Transactive Energy : Smart Grid Applications
The Transactive Energy Information Exchange (TeMIX) model extends the standard protocols for wholesale forward energy transactions to retail and real-time energy transactions. With the introduction of interval metering, improved communications, smart devices, and smart controls it is now practical to carry out transactions automatically for (1) retail customers and (2) for shorter intervals of time closer to delivery. The Transactive Energy model accommodates conventional retail tariffs, system operator spot markets, and demand response programs thus providing a foundation for all energy transactions.
TeMIX is a profile of the work of the OASIS Energy Market Information Exchange Technical Committee (eMIX) and the OASIS Energy Interoperation Technical Committee in support of NIST PAPs 03 and 09.
This paper describes the application of the TeMIX model to retail dynamic pricing tariffs. Such tariffs include real time pricing and subscriptions for options and forward contracts for hedging real-time prices. Interfaces with wholesale markets and transmission and distribution are addressed. And the benefits of TeMIX in providing dynamic price signals to help balance grids with high penetration of variable wind and solar are highlighted.