Patent ID: 7324977
Filing Date: 2008-01-29
Classification: G05B,G06Q,H02J,Y02B,Y04S

Abstract:
1. A computer readable medium having computer readable instructions embedded therein, which, when executed by a computer, cause the computer to implement a method for adjusting energy generation and energy load in an energy imbalance market to remedy energy generation and energy load imbalances therein, comprising: receiving from a plurality of imbalance market participants, including energy generating participants and energy-consuming load participants, energy supply and energy demand requirements for imbalance energy in an energy imbalance market; archiving historical bidding data from said imbalance market participants; collecting control area analog measurements; determining optimal dispatch of energy generation and energy load for each imbalance market participant for balancing generation and load imbalances in the imbalance market corresponding to said energy supply and energy demand requirements, said historical bidding data; and said control area analog measurements; and determining ex post settlement prices for the imbalance market participants corresponding to the optimal dispatch according to the relationship: wherein BP mp T is a settlement billing price for imbalance market participant mp for a time period T, IncMW t and DecMW t are the incremental and decremental balancing energies, respectively, during a time interval t of the time period T, and BP using the ex post settlement prices to settle with the imbalance market participants.