SYSTEM FOR SELLING ENERGY PRODUCTS
Cross Reference To Related Applications This application claims the benefit of the filing date of U.S. provisional patent application serial number 60/291,946, attorney docket number 28315.7, filed on 5/18/2001, the disclosure of which is incorporated herein by reference.
Background of the Invention This invention relates generally to selling energy products, and in particular to online systems for selling energy products. Summary of the Invention
According to one aspect of the present invention, a system for selling energy products is provided that includes the Internet, a web host computer operably coupled to the Internet adapted to operate an energy marketplace for selling energy products, and one or more users operably coupled to the Internet adapted to purchase energy products from the energy marketplace.
According to another aspect of the present invention, a method of selling energy products is provided that includes operating an energy marketplace for selling energy products from a web host computer to users of the Internet.
Brief Description of the Drawings Fig. la is a schematic illustration of an exemplary embodiment of a system for selling energy products.
Fig. lb is a schematic illustration of an exemplary embodiment of a marketplace for the sale of energy products for use in the system of Fig. la.
Fig. 2 is a flow chart illustration of an exemplary embodiment of a method for operating the system of Figs, la and lb.
Fig. 3 is a flow chart illustration of an exemplary embodiment of the host functions of the method of Fig. 2.
Fig. 4 is a flow chart illustration of an exemplary embodiment of the user functions of the method of Fig. 2. Fig. 5a is a schematic illustration of an exemplary embodiment of the shipment of fuel from the host inventory and the subsequent replacement of the fuel.
Figs. 5b is a flow chart illustration of an exemplary embodiment of a method for posung tne replacement cost for fuel.
Fig. 5c is a schematic illustration of an exemplary embodiment of a system for determining the replacement cost in the method of Fig. 5b.
Fig. 6a is a flow chart illustration of an exemplary embodiment of a method for posting the external costs associated with procuring fuel.
Fig. 6b is a schematic illustration of an exemplary embodiment of a system for determining the external costs associated with procuring fuel products in the method of Fig. 6a.
Fig. 7a is a schematic illustration of an exemplary embodiment of the relationship between a master user and associated users.
Fig. 7b is a flow chart illustration of an exemplary embodiment of a method for adding master users.
Fig. 8a is a flow chart illustration of an exemplary embodiment of a method for providing a fixed price quote. Fig. 8b is a schematic illustration of an exemplary embodiment of a system for generating fixed price quotes.
Fig. 8c is a schematic illustration of an exemplary embodiment of the fixed price quote engine of the system of Fig. 8a.
Fig. 8d is a schematic illustration of an exemplary embodiment of the terms and conditions associated with a rateable quote.
Fig. 8e is a schematic illustration of an exemplary embodiment of the terms and conditions associated with a non-rateable quote.
Fig. 8f is a flow chart illustration of an exemplary embodiment of a method for generating a fixed price quote. Fig. 9a is a schematic illustration of an exemplary embodiment of a fuel terminal having excess fuel.
Fig. 9b is a flow chart illustration of an exemplary embodiment of a method for posting spot sales.
Fig. 10 is a flow chart illustration of an exemplary embodiment of a method for executing fixed price quotes.
Fig. 11 is a flow chart illustration of an exemplary embodiment of a method for posting deal histories for users.
Fig. 12 is a flow chart illustration of an exemplary embodiment of a method for maintaining lϋel terminals.
Fig. 13 is a flow chart illustration of an exemplary embodiment of a method for maintaining a trading calendar for a fuel.
Fig. 14a is a flow chart illustration of an exemplary embodiment of a method for displaying posted price quotes.
Fig. 14b is a schematic illustration of an exemplary embodiment of a system for generating a posted price quote.
Fig. 15 is a flow chart illustration of an exemplary embodiment of a method for displaying posted price quotes. Fig. 16 is a flow chart illustration of exemplary embodiments of a method for executing posted price quotes.
Fig. 1 is a flow chart illustration of an exemplary embodiment of a method for displaying fixed price quotes.
Fig. 18 is a flow chart illustration of an exemplary embodiment of a method for executing a fixed price quote.
Fig. 19 is a flow chart illustration of an exemplary embodiment of a method for displaying spot sale quotes.
Fig. 20 is a flow chart illustration of an exemplary embodiment of a method for executing spot sales. Fig. 21 is a flow chart illustration of an exemplary embodiment of a method for adding users.
Fig. 22 is a schematic illustration of a system for creating and maintaining a risk book database.
Detailed Description of the Illustrative Embodiments An exemplary embodiment of a system for selling energy products is provided that permit energy products such as, for example, natural gas to be sold using the Internet. In this manner, the energy products may be sold in a more efficient manner thereby reducing the transaction costs associated with the sale of energy products. The teachings of the present exemplary embodiments may be applied to the sale of any product or service.
Referring to Figs, la, lb, 2, 3, 4, 5a, 5b, 5c, 6a, 6b, 7a, 7b, 8a, 8b, 8c, 8d, 8e, 8f, 9a, 9b, 10, 11, 12, 13, 14a, 14b, 15, 16, 17, 18, 19, 20, 21 and 22, an exemplary embodiment of a system for selling energy products 10 includes a web host computer lz~trιat is operably coupled to the Internet 14 by a communications link 16. A host administrator 18 is operably coupled to the web host computer 12 by a communications link 20. Users A and B, 22a and 22b, respectively, are operably coupled to the Internet 14 by communication links, 24a and 24b, respectively, and master users A and B, 26a and 26b, respectively, are operably coupled to the Internet 14 by communication links, 28a and 28b, respectively. A user agent 30 is operably coupled to the Internet 14 by a comrnunication link 32.
