Patent ID: 7337153

Claim:
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: providing a plurality of imbalance market user interfaces, each imbalance market user interface configured for receiving from a plurality of imbalance market participants,—including generating participants and load participants in an energy distribution region subdivided into a plurality of different control areas, energy supply and energy demand requirements for imbalance energy in an energy imbalance market; retrieving said energy supply and energy demand requirements for imbalance energy from said plurality of imbalance market user interfaces; determining respective control area imbalance requirements for balancing generation and load imbalances in each of the control areas in the energy distribution region according to the following relationship: ImbReq = LF - ∑ stp ⁢ ⁢ ∑ mp ⁢ ⁢ SchedE - ACE + ImbBias - ImbCA ; wherein ImbReq is the respective control area imbalance requirement, LF is a load forecast for the respective control area, SchedE is a scheduled energy distribution according to a bilateral energy trading market; mp is unique identifier for each market participant, stp is an identifier for a type of market participant, ACE is a prior average area control error for the respective control area, ImbBias is a temporal imbalance bias for the respective control area, and ImbCA is a temporal imbalance callable reserve for the respective control area; determining a region imbalance requirement for balancing generation and load imbalances in the energy distribution region responsive to the respective control area imbalance requirements; determining optimal dispatch of energy generation and energy load for each imbalance market participant responsive to the energy distribution region imbalance requirement; and issuing dispatch instructions responsive to the optimal dispatch of energy generation and energy load to each imbalance market participant.