Patent ID: 8996419
Filing Date: 2015-03-31
Classification: B60L,G05D,G06Q,G07F,H02J,H04L,Y02E,Y02P,Y02T,Y04S

Abstract:
1. A system for market-based settlement of transactions within an electric power grid network comprising: a settlement processor; at least one coordinator; and at least one active grid element; the settlement processor for market-based financial settlements comprises 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 the at least one active grid element; each of the at least one active grid element is registered to participate within the electric power grid; the at least one active grid element communicates with at least one coordinator via the network in real-time or in a predetermined timeframe; each of the at least one active grid element provides automated messaging to the settlement processor; the settlement processor provides automated messaging used for a market-based financial settlement based upon revenue grade metrology data generated by the at least one active grid element from a participation in an electric power grid and a kilowatt packet (KWP) unit; and each KWP unit provides a quantifying market rate for monetization for any unit of kilowatts with respect to time.