METHOD AND APPARATUS FOR BUNDLING TRANSMISSION RIGHTS AND ENERGY FOR TRADING

摘要

A method and apparatus for bundling transmission rights and energy for trading allows participants to enter bids for complete energy and transmission rights 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 that 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 that a set of bundles that participants wish to sell can be reassembled into a set 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 optimization system contracts orders for the bundles and performs the disassembly and reassembly. The invention provides a participant with an ex ante quote for any 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 participants 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.