The design and operation of the Internet 14 is well known to persons having ordinary skill in the art. The communication links, 16, 20, 24a, 24b, 28a, 28b, and 32 may be, for example, any conventional communications links. The host administrator 18, the users A and B, 22a and 22b, respectively, master users A and B, 26a and 26b, respectively, and the user agent may include, for example, programmable general purpose computers that utilize a conventional Internet service provider and a web browser in order to faciliate interaction with the web host computer 12.
In an exemplary embodiment, the web host computer 12 and the host administrator 18 are associated with a host company 34. In an exemplary embodiment, the user A 22a and the master user A 26a are associated with a company A 36, and the user B 22b and the master user B 26b are associated with a company B 38. In an exemplary embodiment, as illustrated in Fig. lb, the host company 34 creates and maintains a market for selling energy products 40 in which users A and B, 22a and 22b, and the user agent 30 may purchase energy products from the host company 34. In several alternative embodiments, the products may include any type of products and/or services. In several alternative embodiments, the user agent 30 may act as an agent for one or more of the users
22 and thereby purchase products and/or services on their behalf.
As illustrated in Fig. 2, in an exemplary embodiment, the system 10 implements a method of operating a system for selling energy products 200 in which the host administrator 18, users A and B, 22a and 22b, master users A and B, 26a and 26b, and the user agent 30 may logon to the web host computer 12 in step 202.
The host administrator 18 may then select host functions in step 204, and the users A and B, 22a and 22b, the master users A and B, 26a and 26b, and the user agent 30 may select user functions in step 206.
Referring to Fig. 3, after selecting host functions in step 204, the host administrator 18 may then select replacement cost in step 302, cost parameters in step 304, add/maintain master users in step 306, fixed price quote in step 308, spot sales in step 310, execute fixed price quote in step 312, deal history in step 314, add/maintain terminals in step 316, maintain trading time in step 318, posted price quote in step 320, and/or execute sales on behalf of one or more of the users, 22 and 26, in step 322.
In an exemplary embodiment, as illustrated in Fig. 5a, when a user 22 obtains a shipment of a fuel product from the fuel inventory of the host company
34, the host may have to replace the volume of fuel shipped to the user. Consequently, the ability to quickly determine the cost of replacing the fuel shipped out of the inventory of the host company 34 is extremely important. In an exemplary embodiment, as illustrated in Fig. 5b, when the host administrator 18 selects replacement cost in step 302, the web host computer 12 determines the replacement cost associated with replacing a quantity of fuel sold to a user 22. In particular, in step 502, the host administrator 18 enters the identification of the fuel sold by the host company 34 to the user 22. In step 504, the identification of the fuel sold entered by the host administrator 18 is verified by comparing the identification of the fuel sold with a database of identification of fuel sold. If the identification of the fuel sold entered by the host administrator 18 is verified, then the web host computer 12 determines the cost to replace the identified quantity of fuel sold by the host company 34 to the user 22 in step 506. In an exemplary embodiment, the identification of fuel sold includes the name and/or index number of the fuel sold.
In an exemplary embodiment, as illustrated in Fig. 5c, in step 506, the replacement cost is determined as a function of the cost of money 506a, information regarding replacement costs stored within a replacement cost database 506b, and information regarding sales of fuel by the host company 34 stored in a fuel sales database 506c. A replacement cost engine 506d then generates the replacement cost as a function of the cost of money, the replacement cost information, and the fuel sales information using one or more conventional algorithms. If the identification number of the fuel sold entered by the host administrator 18 is not verified in step 504, then the host administrator may select continuing to step 502 or ending in step 508. After the replacement cost has been determined in step 506, the replacement cost is posted for display on the host administrator 18 in step 510. The host administrator may then select continuing to step 502 or ending in step 512.
In an exemplary embodiment, as illustrated in Fig. 6a, when the host administrator 18 selects cost parameters in step 304, the web host computer 12 determines the cost parameters associated with procuring a quantity of fuel. In particular, in step 602, the host administrator 18 identifies the fuel to be procured by the host company 34. In step 604, the external costs associated with procuring the identified fuel is then determined by the web host computer 12. The external costs may include, for example, shipping, handling, and storage costs. In an exemplary embodiment, as illustrated in Fig. 6b, in step 604, the external cost is determined as a function of the cost of money 604a, and information regarding external costs stored within an external cost database 604b. An external cost engine 606c then generates the external cost as a function of the cost of money and the external cost information using one or more conventional algorithms.
After the external cost has been determined in step 604, the external cost is posted for display on the host administrator 18 in step 606. The host administrator may then select continuing to step 602 or ending in step 608.
In an exemplary embodiment, as illustrated in Fig. 7a, a company 700 that uses the system 10 to purchase fuel products includes a master user 702 and one or more users, 704a and 704b. In an exemplary embodiment, the master user 702 controls to the extent to which the users, 704a and 704b, have access to the system
10.
