IP Library Granted Patent US 8,688,506
Granted Patent B2
US 8,688,506 · App. 11/856,001 · Granted Apr 1, 2014

Determining tailored pricing for retail energy market

Inventors: Deryl K. Brown (Southlake, TX); Michael R. Brannan (Lewisville, TX); Daniel Marzuola (Dallas, TX); Charles D. Hewitt (Colleyville, TX)
Assignee: Hudson Energy Services LLC
G06Q30/0206G06Q30/0283G06Q30/06
View Patent ↗
Loading inventors, assignments & file history…
Monitor This Case
Get email alerts when status or documents change.
Order Certified Copies
Most orders are placed with the USPTO same day — all within 24 business hours.
Order via The Patent Place →
Pre-filled with this patent's details
Quick Facts
Patent No.
US 8,688,506
App. No.
11/856,001
Granted
Apr 1, 2014
Kind
B2
Abstract

A method of pricing energy includes determining a price for supplying energy to a consumer over a future term based on at least a forecasted cost of energy and a forecasted energy usage of the consumer. The method further includes automatically determining an updated price for supplying energy based on at least the forecasted energy usage of the consumer used in initially determining the price. The method further includes outputting the updated price for supplying energy.

Claims (55)

1. A computerized method of pricing energy, the method comprising the following steps performed by one or more processors:

determining, by at least one processor, a first contract price offering for supplying energy to a consumer over a future term based on at least a forecasted cost of energy to be supplied over the future term and a forecasted energy usage of the consumer during the future term;

receiving, prior to acceptance of the contract price offering, an updated forecasted cost of energy to be supplied over the future term;

automatically in response to receiving the updated forecasted cost of energy to be supplied over the future term, determining, by at least one processor, an updated contract price offering for supplying energy to be supplied over the future term based on at least the forecasted energy usage of the consumer during the future term used in determining the first contract price offering and the updated forecasted cost of energy to be supplied over the future term; and

outputting the updated contract price offering for supplying energy to the consumer over the future term.

2. The method of claim 1 , wherein determining the first contract price offering for supplying energy to a consumer over a future term is based on at least the forecasted cost of energy to be supplied over the future term, the forecasted energy usage of the consumer during the future term, and a margin; and

wherein determining the updated contract price offering for supplying energy to be supplied over the future term is based on the forecasted energy usage of the consumer used in determining the first contract price offering, the updated forecasted cost of energy to be supplied over the future term, and a changed margin.

3. The method of claim 1 , wherein the forecasted cost of energy to be supplied over the future term comprises both a forecasted raw cost of energy during the future term and a forecasted cost to provide the energy to the consumer during the future term.

4. The method of claim 1 , wherein automatically determining an updated contract price offering for supplying energy over the future term comprises determining an updated contract price offering for supplying energy over the future term without updating the forecasted energy usage over the future term.

5. The method of claim 1 , wherein determining the contract price offering for supplying energy over the future term comprises determining a fixed price per unit of energy over the future term.

6. The method of claim 1 , wherein determining the contract price offering for supplying energy over the future term comprises determining a hybrid price for supplying energy over the future term including a fixed price component having a fixed price per unit of energy over the future term and an indexed component having a price determined based on a market price of energy contemporaneous with consumption of the energy over the future term.

7. The method of claim 1 , further comprising:

receiving data representative of the consumer's energy usage;

automatically generating the forecasted energy usage of the consumer during the future term based on the consumer's energy usage; and

wherein determining the contract price offering for supplying energy to the consumer over the future term is performed automatically.

8. The method of claim 1 , wherein determining the contract price offering for supplying energy to a consumer over a future term based on at least a forecasted cost of energy to be supplied over the future term and a forecasted energy usage of the consumer during the future term further comprises determining a plurality of contract price offerings for supplying energy to the consumer over the future term, each contract price associated with a different pricing scenario; and

wherein automatically determining the updated contract price offering for supplying energy over the future term based on at least the forecasted energy usage of the consumer used in determining the first contract price further comprises automatically determining a plurality of updated contract price offerings for supplying energy to the consumer over the future term, each updated contract price associated with a different pricing scenario.

9. The method of claim 1 , wherein outputting the updated contract price offering for supplying energy over the future term comprises offering to contract to supply energy to the consumer over the future term at the updated price.

10. The method of claim 1 , wherein outputting the contract price offerings for supplying energy over the future term comprises:

generating a transactable energy contract for a particular consumer based at least on the automatically determined updated contract price offering for supplying energy over the future term; and

presenting the transactable energy contract to the particular consumer for immediate acceptance through a portal.

11. A system for pricing energy, comprising:

a pricing engine, including a hardware processor and a set of instructions, the instructions operable when executed by the hardware processor to:

determine a first contract price offering for supplying energy to a consumer over a future term based on at least a forecasted cost of energy to be supplied over the future term and a forecasted energy usage of the consumer during the future term;

receive, prior to acceptance of the contract price offering, an updated forecasted cost of energy to be supplied over the future term; and

automatically in response to receiving the updated forecasted cost of energy to be supplied over the future term, determine an updated contract price offering for supplying energy to be supplied over the future term based on at least the forecasted energy usage of the consumer during the future term used in determining the first contract price offering and the updated forecasted cost of energy to be supplied over the future term; and

an interface operable to output the first contract price offering for supplying energy to the consumer over the future term and the updated contract price offering for supplying energy over the future term.

