METHOD AND APPARATUS FOR BUNDLING TRANSMISSION RIGHTS AND ENERGY FOR TRADING

摘要

A method and apparatus for bundling transmission rights and energy for tradi ng allows participants to enter bids for complete energy and transmission right s bundles that they wish to buy and offers for the complete bundles that they wish to sell through a user interface. An optimization system is provided th at continuously searches for ways to disassemble the bundles that participants wish to sell into their component elements (transmission rights and energy) and reassembles them into bundles that participants wish to buy. Any time th at a set of bundles that participants wish to sell can be reassembled into a se t of bundles that other customers wish to buy, and the aggregate bids for the new bundles exceeds the aggregate offers for the old bundles, the optimizati on system contracts orders for the bundles and performs the disassembly and reassembly. The invention provides a participant with an ex ante quote for a ny point-to-point transmission right at any time. An optimization system calculates this quote based on the standing bids and offers for other point- to- point transmission rights currently posted in the system by other participan ts or market makers. A participant that finds the quote attractive places an order at any time and is assured that the order will contract at the quoted price.