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

Abstract

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.

Inventors:
;
Issue Date:
Research Org.:
Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)
Sponsoring Org.:
USDOE
OSTI Identifier:
1179005
Patent Number(s):
9,026,473
Application Number:
13/965,049
Assignee:
Battelle Memorial Institute (Richland, WA)
DOE Contract Number:  
AC05-76RL01830
Resource Type:
Patent
Resource Relation:
Patent File Date: 2013 Aug 12
Country of Publication:
United States
Language:
English
Subject:
24 POWER TRANSMISSION AND DISTRIBUTION

Citation Formats

Chassin, David P, and Pratt, Robert G. Using bi-directional communications in a market-based resource allocation system. United States: N. p., 2015. Web.
Chassin, David P, & Pratt, Robert G. Using bi-directional communications in a market-based resource allocation system. United States.
Chassin, David P, and Pratt, Robert G. Tue . "Using bi-directional communications in a market-based resource allocation system". United States. https://www.osti.gov/servlets/purl/1179005.
@article{osti_1179005,
title = {Using bi-directional communications in a market-based resource allocation system},
author = {Chassin, David P and Pratt, Robert G},
abstractNote = {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.},
doi = {},
journal = {},
number = ,
volume = ,
place = {United States},
year = {2015},
month = {5}
}

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