In an exemplary embodiment, as illustrated in Fig. 7b, when the host administrator 18 selects add/maintain master users in step 306, the web host computer 12 permits the host administrator to add and/or maintain the master users 26 having access to the system 10. In particular, in step 706, if the host administrator 18 selects adding/maintaining master users in step 706, then the host administrator may add and/or maintain master users in step 708. In an exemplary embodiment, during step 708, the host administrator may also assign the master users to corresponding companies. For example, in step 708, me host administrator 18 may assign master users, 26a and 26b, to companies, 36 and 38, respectively. If the host administrator 18 does not select adding/maintaining master users in step 706, then the host administrator may select continuing to step 706 or ending in step 710. After the host administrator 18 has added and/or maintained master users in step 708, then the host administrator may select continuing to step 706 or ending in step 712.
In an exemplary embodiment, as illustrated in Fig. 8a, when the host administrator 18 selects fixed price quote in step 308, the web host computer 12 calculates a fixed price quote for the sale of an identified fuel product by the host company 34 to a user 22. In particular, in step 802, the host administrator 18 identifies the fuel for which a fixed price quote is to generated. In step 804, the fixed price quote for sale of the identified fuel product is then determined by the web host computer 12. In an exemplary embodiment, as illustrated in Fig. 8b, in step 804, the fixed price quote is determined as a function of cost parameters 804a, the cost of money 804b, and the replacement cost for the fuel product 804c. A fixed price quote engine 804d then generates the fixed price quote as a function of the cost parameters, the cost of money, and the replacement cost using one or more conventional algorithms. In an exemplary embodiment, as illustrated in Fig. 8c, the fixed price quote engine 804d includes a rateable quote engine 804da and a non-rateable quote engine 804db that generate rateable and non-rateable fixed price quotes, respectively.
As illustrated in Fig. 8d, a rateable fixed price quote corresponds to the delivery of a total quantity of fuel product in which the quantity delivered per time period is predetermined; however, as illustrated in Fig. 8e, a non-rateable fixed price quote corresponds to the delivery of a total quantity of fuel product by the end of the term in which the quantity delivered per time period is not predetermined. Due to the uncertainties associated with a non-rateable fixed price quote, the amount of a non-rateable fixed price quote is typically greater than a rateable fixed price quote for the same total quantity of a particular fuel product.
After the fixed price quote has been determined in step 804, the fixed price quote is posted for display on the host administrator 18 in step 806 and stored within a fixed price quote database within the web host computer 12. The host administrator may then select continuing to step 802 or ending in step 808.
In an exemplary embodiment, as illustrated in Fig. 8f, in determining the fixed price quote in step 804, the host administrator 18 enters the term of the delivery of the identified fuel product by the host company 34 to the user 22 in step 810. In an exemplary embodiment, the term of delivery defines the time period, for example, the number of months, during which the identified fuel product will be delivered by the host company 34 to the user 22. The host administrator 18 then selects either a rateable fixed price quote or a nonrateable fixed price quote in step 812. If the host administrator 18 selects a rateable fixed price quote, then the host administrator enters the amount of the identified fuel product to be delivered by the host company 34 to the user 22 during each time increment of the term in step 814. In an exemplary embodiment, in step 814, the host administrator 18 enters the amount of the identified fuel product to be delivered by the host company 34 to the user 22 each month. If the host administrator 18 selects a nonrateable quote, then the host administrator enters the total volume of the identified fuel product to be delivered by the host company 34 to the user 22 by the end of the term in step 816. The web host computer 12 then calculates the fixed price quote in step 818. In an exemplary embodiment, as illustrated in Fig. 9a, a fuel terminal 700 operated by the host company 34 within the system 10 may have excess fuel to sell. In an exemplary embodiment, the excess fuel may then be sold to a user 22 as part of a spot sale.
In an exemplary embodiment, as illustrated in Fig. 9b, when the host administrator 18 selects spot sales in step 310, the web host computer 12 determines the availability of excess fuel at the fuel terminals of the system 10 that may then be sold to users 22 as part of a spot sale. In particular, in step 902, the web host computer 12 determines if there is excess fuel available for sale as part of spot sale in step 902. If excess fuel is determined to be available for sale as part of a spot sale in step 902, then the web host computer 12 determines the location of the corresponding fuel terminal 700, the type of fuel, the quantity of fuel, and the minimum amount for sale in step 904. The location of the terminal having the excess fuel, the type and quantity of the excess fuel available for sale, and the minimum quantity of excess fuel available for sale as part or a spot sale is then posted for display on the host administrator 18 and stored in a database within the web host computer 12 for later retrieval in step 906. The host administrator may then select continuing to step 906 or ending in step 908. In an exemplary embodiment, the host administrator may then obtain a fixed price quote and/or a posted price quote for the now identified excess fuel for spot sale in steps 308 and/or 320.
In an exemplary embodiment, as illustrated in Fig. 10, when the host administrator 18 selects execute fixed price quotes in step 312, the web host computer 12 attempts to execute the sale of any open user purchase orders for fixed price quotes. In particular, in step 1002, the web host computer 12 determines if there are any open user purchase orders for fixed price quotes. If open user purchase orders for fixed price quotes exist, then the web host computer 12 retrieves the first open user purchase order for a fixed price quote in step 1004. The web host computer 12 then verifies that a fixed price quote exists for the user's open purchase order in step 1006. If a fixed price quote exists for the user's open purchase order exists, then the web host computer then determines is the user 22 is credit worthy in step 1008. If the user is credit worthy, then the web host computer 12 executes the open purchase order in step 1010. If there more open user purchase orders for fixed price quotes in step 1012, then the web host computer 12 retrieves the next open user purchase order for a fixed price quote and repeats steps 1006, 1008, and 1010, as described above.
