System, method, and apparatus for settlement for participation in an electric power grid

A method for generating a settlement message for electric power grid transactions comprising steps of:

• providing at least one grid element, a settlement processor, and a database;
• the at least one grid element creating revenue grade metrology by measuring a participation of the at least one grid element in an electric power grid, the participation including supplying power, consuming power and/or curtailing power consumption;
• the at least one grid element sending the revenue grade metrology to the settlement processor;
• the settlement processor transforming the revenue grade metrology into settlement grade data;
• the settlement processor receiving a time-based market rate from the database;
• the settlement processor creating at least one kilowatt packet (KWP) unit using the settlement grade data and the time-based market rate;
• the settlement processor automatically generating the settlement message including an internet protocol (IP) packet including the at least one KWP unit;
• wherein the at least one KWP unit comprises measured data transformed into settlement grade data for market financial settlement for load, supply, and/or curtailment corresponding to each of the active grid element(s) participation in the electric power grid for load or supply;
• and
• wherein the at least one KWP unit provides a quantifying market rate for monetization for any unit of kilowatts with respect to time.

A method for generating a settlement message for electric power grid transactions comprising steps of:

• providing at least one grid element, a settlement processor, and a database;
• the at least one grid element creating revenue grade metrology by measuring a participation in an electric power grid, the revenue grade metrology including supplying power, consuming power and/or curtailing power consumption;
• the at least one grid element sending the revenue grade metrology to the settlement processor over a network;
• the settlement processor transforming the revenue grade metrology into settlement grade data;
• the settlement processor receiving a time-based market rate from the database;
• the settlement processor creating a settlement message including an internet protocol (IP) packet having information required for generating a market-based financial settlement for participation for supplying power, consuming power and/or curtailing power consumption;
• wherein the IP packet further includes at least one kilowatt packet (KWP) unit, wherein the at least one kilowatt packet (KWP) unit is created using the settlement grade data and the time-based market rate;
• wherein the at least one KWP unit comprises measured data transformed into settlement grade data for market financial settlement for load and/or supply corresponding to each of the active grid element(s) participation in the electric power grid for load, supply, and/or curtailment;
• and
• wherein the at least one KWP unit provides a quantifying market rate for monetization for any unit of kilowatts with respect to time.

A method for generating a settlement message for electric power grid transactions comprising steps of:

• providing at least one grid element, a settlement processor, and a database;
• the at least one grid element creating revenue grade metrology by measuring a participation in an electric power grid, the revenue grade metrology including supplying power, consuming power and/or curtailing power consumption;
• the at least one grid element sending the revenue grade metrology to the settlement processor over a network;
• the settlement processor initiating transformation of the revenue grade metrology into settlement grade data;
• the settlement processor receiving a time-based market rate from the database;
• the settlement processor creating at least one kilowatt packet (KWP) unit using the settlement grade data and the time-based market rate;
• the settlement processor automatically generating an internet protocol (IP) packet including the settlement message and the at least one KWP unit;
• wherein the IP packet includes information required for generating a market-based financial settlement for participation for supplying power, consuming power, and/or curtailing power consumption;
• wherein the at least one KWP unit comprises measured data transformed into settlement grade data for market financial settlement for supplying power, consuming power and/or curtailing power consumption;
• and
• wherein the at least one KWP unit provides a quantifying market rate for monetization for any unit of kilowatts with respect to time.