12. The system of claim 11 , wherein the pricing engine is operable to:

determine the contract price offering for supplying energy to a consumer over a future term based on at least the forecasted cost of energy to be supplied over the future term, the forecasted energy usage of the consumer during the future term, and a margin; and

determine the updated contract price offering for supplying energy to the consumer over the future term based on the forecasted energy usage of the consumer used in determining the first contract price offering, the updated forecasted cost of energy to be supplied over the future term, and a changed margin.

13. The system of claim 11 , wherein the forecasted cost of energy to be supplied over the future term comprises both a forecasted raw cost of energy to be supplied over the future term and a forecasted cost to provide the energy to the consumer over the future term.

14. The system of claim 11 , wherein automatically updating the contract price offering for supplying energy over the future term comprises updating the contract price offering for supplying energy over the future term without updating the forecasted energy usage during the future term.

15. The system of claim 11 , wherein the pricing engine is further operable to:

receive data representative of the consumer's energy usage;

automatically generate the forecasted energy usage of the consumer during the future term based on the consumer's energy usage; and

automatically determine the contract price offering for supplying energy to the consumer over the future term.

16. The system of claim 11 , wherein the interface is operable to output the contract price offering for supplying energy over the future term as an executable contract to supply energy to the consumer over the future term at the updated price.

17. The system of claim 11 , wherein the pricing engine is further operable to automatically determine a plurality of contract price offerings for supplying energy over the future term, each price determined for a different energy consumer and based at least on a forecasted cost of energy supplied over the future term and a forecasted energy usage during the future term of the consumer.

18. The system of claim 11 , wherein the interface comprises a portal; and wherein the pricing engine is further operable to:

generate a transactable energy contract for a particular consumer based at least on the automatically determined updated contract price offering for supplying energy over the future term; and

present the transactable energy contract to the particular consumer for immediate acceptance through the portal.

19. A non-transitory computer readable media having instructions for a processor for performing operations comprising:

determining a contract price offering for supplying energy to a consumer over a future term based on at least a forecasted cost of energy and a forecasted energy usage of the consumer;

receiving an updated forecasted cost of energy;

automatically in response to receiving the updated forecasted cost of energy to be supplied over the future term, determining an updated contract price offering for supplying energy to be supplied over the future term based on at least the forecasted energy usage of the consumer used in determining the first contract price offering and the updated forecasted cost of energy to be supplied over the future term; and

outputting the contract price offering for supplying energy to the consumer over the future term and the updated contract price offering for supplying energy to the consumer over the future term.

20. The computer readable media of claim 19 , wherein the operations further comprise:

receiving data representative of the consumer's energy usage;

automatically generating the forecasted energy usage of the consumer during the future term based on the consumer's energy usage; and

automatically determining the contract price offering for supplying energy to the consumer over the future term.

21. The computer readable media of claim 19 , wherein the operations further comprise automatically determining a plurality of contract price offerings for supplying energy during the future term, each contract price offering determined for a different energy consumer and based at least on a forecasted cost of energy to be supplied over the future term and a forecasted energy usage during the future term of the consumer.

22. The computer readable media of claim 19 , wherein determining the contract price offering for supplying energy over the future term comprises determining a hybrid price for the contract price offering including a fixed price component having a fixed price per unit of energy over the term and an indexed component having a price determined based on a market price of energy contemporaneous with consumption of the energy.

23. The computer readable media of claim 19 , wherein outputting the contract price offering for supplying energy and the updated contract price offering for supplying energy comprises:

generating a transactable energy contract for a particular consumer based at least on the automatically determined updated contract price offering for supplying energy over the future term; and

presenting the transactable energy contract to the particular consumer for immediate acceptance through a portal.

Assignments (7)
RELEASE Recorded Jul 3, 2025
From: NATIONAL BANK OF CANADA, AS COLLATERAL AGENT
To: HUDSON ENERGY SERVICES LLC
Reel/Frame 071814/0851 →
SECURITY INTEREST Recorded Jul 1, 2025
From: HUDSON ENERGY SERVICES LLC
To: WELLS FARGO BANK, NATIONAL ASSOCIATION
Reel/Frame 071574/0685 →
CHANGE OF NAME Recorded Mar 1, 2019
From: CANADIAN IMPERIAL BANK OF COMMERCE
To: NATIONAL BANK OF CANADA, AS AGENT
Reel/Frame 048482/0851 →
RELEASE OF SECURITY INTEREST Recorded Mar 29, 2011
From: BP ENERGY COMPANY AND BP CORPORATION NORTH AMERICA INC.
To: HUDSON ENERGY SERVICES, LLC
Reel/Frame 026041/0261 →
SECURITY AGREEMENT Recorded Jan 27, 2011
From: HUDSON ENERGY SERVICES LLC
To: CANADIAN IMPERIAL BANK OF COMMERCE, AS COLLATERAL AGENT
Reel/Frame 025705/0120 →
SECURITY AGREEMENT Recorded Jun 4, 2009
From: HUDSON ENERGY SERVICES LLC
To: BP ENERGY COMPANY; BP CORPORATION NORTH AMERICA INC.
Reel/Frame 022782/0677 →
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Dec 28, 2007
From: BROWN, DERYL K.; BRANNAN, MICHAEL R.; MARZUOLA, DANIEL; HEWITT, CHARLES D.
To: HUDSON ENERGY SERVICES LLC
Reel/Frame 020297/0897 →
Continuity (3)
Provisional Application 60967036 · Aug 31, 2007
Provisional Application 60970932 · Sep 7, 2007
Related Publication 20090063367A1 · Mar 5, 2009