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:
- 1214121
- Patent Number(s):
- 9,129,337
- Application Number:
- 13/964,996
- 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/1214121.
@article{osti_1214121,
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 = {9}
}
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