futures market and the historical dispatched index values from the local resource allocation market.

15. The computer-readable media of claim 14, wherein one or more of the weighted sums are controlled by a variable weighting factor.

9. A system comprising memory and a processor programmed to generate an offer value for offering to supply electricity in a market-based resource allocation system, the processor programmed to:

compute an offer value indicative of a value at which electricity can be supplied by a generator for a current or next upcoming time frame, the offer value being based at least in part on dispatched index value information from an electricity futures market, such that the dispatched index value information from the electricity futures market is a factor in the computation of the offer value;

submit the offer value along with a value indicative of a quantity of electricity that can be supplied by the generator during the current or the next upcoming time frame to a central computer that controls the resource allocation system;

receive from the central computer a dispatched index value for the current or upcoming time frame, the dispatched index value being based at least in part on the submitted offer value;

compare the dispatched index value to the submitted offer value; and

activate or deactivate the generator based on the comparison.