System, method, and apparatus for settlement for participation in an electric power grid
Systems, methods, and apparatus embodiments for electric power grid and network registration and management of physical and financial settlement for participation of active grid elements in supply and/or curtailment of power, wherein Internet Protocol (IP)-based messages including IP packets are generated by transforming raw data content into settlement grade content. Settlement is provided for grid elements that participate in the electric power grid following initial registration of each grid element with the system, preferably through network-based communication between the grid elements and a coordinator, either in coordination with or outside of an IP-based communications network router. Messaging related to settlement is managed through a network by a Coordinator using IP messaging for communication with the grid elements, with the energy management system (EMS), and with the utilities, market participants, and/or grid operators.
1. A system for market-based financial settlement of transactions within a power network, comprising:
a settlement processor in network communication with at least one grid element in the power network;
wherein the at least one grid element is operable to participate in the power network by supplying power to the power network, providing curtailment as supply, and/or consuming power from the power network;
wherein the at least one grid element is operable to transmit a settlement message via Internet Protocol (IP)-based messaging to the settlement processor in real-time or within approximately 15 minutes after the participation of the at least one grid element in the power network;
wherein the settlement message comprises an IP packet including at least one kilowatt packet (KWP) unit based on revenue grade metrology data associated with the participation of the at least one grid element in the power network, wherein the at least one KWP unit includes the revenue grade metrology data transformed into settlement data and provides a quantifying market rate for monetization for any unit of kilowatts with respect to time;
wherein the settlement processor is operable to provide a market-based financial settlement for the at least one grid element based on the at least one KWP unit.
2. The system of claim 1 , wherein each of the at least one grid element is operable to generate at least one Power Supply Value (PSV) representing a supply equivalence based on a reduction of power consumption by the at least one grid element confirmed by measurement and verification.
3. The system of claim 2 , wherein the settlement message further comprises the at least one PSV.
4. The system of claim 2 , wherein the settlement processor is operable to aggregate the at least one PSV to form a power trading block (PTB).
5. The system of claim 1 , wherein the revenue grade metrology data includes measured data that provide a higher rate for settlement compared with a projected, an estimated, or a Validation, Estimating and Editing (VEE) rate.
6. The system of claim 1 , wherein the settlement message further comprises a geodetic reference, an element identifier, a grid element type, a grid element function, a grid element capacity, a grid element profile, a grid element attachment point reference, a grid element balancing authority association, a grid element owner identifier, and a grid element compatibility identifier.
7. The system of claim 1 , wherein the settlement message further comprises a delivery priority based on priority access flags, virtual private networks, independent identifying addresses, manufacturer specific identifying codes, or combinations thereof.
8. The system of claim 7 , wherein the independent identifying addresses are selected from the group consisting of Electronic Serial Numbers (ESN), International Manufacturer Equipment Identifiers (IMEI), and Media Access Control (MAC) addresses.
9. The system of claim 1 , wherein the settlement processor is operable to provide the market-based financial settlement for the at least one grid element at one or more resource settlement points.
10. The system of claim 9 , wherein the one or more resource settlement points are dynamic.
11. The system of claim 9 , wherein the one or more resource settlement points are virtual.
12. The system of claim 9 , wherein the one or more resource settlement points are determined by a governing entity.
13. The system of claim 1 , wherein the at least one grid element acts as a master grid element, wherein a multiplicity of grid elements is aggregated through the at least one grid element, and wherein the participation of the at least one grid element represents an aggregate participation of the multiplicity of grid elements for settlement purposes.
14. A system for market-based financial settlement of transactions within a power network, comprising:
a settlement processor in network communication with at least one grid element in the power network via at least one coordinator;
wherein the at least one coordinator is operable to register the at least one grid element for participation in the power network;
wherein the at least one grid element is operable to participate in the power network by supplying power to the power network, providing curtailment as supply, and/or consuming power from the power network;
wherein the at least one grid element is operable to transmit a settlement message based on Internet Protocol (IP)-based messaging to the settlement processor via the at least one coordinator in real-time or within approximately 15 minutes after the participation of the at least one grid element in the power network;
wherein the settlement message comprises an IP packet including at least one kilowatt packet (KWP) unit based on revenue grade metrology data associated with the participation of the at least one grid element in the power network, wherein the at least one KWP unit includes the revenue grade metrology data transformed into settlement data and provides a quantifying market rate for monetization for any unit of kilowatts with respect to time;
wherein the settlement processor is operable to provide a market-based financial settlement for the at least one grid element based on the at least one KWP unit.
15. The system of claim 14 , wherein the at least one coordinator is operable to obtain a market price at the time of the participation of the at least one grid element in the power network via network communication with a power market in real time.
16. The system of claim 14 , wherein the at least one coordinator is operable to transform the revenue grade metrology data from the participation of the at least one grid element in the power network into the settlement data.
17. The system of claim 14 , further comprising at least one database operable for storing the settlement data.
18. A method for market-based financial settlement of transactions within a power network, comprising:
providing a settlement processor in network communication with at least one grid element in the power network;
the at least one grid element participating in the power network by supplying power to the power network, curtailing power consumption as supply, and/or consuming power from the power network;
the at least one grid element transmitting a settlement message based on Internet Protocol (IP)-based messaging to the settlement processor in real-time or within approximately 15 minutes after the participation of the at least one grid element in the power network, wherein the settlement message comprises an IP packet including at least one kilowatt packet (KWP) unit based on revenue grade metrology data associated with the participation of the at least one grid element in the power network, wherein the at least one KWP unit includes the revenue grade metrology data transformed into settlement data and provides a quantifying market rate for monetization for any unit of kilowatts with respect to time; and
the settlement processor providing a market-based financial settlement for the at least one grid element based on the at least one KWP unit.
19. The method of claim 18 , further comprising at least one coordinator registering the at least one grid element to the power network and routing the settlement message to the settlement processor.
20. The method of claim 19 , further comprising the at least one coordinator transforming the revenue grade metrology data from the participation of the at least one grid element in the power network into the settlement data.