In an exemplary embodiment, as illustrated in Fig. 11, when the host administrator 18 selects get deal history in step 314, the web host computer 12 retrieves the sales history for all fuel products sold by the host company 34 to a specified user 22. In particular, in step 1102, the host administrator 18 enters the identification of the user. If the user identification is valid in step 1104, then the web host computer 12 retrieves the sales history for all fuel products sold by the host company 34 to the specified user 22 in step 1106. Alternatively, if the user identification is not valid in step 1104, then the host administrator 18 may continue to step 1102 or end in step 1108. After the sales history for all fuel products sold by the host company 34 to the specified user 22 has been retrieved in step 1106, then the sales history for all fuel products sold by the host company 34 to the specif leα user 22 is then displayed on the user 22 in step 1110. The host administrator 18 may then continue to step 1102 or end in step 1112.
In an exemplary embodiment, as illustrated in Fig. 12, when the host administrator 18 selects add/maintain terminals in step 316, the web host computer 12 permits the host administrator 18 to add fuel terminals 700 to, and/or maintain fuel terminals within, the system 10. In particular, in step 1202, the host administrator 18 may select adding a fuel terminal. The host administrator 18 may then add a fuel terminal 700 to the system 10 in step 1204.
If the host administrator 18 did not select adding a fuel terminal in step 1202, or if the host administrator 18 has completed adding a fuel terminal in step
1204, the host administrator may then select maintaining a fuel terminal in step 1206. The host administrator 18 may then maintain a fuel terminal 700 within the system 10 in step 1208. If the host administrator 18 did not select maintaining a fuel terminal in step 1206, then the host administrator may continue to step 1202 or end in step 1210. After the host administrator 18 completes maintaining fuel teπriinals in step 1208, the host administrator may continue to step 1202 or end in step 1212.
In an exemplary embodiment, as illustrated in Fig. 13, when the host administrator 18 selects maintain trading time in step 318, the web host computer 12 permits the host administrator 18 to maintain the trading calendar for fuel products sold using the system 10. In particular, in step 1302, the host administrator 18 enters the type of fuel product. The web host computer 12 then determines if the type of fuel product entered was valid in step 1304. If the type of fuel product entered in step 1304 was valid, then the host administrator 18 may then enter the trading calender for the selected fuel product in step 1306. If the type of fuel product entered in step 1302 was determined to be invalid in step 1304, then the host administrator may continue to step 1302 or end in step 1308.
After the host administrator enters the trading calendar for the selected fuel product in step 1306, the web host computer 12 then determines if the entered trading calendar is valid in step 1310. If the entered trading calendar is determined to be valid in step 1310, then the web host computer 12 updates the trading calendar for the selected fuel product in step 1312. If the entered trading calendar is determined to be invalid in step 1310, or if the web host computer 12 has completed upαating the trading calendar for the selected fuel product in step 1312, the host administrator may then continue to step 1302 or end in step 1314.
In an exemplary embodiment, as illustrated in Fig. 14a, when the host administrator 18 selects posted price quote in step 320, the web host computer 12 determines the posted price quote for a selected fuel product. In particular, in step
1402, the host administrator 18 enters the identification of the fuel product. In step 1404, the web host computer determines if a corresponding fixed price quote exists for the identified fuel product. If the identified fuel product has a corresponding fixed price quote, then the web host computer generates the posted price quote by adjusting the corresponding fixed price quote upwardly or downwardly in step 1406.
In an exemplary embodiment, as illustrated in Fig. 14b, in step 1406, the posted price quote is determined as a function of the fixed price quote 1406a, the cost of money 1406b, and adjustment factors 1406c. In particular, a posted price quote engine 1406d then generates the posted price quote for the selected fuel product as a function of the fixed price quote 1406a, the cost of money 1406b, and the adjustment factors 1406c using one or more conventional algorithms.
If the identified fuel product did not have a corresponding fixed price quote in step 1404, then the host administrator may select continuing to step 1402 or ending in step 1408. After the posted price quote has been generated in step 1406, the posted price quote for the identified fuel product is posted for display on the host administrator 18 and stored in a database within the web host computer 12 in step 1410. The host administrator may then select continuing to step 1402 or ending in step 1412. In an exemplary embodiment, when the host administrator 18 selects execute sales on behalf of users in step 322, the web host computer 12 is programmed to permit the host administrator to execute spot sales, fixed price quotes, and/or posted price quotes on behalf of one or more of the users, 22 and 26. In this manner, the host administrator 18 may act as an agent for one or more of the users, 22 and 26.
Referring to Fig. 4, after selecting user functions in step 206, the users 22 and the master users 26 may then select get posted prices in step 402, execute posted prices in step 404, get fixed price quote in step 406, execute fixed price quote in step 4087get spot sales in step 410, and/or execute spot sales in step 412. The master users 26 may further select add/maintain users in step 414.
