Patent ID: 8032461
Filing Date: 2011-10-04
Classification: G06Q,H04L

Abstract:
1. A method of facilitating, managing and coordinating operation of a competitive marketplace for an energy system comprising generating units using a communication network, the method comprising: receiving, by at least one processor of a system operator, bids from users for a predetermined time interval over the communication network, the bids comprising supply side bids for quantity and price of energy services; determining, by the system operator, a forecasted clearing price for predetermined time interval; receiving, by the system operator, data related to a real time condition for at least one of the generating units for the predetermined time interval that is different from at least one quantity of the supply side bids; adjusting, by the system operator, the supply side bids in response to the received data prior to dispatch of energy services for the predetermined time period; controlling dispatch, by the system operator, of the energy services for the predetermined time interval; and electronically calculating, by the system operator using the at least one processor and the adjusted supply side bids, a clearing price for the energy services dispatched for the predetermined time interval, the calculating of the clearing price being performed after dispatching the energy services in order to account for the data related to the real time condition for the at least one of the generating units, the clearing price being different from the forecasted clearing price.