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Title: Electric power grid control using 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:
1195931
Patent Number(s):
9,087,359
Application Number:
14/166,662
Assignee:
Battelle Memorial Institute (Richland, WA)
DOE Contract Number:  
AC05-76RL01830
Resource Type:
Patent
Resource Relation:
Patent File Date: 2014 Jan 28
Country of Publication:
United States
Language:
English
Subject:
24 POWER TRANSMISSION AND DISTRIBUTION; 97 MATHEMATICS AND COMPUTING

Citation Formats

Chassin, David P. Electric power grid control using a market-based resource allocation system. United States: N. p., 2015. Web.
Chassin, David P. Electric power grid control using a market-based resource allocation system. United States.
Chassin, David P. Tue . "Electric power grid control using a market-based resource allocation system". United States. https://www.osti.gov/servlets/purl/1195931.
@article{osti_1195931,
title = {Electric power grid control using a market-based resource allocation system},
author = {Chassin, David P.},
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 = {7}
}

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