In an exemplary embodiment, as illustrated in Fig. 15, when the users 22 and/or master users 26 select get posted prices in step 402, the web host computer 12 permits the users and/or master users to retrieve and view the posted price quote for a selected fuel product. In particular, in step 1502, the users 22 and/or master users 26 enter the identification of the fuel product. In step 1504, the web host computer 12 determines if a corresponding posted price quote exists for the identified fuel product. If the identified fuel product has a corresponding posted price quote, then the web host computer 12 displays the posted price quote on the users 22 and/or master users 26 in step 1506.
If the identified fuel product did not have a corresponding posted price quote in step 1504, then the host administrator may select continuing to step 1502 or ending in step 1508. After the posted price quote has been displayed on the users 22 and/or master users 26, the users and/or master users may then select continuing to step 1502 or ending in step 1510.
In an exemplary embodiment, as illustrated in Fig. 16, when the users 22 and/or master users 26 select execute posted prices in step 404, the web host computer 12 permits the users and/or master users to purchase fuel products having posted prices. In particular, in step 1602, the users 22 and/or master users
26 enter the identification of the fuel product. In step 1604, the web host computer 12 determines if a corresponding posted price quote exists for the identified fuel product. If the identified fuel product has a corresponding posted price quote, then the web host computer 12 determines if the user 22 or master user 26 is creditworthy in step 1606. If the identified fuel product does not have a corresponding posted price quote, then the user 22 or master user 26 may continue to step 1602 or end in step 1608.
If the user 22 or master user 26 is creditworthy in step 1606, then the web host computer 12 executes the sale of the identified fuel product from the host company 34 to the user 22 or master user 26 in step 1610. If the user 22 or master user 26 is not creditworthy in step 1606, then the user or master user may continue to step 1602 or end in step 1608. After the execution of the sale of the identified fuel product in step 1610, the user 22 or master user 26 may continue to step 1602 or end in step 16T2.
In an exemplary embodiment, as illustrated in Fig. 17, when the users 22 and/or master users 26 select fixed price quote in step 406, the web host computer 12 permits the users and/or master users to retrieve and view the fixed price quote for a selected fuel product. In particular, in step 1702, the users 22 and/or master users 26 enter the identification of the fuel product. In step 1704, the web host computer 12 determines if a corresponding fixed price quote exists for the identified fuel product. If the identified fuel product has a corresponding fixed price quote, then the web host computer 12 displays the fixed price quote on the users 22 and/or master users 26 in step 1706.
If the identified fuel product did not have a corresponding fixed price quote in step 1704, then the host administrator may select continuing to step 1702 or ending in step 1708. After the fixed price quote has been displayed on the users 22 and/or master users 26, the users and/or master users may then select continuing to step 1702 or ending in step 1710.
In an exemplary embodiment, as illustrated in Fig. 18, when the users 22 and/or master users 26 select execute fixed price quote in step 408, the web host computer 12 permits the users and/or master users to purchase fuel products having fixed price quotes. In particular, in step 1802, the users 22 and/or master users 26 enter the identification of the fuel product. In step 1804, the web host computer 12 determines if a corresponding fixed price quote exists for the identified fuel product. If the identified fuel product has a corresponding fixed price quote, then the web host computer 12 determines if the user 22 or master user 26 is creditworthy in step 1806. If the identified fuel product does not have a corresponding fixed price quote, then the user 22 or master user 26 may continue to step 1802 or end in step 1808.
If the user 22 or master user 26 is creditworthy in step 1806, then the web host computer 12 executes the sale of the identified fuel product from the host company 34 to the user 22 or master user 26 in step 1810. If the user 22 or master user 26 is not creditworthy in step 1806, then the user or master user may continue to step 1802 or end in step 1808. After the execution of the sale of the identified fuel product in step 1810, the user 22 or master user 26 may continue to step 1802 or end in step 1812. In an exemplary embodiment, as illustrated in Fig. 19,"when the users 22 and/or master users 26 select spot sale quote in step 410, the web host computer 12 permits the users and/or master users to retrieve and view the spot sale quote for a selected fuel product. In particular, in step 1902, the users 22 and/or master users 26 enter the identification of the fuel product. In step 1904, the web host computer 12 determines if a corresponding spot sale quote exists for the identified fuel product. If the identified fuel product has a corresponding spot sale quote, then the web host computer 12 displays the fixed price quote on the users 22 and/or master users 26 in step 1906. If the identified fuel product did not have a corresponding spot sale quote in step 1904, then the host administrator may select continuing to step 1902 or ending in step 1908. After the spot sale quote has been displayed on the users 22 and/or master users 26, the users and/or master users may then select continuing to step 1902 or ending in step 1910. In an exemplary embodiment, as illustrated in Fig. 20, when the users 22 and/or master users 26 select execute spot sale quote in step 412, the web host computer 12 permits the users and/or master users to purchase fuel products having spot sale quotes. In particular, in step 2002, the users 22 and/or master users 26 enter the identification of the fuel product. In step 2004, the web host computer 12 determines if a corresponding spot sale quote exists for the identified fuel product. If the identified fuel product has a corresponding spot sale quote, then the web host computer 12 determines if the user 22 or master user 26 is creditworthy in step 2006. If the identified fuel product does not have a corresponding spot sale quote, then the user 22 or master user 26 may continue to step 2002 or end in step 2008.
