US6115698A
Expired / Lapsed
US
⏱️ 0.0 years remaining
Apparatus and method for trading electric energy
Assignee: Acacia Research Group LLC
•
Filing: 1995-08-18
•
Granted: 2000-09-05
•
Expires: 2015-08-18
Abstract
Abstract Electric energy can be traded between connected participants such as utility companies. The present method provides a common marketplace which provides participants the ability to display both buy and sell offers to the other participants. The marketplace also allows the participants to consummate a transaction for a quantity of electrical energy. The method further allows the participants to curtail transactions and the delivery of the electrical energy if necessary.
Inventors
- 👤 David Tuck
- 👤 Bruce Weier
- 👤 John Stojka
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-10-31 06:41
CPC Classifications
G; G06; G06Q; G06Q40/00; G06Q40/04
Claims Analysis
Total Claims: 29
Claim 1
Independent Claim
69 words
A method of selling a quantity of electric energy between at least two participants, said method comprising the steps of: (a) connecting a first participant to a database display; (b) connecting a second participant to the database display; (c) displaying a price for the quantity of electrical energy; (d) consummating a transaction between the participants for the quantity of electrical energy; and (e) curtailing the transaction between the participants.
Claim 2
Independent Claim
69 words
A method of selling a quantity of electric energy between at least two participants, said method comprising the steps of: (a) connecting a first participant to a database display; (b) connecting a second participant to the database display; (c) displaying a price for the quantity of electrical energy; (d) consummating a transaction between the participants for the quantity of electrical energy; and (e) curtailing the transaction between the participants.
Claim 3
Independent Claim
74 words
A method of selling a quantity of electric energy between at least two participants, said method comprising the steps of: (a) connecting a first participant to a database display; (b) connecting a second participant to the database display; (c) displaying a price for the quantity of electrical energy; (d) computing a performance index associated with a reliability for either participant; and (e) displaying a reliability indicator associated with any offer to sell electric energy.
Claim 4
Independent Claim
74 words
A method of selling a quantity of electric energy between at least two participants, said method comprising the steps of: (a) connecting a first participant to a database display; (b) connecting a second participant to the database display; (c) displaying a price for the quantity of electrical energy; (d) computing a performance index associated with a reliability for either participant; and (e) displaying a reliability indicator associated with any offer to sell electric energy.
Claim 5
Independent Claim
80 words
A method of selling a quantity of electric energy between at least two participants, said method comprising the steps of: (a) connecting a first participant to a database display; (b) connecting a second participant to the database display; and (c) displaying a price for the quantity of electrical energy for next hour offers; (d) displaying the next hour offers during the current hour; and (e) stopping the consummation of next hour transactions at a predetermined time during the current hour.
Claim 6
Independent Claim
80 words
A method of selling a quantity of electric energy between at least two participants, said method comprising the steps of: (a) connecting a first participant to a database display; (b) connecting a second participant to the database display; and (c) displaying a price for the quantity of electrical energy for next hour offers; (d) displaying the next hour offers during the current hour; and (e) stopping the consummation of next hour transactions at a predetermined time during the current hour.
Claim 7
Independent Claim
115 words
A method for facilitating the trading of units of electrical energy in a data processing system, the method comprising the computer-implemented steps of: (a) receiving an offer to buy a quantity of units; (b) receiving an offer to sell a quantity of units; (c) storing a list of transaction conditions wherein said list comprises: (i) a parameter associated with a quantity of units that can be physically delivered wherein said parameter is a limit on an electrical energy unit transmission capacity; (ii) a parameter associated with a contractual agreement between at least one or more buyer and seller participants; and (d) facilitating a trade transaction for units of electrical energy if transaction conditions are satisfied.
Claim 8
Independent Claim
115 words
A method for facilitating the trading of units of electrical energy in a data processing system, the method comprising the computer-implemented steps of: (a) receiving an offer to buy a quantity of units; (b) receiving an offer to sell a quantity of units; (c) storing a list of transaction conditions wherein said list comprises: (i) a parameter associated with a quantity of units that can be physically delivered wherein said parameter is a limit on an electrical energy unit transmission capacity; (ii) a parameter associated with a contractual agreement between at least one or more buyer and seller participants; and (d) facilitating a trade transaction for units of electrical energy if transaction conditions are satisfied.
Claim 9
Dependent Claim
15 words
The method of claim 4 further comprising: (e) curtailing the trade transaction between transaction participants.
