System and method for gathering and performing complex analyses on power data from multiple remote sources

Abstract

The invention encompasses data analytics, and more specifically, encompasses the efficient gathering and management of data, and the execution of data analysis solutions on complex power and pricing.

Description

[0001]This application is a continuation of U.S. patent application Ser. No. 12 / 399,682, filed on Mar. 6, 2009, which claims the benefit of priority to U.S. provisional patent application No. 61 / 064,483, filed on Mar. 7, 2008, both of which are incorporated herein by reference in their entirety.FIELD OF THE INVENTION[0002]The invention encompasses data analytics, and more specifically, encompasses the efficient gathering and management of data, and the execution of data analysis solutions on complex power and pricing.DISCUSSION OF THE RELATED ART[0003]In the power trading markets, power traders demand accurate, powerful, robust, and reliable data analysis systems. Power markets are comprised of Independent System Operators (ISO) and Regional Transmission Organizations (RTO), each of which is responsible for a specific geographical region that receives power transmission from one or more power generators. Each ISO / RTO is comprised of one or more regional power market, which can be co...

AI Technical Summary

Benefits of technology

Enables powerful, efficient, and robust power data management and analysis, allowing traders to make confident trades and develop strategies by providing comprehensive reports and insights into causal factors affecting power markets.

Problems solved by technology

As for the operation of the actual power generation markets, which significantly affects the decisions made by power traders as well as the trading positions they choose to exercise, power generation may become disrupted in real time due to multiple factors.

These factors taken in the aggregate, or individually, can easily disrupt the power grid.

However, current data analysis systems that are tailored towards power traders for use in the power or energy trading markets only offer very limited data analysis capabilities.

First, current data analysis systems do not make use of the full set of available power and price data.

Moreover, these systems operate in a static manner and do not support dynamic data gathering, management, and analysis methodologies.

Second, current data analysis systems also do not have the capability to gather, manage, and analyze data such that certain cause and effect scenarios can be determined accurately.

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