If the user 22 or master user 26 is creditworthy in step 2006, then the web host computer 12 executes the spot sale of the identified fuel product from the host company 34 to the user 22 or master user 26 in step 2010. If the user 22 or master user 26 is not creditworthy in step 2006, then the user or master user may continue to step 2002 or end in step 2008. After the execution of the spot sale of the identified fuel product in step 2010, the web host computer 12 generates a lift ticket at the corresponding fuel terminal that identifies the purchaser of the fuel product in step 2012. The user 22 or master user 26 may then continue to step 2002 or end in step 2014.
In an exemplary embodiment, as illustrated in Fig. 21, when the master user 26 selects add/maintain users in step 414, the web host computer 12 permits the master user to add and/or maintain users. In particular, in step 2102, the web host computer 12 determines if the user is actually a master user. If the user is a master user 26, then the master user may add and/or maintain users to and within the system 10 in steps 2104 and 2106. After adding and/or maintaining users in step 2106, the master user 26 may continue to step 2102 or end in step 2108.
In an exemplary embodiment, as illustrated in Fig. 22, the web host computer 12 includes a host sales accounting database 2202, a host inventory management database 2204, a risk engine 2206, and a risk book database 2208. In an exemplary embodiment, the host sales accounting database 2202 includes information regarding sales of fuel products from the host company 34 to the users 22 and master users 26, the host inventory management database 2204 includes information regarding the inventory of fuel products within the host company, and the risk book database 2208 includes information representative of the contractual obligations of the host company 34 to deliver fuel products to the users 22 and/or master users 26. In an exemplary embodiment, the risk engine 2206 processes the information within the host sales accounting database 2202 and the host inventory management database 2204 to generate the risk book database 2208 using one or more conventional algorithms. In this manner, the host administrator 18 may access and retrieve real time information regarding sales, inventory, and future obligations to deliver fuel products.
In several alternative embodiments, the system 10 is used to sell products and/or services of all kinds. Furthermore, in an exemplary embodiment, all of the operational features of the system 10 are provided on a real-time basis.
A system for selling energy products has been described that includes the Internet, a web host computer operably coupled to the Internet adapted to operate an energy marketplace for selling energy products, and one or more users operably coupled to the Internet adapted to purchase energy products from the energy marketplace. In an exemplary embodiment, the system further includes one or more host administrators operably coupled to the Internet adapted to maintain the energy marketplace. In an exemplary embodiment, the system further includes one or more userHgents operably coupled to the Internet adapted to purchase energy products on behalf of one or more of the users from the energy marketplace. In an exemplary embodiment, the system further includes a cost of money database comprising information regarding the cost of money operably coupled to the web host computer, a replacement cost database comprising information regarding the cost of replacing energy products sold to users of the energy marketplace operably coupled to the web host computer, a energy product sales database comprising information regarding sale of energy products to users of the energy marketplace operably coupled to the web host computer, and a replacement cost engine operably coupled to the web host computer, the cost of money database, the replacement cost database, and the energy product sales database for generating the cost of replacing energy products sold to users of the energy marketplace. In an exemplary embodiment, the system further includes a cost of money database comprising information regarding the cost of money operably coupled to the web host computer, an external cost database comprising information regarding the external costs associated with obtaining energy products operably coupled to the web host computer, and an external cost engine operably coupled to the web host computer, the cost of money database, and the external cost database for generating the external cost associated with obtaining energy products. In an exemplary embodiment, the system further includes one or more master users operably coupled to the Internet adapted to add and maintain corresponding users of the system. In an exemplary embodiment, the system further includes a cost parameters database comprising information regarding the costs associated with an energy product operably coupled to the web host computer, a cost of money database comprising information regarding the cost of money operably coupled to the web host computer, a replacement cost database operably coupled to the web host computer comprising information regarding the cost of replacing energy products sold to users of the energy marketplace, and a fixed price quote engine operably coupled to the web host computer, the cost parameters database, the cost of money database, and the replacement cost database for generating a fixed price quote for the sale of an energy product. In an exemplary embodiment, the fixed price quote is a rateable fixed price quote. In an exemplary embodiment, the fixed price quote is a non-rateable fixed price quote. In an exemplary embodiment, the system further includes one or more fuel terminals operably coupled to the web host computer, a spot sale database operably coupled to the web host computer comprising information representative of spot sales of energy products available from one or more of the fuel terminal, and the web host computer is adapted to display information regarding spot sales.