Claim 10
Dependent Claim
17 words
The method of claim 4 further comprising: (e) computing a performance index associated with the trade transaction.
Claim 11
Dependent Claim
29 words
The method of claim 6, wherein computing the performance index for the trade transaction is based upon a performance index associated with a buyer, a seller, or a wheeler.
Claim 12
Dependent Claim
21 words
The method of claim 7, wherein a performance index for a party to a transaction is based upon historical transaction data.
Claim 13
Dependent Claim
23 words
The method of claim 4 further comprising: (e) determining a path of delivery of said units through a wheeler for said trade transactions.
Claim 14
Dependent Claim
21 words
The method of claim 4 further comprising: (e) informing a buyer and a seller of a consummation of the trade transaction.
Claim 15
Dependent Claim
21 words
The method of claim 4 further comprising: (e) clearing a payment obligation for the trade transaction through an electronic settlement process.
Claim 16
Dependent Claim
22 words
The method of claim 4 further comprising: (e) informing a buyer and a seller of a scheduling obligation for the trade transaction.
Claim 17
Dependent Claim
20 words
The method of claim 4 wherein step (c) (i) is stored if the buyer and seller are at different points.
Claim 18
Dependent Claim
21 words
The method of claim 4 wherein step (c) (i) is not stored if buyer and seller are at the same point.
Claim 19
Dependent Claim
20 words
The method of claim 4 wherein step (c) (i) is not stored if the units are at the same point.
Claim 20
Dependent Claim
110 words
A data processing system for use in facilitating the trading of units of electrical energy in a data processing system, the system comprising: (a) means for receiving an offer to buy a quantity of units; (b) means for receiving an offer to sell a quantity of units; (c) means for storing a list of transaction conditions wherein said list comprises: (i) a parameter associated with a quantity of units that can be physically delivered wherein said parameter is a limit on an electrical energy unit transmission capacity; (ii) a parameter associated with a contractual agreement between at least one or more buyer and seller participants; and transaction conditions are satisfied.
Claim 21
Dependent Claim
110 words
A data processing system for use in facilitating the trading of units of electrical energy in a data processing system, the system comprising: (a) means for receiving an offer to buy a quantity of units; (b) means for receiving an offer to sell a quantity of units; (c) means for storing a list of transaction conditions wherein said list comprises: (i) a parameter associated with a quantity of units that can be physically delivered wherein said parameter is a limit on an electrical energy unit transmission capacity; (ii) a parameter associated with a contractual agreement between at least one or more buyer and seller participants; and transaction conditions are satisfied.
Claim 22
Dependent Claim
17 words
The system of claim 16 further comprising: (e) means for curtailing the trade transaction between transaction participants.
Claim 23
Dependent Claim
19 words
The system of claim 16 further comprising: (e) means for computing a performance index associated with the trade transaction.
Claim 24
Dependent Claim
29 words
The system of claim 18, wherein computing the performance index for the trade transaction is based upon a performance index associated with a buyer, a seller, or a wheeler.
Claim 25
Dependent Claim
21 words
The system of claim 18, wherein a performance index for a party to a transaction is based upon historical transaction data.
Claim 26
Dependent Claim
25 words
The system of claim 16 further comprising: (e) means for determining a path of delivery of said units through a wheeler for said trade transactions.
Claim 27
Dependent Claim
23 words
The method of claim 16 further comprising: (e) means for informing a buyer and a seller of a consummation of the trade transaction.
Claim 28
Dependent Claim
23 words
The method of claim 16 further comprising: (e) means for clearing a payment obligation for the trade transaction through an electronic settlement process.
Claim 29
Dependent Claim
24 words
The method of claim 16 further comprising: (e) means for informing a buyer and a seller of a scheduling obligation for the trade transaction.
References Cited (Backward Citations)
US3173002A
Cited
US3229110A
Cited
US3932735A
Cited
US3683161A
Cited
US3719809A
Cited
US3740572A
Cited
US3913829A
Cited
US4320306A
Cited
US4568934A
Cited
US5297031A
Cited
US5237507A
Cited
US5375055A
Cited
US5394324A
Cited
US5592375A
Cited
US5621654A
Cited
USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 2003-09-05 | 2004-03-06 | 2004-09-05 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 2007-09-05 | 2008-03-06 | 2008-09-05 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2011-09-05 | 2012-03-06 | 2012-09-05 | $7700.00 | Window Closed / Lapsed |