Market Operations evaluates and prepares bids and then offers resources to the wholesale electricity market. They also prepare system demand bids for projected loads. To facilitate this process, Market Operations needs to know what supply resources such as traditional resources (hydro, fossil fuel, nuclear), distributed generation, or demand response, are available, for how long, and where they are physically located. In a system without SmartConnect metering to provide interval data for all customers, resource information must be estimated from the historical load profiles averaged from a small set of selected meters. The meters used to build the load profiles may or may not be the same meters involved in the wholesale market transaction. Using the SmartConnect system, Market Operations is able to access the actual aggregate load measured by a particular subset of the utility’s meters to target only those of interest. For instance, a particular subset of meters may represent a single customer offering to supply distributed generation (DG) over a particular time period for a contracted price, a grouping of agriculture water pumps, a collection of PHEV energy storage units, or a number of customers offering an aggregated resource through a third-party aggregator to reduce their load.
Using the SmartConnect system Market Operations is able to make better decisions about what supply resources to bid because SmartConnect measurements are:
• Made from a meter sample that more closely resembles that portion of the resource or load subject to the wholesale transaction
• Taken very near to the time the transaction is to take place
Some time after a wholesale transaction is complete, Market Operations settles the transaction using actual usage data gathered by the SmartConnect system, which is aggregated for all meters included as a part of the transaction during the period specified in the transaction. Data from the SmartConnect system is then used to prepare bills and invoices to the multiple parties involved in the wholesale transaction based on existing contracts and tariffs.