System, method, and apparatus for settlement for participation in an electric power grid
First Claim
1. A system for market-based settlement of transactions within an electric power grid network comprising:
- a settlement processor for market-based financial settlements comprising 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 active grid element;
wherein each active grid element is registered to participate within the electric power grid; and
wherein the settlement processor provides automated messaging used for a market-based financial settlement based upon revenue grade metrology data and a kilowatt packet (KWP) unit;
wherein each KWP unit provides a quantifying market rate for monetization for any unit of kilowatts with respect to time.
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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.
48 Citations
24 Claims
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1. A system for market-based settlement of transactions within an electric power grid network comprising:
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a settlement processor for market-based financial settlements comprising 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 active grid element; wherein each active grid element is registered to participate within the electric power grid; and wherein the settlement processor provides automated messaging used for a market-based financial settlement based upon revenue grade metrology data and a kilowatt packet (KWP) unit; wherein each KWP unit provides a quantifying market rate for monetization for any unit of kilowatts with respect to time. - 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)
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Specification