Using bi-directional communications in a market-based resource allocation system

Chassin, David P; Pratt, Robert G

Using bi-directional communications in a market-based resource allocation system

Patent · 05 May 2015

OSTI ID:1179005

Chassin, David P; Pratt, Robert G

Disclosed herein are representative embodiments of methods, apparatus, and systems for distributing a resource (such as electricity) using a resource allocation system. In one exemplary embodiment, a plurality of requests for electricity are received from a plurality of end-use consumers. The requests indicate a requested quantity of electricity and a consumer-requested index value indicative of a maximum price a respective end-use consumer will pay for the requested quantity of electricity. A plurality of offers for supplying electricity are received from a plurality of resource suppliers. The offers indicate an offered quantity of electricity and a supplier-requested index value indicative of a minimum price for which a respective supplier will produce the offered quantity of electricity. A dispatched index value is computed at which electricity is to be supplied based at least in part on the consumer-requested index values and the supplier-requested index values.

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Research Organization:: Oak Ridge National Laboratory (ORNL), Oak Ridge, TN (United States)

Sponsoring Organization:: USDOE

DOE Contract Number:: AC05-76RL01830

Assignee:: Battelle Memorial Institute (Richland, WA)

Patent Number(s):: 9,026,473

Application Number:: 13/965,049

OSTI ID:: 1179005

Country of Publication:: United States

Language:: English

References (23)

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