OATI Helps Move Transactive Energy Management from Theory to Practice
Open Access Technology International, Inc. (OATI) offers a new framework for Transactive Energy, beyond simply managing “energy” transactions.
Minneapolis, MN: June 19, 2013 – The International Conference and Workshop on Transactive Energy was held on May 23-24, 2013, in Portland, Oregon, to help shape the GridWise Architecture Council (GWAC)’s roadmap on a new Transactive Energy Framework. Dr. Ali Ipakchi, Vice President of Smart Grid and Green Power at OATI, presented a comprehensive framework for Transactive Energy addressing operational, organizational, regulatory and technological requirements.
Transactive energy involves advanced techniques for managing the generation, consumption or flow of electric power within an electric power system through the use of economic or market-based constructs, while considering grid reliability constraints. The term “transactive” refers to making energy decisions based on economic value.
Dr. Farrokh Rahimi, Vice President of Market Design and Consulting at OATI, urged attendees to see transactive energy techniques for more than just transacting “energy” or managing load or generation for balancing. “There are other aspects of managing the grid that need to be considered, such as provisioning ancillary services and flexibility reserves to offset the unpredictability of renewable generation resources,” said Dr. Rahimi. “Likewise, in the near future it will be possible for collections of collaborating buildings to help the grid operation with, for example, phase balancing, Volt/VAR optimization, and frequency response.”
The proposed framework should particularly help in closing the existing gaps between the retail and the bulk power operations. Dr. Ipakchi placed an emphasis on the need for further coordination of regulatory requirements and operational practices between retail and wholesale power to address the industry challenges.
OATI provides innovative software solutions that simplify, streamline, and empower the operational tasks required in today’s energy commerce and Smart Grid. With more than 1,200 customers in North America, OATI successfully deploys large, complicated, and diverse mission-critical applications committed to industry standards and stringent NERC CIP guidelines.
OATI (www.oati.com) is a leading provider of Smart Grid, Energy Trading and Risk Management, Transmission Scheduling, Congestion Management, and Market Management products and services. OATI is headquartered in Minneapolis, Minnesota with an office in Redwood City, California. For more information, please contact email@example.com.