Momentary power market

A power system is explained, which is characterized by the continuous formation and propagation of dynamic prices. The following additional equipments are installed: - a bidder, installed at the control room of each generation unit; - a scheduler and price designator installed at the control board of the system operator; - a price announcer installed at the control room of each generation unit; - a price ldquotransmuterrdquo installed at each grid node; - an intelligent electric meter installed at each grid branch and consumer outlet. All these devices run together in a sequential iterative process of preliminary bidding, clearing, adjustment and dispatching, followed by price designation, confirmation and conversion. This system enables the consumers to receive power and resulting price simultaneously for automatic control of their demand during every single price period, several seconds or minutes long.