In an exemplary embodiment, the web host computer is adapted to implement a method of selling energy products that includes: determining if there are any open purchase orders, if there are open purchase orders, then determining if the open purchase order has a corresponding fixed price quote, if the open purchase order has a corresponding fixed price quote, then determining if the corresponding user is credit worthy, and if the corresponding user is credit worthy, then executing the open purchase order. In an exemplary embodiment, the web host computer is adapted to retrieve and display a history of sales activity for a selected user. In an exemplary embodiment, the system further includes one or more fuel terminals operably coupled to the web host computer, and the web host computer is adapted to add fuel terminals to the system and to maintain fuel terminals within the system. In an exemplary embodiment, the web host computer is adapted to maintain a trading calendar for energy products for sale within the energy marketplace. In an exemplary embodiment, the system further includes a fixed price quote database comprising information regarding fixed price quotes for energy products operably coupled to the web host computer, a cost of money database comprising information regarding the cost of money operably coupled to the web host computer, an adjustment factors database comprising information regarding how a fixed price quote should be adjusted to arrive at a corresponding posted price quote operably coupled to the web host computer, and a posted price quote engine operably coupled to the web host computer, the fixed price quote database, the cost of money database, and the adjustment factors database for generating a posted price quote as a function of the fixed price quote, the cost of money, and the adjustment factors. In an exemplary embodiment, the web host computer is adapted to display the posted price quote for an energy product. In an exemplary embodiment, the web host computer is adapted to implement a method of selling energy products including: allowing a user to enter the identity of an energy product, if the identified energy product has a corresponding posted price quote, then deterTrTining if the user is credit worthy, and if the"corresponding user is credit worthy, then executing the sale of the identified energy product for the posted price quote to the user. In an exemplary embodiment, the web host computer is adapted to display the fixed price quote for an energy product. In an exemplary embodiment, the web host computer is adapted to implement a method of selling energy products including: allowing a user to enter the identity of an energy product, if the identified energy product has a corresponding fixed price quote, then determining if the user is credit worthy, and if the corresponding user is credit worthy, then executing the sale of the identified energy product for the fixed price quote to the user. In an exemplary embodiment, the web host computer is adapted to display spot sales for an energy product. In an exemplary embodiment, the web host computer is adapted to implement a method of selling energy products including: allowing a user to enter the identity of an energy product, if the identified energy product has a corresponding spot sale quote, then determining if the user is credit worthy, if the corresponding user is credit worthy, then executing the spot sale of the identified energy product for the spot sale quote to the user, and generating a lift ticket at the corresponding fuel terminal. In an exemplary embodiment, the system further includes one or more master users operably coupled to the Internet adapted to add users to and maintain user within the system, one or more host administrators operably coupled to the Internet, and wherein the web host computer is adapted to permit the host administrators to add master user to and maintain master users within the system. In an exemplary embodiment, the system further includes one or more master users operably coupled to the Internet, and wherein the web host computer is adapted to permit the master users to add users to or maintain users within the system. In an exemplary embodiment, the system further includes a host sales accounting database comprising information regarding the sale of energy products to users of the energy marketplace operably coupled to the web host computer, a host inventory management database comprising information regarding the inventory of energy products within the energy marketplace operably coupled to the web host computer, a risk book database operably coupled to the web host computer comprising information regarding future obligations to deliver energy products to users of the energy marketplace, and a risk engine operably coupled to the web host computer, tHe' host sales accounting database, the host inventory management database, and the risk book database adapted to generate the risk book database as a function of the sales of energy products, and the inventory of energy products. A method of selling energy products has been described that includes operating an energy marketplace for selling energy products from a web host computer to users of the Internet. In an exemplary embodiment, the method further includes maintaining the energy marketplace. In an exemplary embodiment, the method further includes permitting user agents to purchase energy products on behalf of one or more of the users from the energy marketplace. In an exemplary embodiment, the method further includes maintaining a cost of money database comprising information regarding the cost of money, maintaining a replacement cost database comprising information regarding the cost of replacing energy products, maintaining an energy product sales database comprising information regarding the sale of energy products to users of the energy marketplace, and generating the cost of replacing products sold to users of the energy marketplace as a function of the cost of money, the cost of replacing energy products, and the sale of energy products to users of the energy marketplace. In an exemplary embodiment, the method further includes maintaining a cost of money database comprising information regarding the cost of money, maintaining an external cost database comprising information regarding the external cost associated with obtaining energy products, and generating the external cost associated with obtaining energy products as a function of the cost of money information, and the external cost information. In an exemplary embodiment, the method further includes permitting one or more master users to add and maintain corresponding users of the system. In an exemplary embodiment, the method further includes maintaining a cost parameters database comprising information regarding the costs associated with an energy product, maintaining a cost of money database comprising information regarding the cost of money, maintaining a replacement cost database comprising information regarding the cost of replacing energy products sold to users of the energy marketplace, and generating a fixed price quote for the sale of an energy product as a function of the cost parameters information, the cost of money information, and the replacement cost information. In an exemplary embodiment, the fixed price quote is a rateable fixed price quote. In an exemplary eϊfibodiment, the fixed price quote is a non-rateable fixed price quote. In an exemplary embodiment, the method further includes maintaining a spot sale database comprising information representative of spot sales of energy products available from one or more fuel terminals, and displaying information regarding spot sales. In an exemplary embodiment, the method further includes determining if there are any open purchase orders, if there are open purchase orders, then determining if the open purchase order has a corresponding fixed price quote, if the open purchase order has a corresponding fixed price quote, then determining if the corresponding user is credit worthy, and if the corresponding user is credit worthy, then executing the open purchase order. In an exemplary embodiment, the method further includes retrieving and displaying a history of sales activity for a selected user. In an exemplary embodiment, the