Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Discount or incentive
Patent
1997-10-15
2000-08-15
Cosimano, Edward R.
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Discount or incentive
705400, 705412, G06F 1760
Patent
active
061050008
ABSTRACT:
A financial rebate program provides a rebate to purchasers or sellers of energy such as electrical power and natural gas for a deviation from expected weather conditions. In one example, the buyer of a block of electrical power for a given winter month pays a premium as a percent of the value of the transaction. If the weather is warmer than normal, the heating degree days would be less and the demand for electrical power would also be less because of reduced electrical heating load. As a result, the buyer might have to sell the excess power at a discount. The buyer would receive a rebate based on the number of degree days below a given strike, such as ninety-five percent of normal, helping to offset the discount thereby minimizing a component of financial risk of the transaction.
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Hickman James E.
Nelson Sushil
Aquila Risk Management Corporation
Cosimano Edward R.
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