method further includes adding fuel terminals, and maintaining fuel terminals. In an exemplary embodiment, the method further includes maintaining a trading calendar for energy products for sale within the energy marketplace. In an exemplary embodiment, the method further includes maintaining a fixed price quote database comprising information regarding fixed price quotes for energy products, maintaining a cost of money database comprising information regarding the cost of money, maintaining an adjustment factors database comprising information regarding how a fixed price quote should be adjusted to arrive at a corresponding posted price quote, and generating a posted price quote as a function of the fixed price quote information, the cost of money information, and the adjustment factors information. In an exemplary embodiment, the method further includes displaying the posted price quote for an energy product. In an exemplary embodiment, the method further includes allowing a user to enter the identity of an energy product, if the identified energy product has a corresponding posted price quote, then determining if the user is credit worthy, and if the corresponding user is credit worthy, then executing the sale of the identified energy product for the posted price quote to the user. In an exemplary embodiment, the method further includes displaying the fixed price quote for an energy product. In an exemplary embodiment, the method further includes allowing a user to enter the identity of an energy product, if the identified energy product has a corresponding fixed price quote, then determining if the user is credit worthy, and if the corresponding user is credit worthy^ then executing the sale of the identified energy product for the fixed price quote to the user. In an exemplary embodiment, the method further includes displaying spot sales for an energy product. In an exemplary embodiment, the method further includes allowing a user to enter the identity of an energy product, if the identified energy product has a corresponding spot sale quote, then determining if the user is credit worthy, if the corresponding user is credit worthy, then executing the spot sale of the identified energy product for the spot sale quote to the user, and generating a lift ticket at the corresponding fuel terminal. In an exemplary embodiment, the method further includes permitting one or more master users to add users to and maintain users, and permitting one or more host administrators to add master user to and maintain master users. In an exemplary embodiment, the method further includes permitting one or more master users to add users to or maintain users. In an exemplary embodiment, the method further includes maintaining a host sales accounting database comprising information regarding the sale of energy products to users of the energy rnarketplace, maintaining a host inventory management database comprising information regarding the inventory of energy products within the energy marketplace, maintaining a risk book database comprising information regarding future obligations to deliver energy products to users of the energy marketplace, and generating the risk book database as a function of the sales of energy products, and the inventory of energy products.
A method for selling energy products has been described that includes operating an energy marketplace for selling energy products from a web host computer to users of the Internet, permitting one or more host administrators to maintain the energy marketplace, permitting one or more user agents to purchase energy products on behalf of one or more of the users from the energy marketplace, permitting one or more master users to add users to, and maintain users, of the system, coupling one or more fuel terminals to the web host computer, maintaining a cost of money database comprising information regarding the cost of money, maintaining a replacement cost database comprising information regarding the cost of replacing energy products sold to users of the energy marketplace operably, maintaining an energy product sales database comprising information regarding the sale of energy products to users of the energy marketplace, generating the cost of replacing energy product sold to users of the energy marketplace as a function of the cost of money information, the replacement cost information, and the sale of energy products information, maintaining an external cost database comprising information regarding the external costs associated with obtaining energy products, generating the external cost associated with obtaining energy products as a function of the cost of money information, and the external cost information, maintaining a cost parameters database comprising information regarding the costs associated with an energy product, generating a rateable or a non-rateable fixed price quote for the sale of an energy product as a function of the cost of money information, the cost parameters information, and the replacement cost information, maintaining a spot sale database comprising information representative of spot sales of energy products available from one or more of the fuel terminal, maintaining a fixed price quote database comprising information regarding fixed price quotes for energy products, maintaining an adjustment factors database comprising information regarding how a fixed price quote should be adjusted to arrive at a corresponding posted price quote, generating a posted price quote as a function of the fixed price quote, the cost of money information, and the adjustment factors information, maintaining a host sales accounting database comprising information regarding the sale of energy products to users of the energy marketplace, maintaining a host inventory management database comprising information regarding the inventory of energy products within the energy marketplace, maintaining a risk book database comprising information regarding future obligations to deliver energy products to users of the energy marketplace, generating a risk book database as a function of the sales of energy products information, and the inventory of energy products information, displaying information regarding spot sales, determining if there are any open purchase orders, if there are open purchase orders, then determining if the open purchase order has a corresponding fixed price quote, if the open purchase order has a corresponding fixed price quote, then determining if the corresponding user is credit worthy, if the corresponding user is credit worthy, then executing the open purchase order, retrieving and displaying a history of sales activity for a selected user, adding fuel terminals to the system and maintaining fuel terminals within the system, maintaining a trading calendar for energy products Tor sale within the energy marketplace, displaying the posted price quote for an energy product, allowing a user to enter the identity of an energy product, if the identified energy product has a corresponding posted price quote, then determining if the user is credit worthy, if the corresponding user is credit worthy, then executing the sale of the identified energy product for the posted price quote to the user, displaying the fixed price quote for an energy product, if the identified energy product has a corresponding fixed price quote, then determining if the user is credit worthy, if the corresponding user is credit worthy, then executing the sale of the identified energy product for the fixed price quote to the user, displaying spot sales for an energy product, if the identified energy product has a corresponding spot sale quote, then determining if the user is credit worthy, if the corresponding user is credit worthy, then executing the spot sale of the identified energy product for the spot sale quote to the user, generating a lift ticket at the corresponding fuel terminal, and permitting the host administrators to add master users to and maintain master users.
Although illustrative embodiments of the invention have been shown and described, a wide range of modification, changes and substitution is contemplated in the foregoing disclosure. In some instances, some features of the present invention may be employed without a corresponding use of the other features. Accordingly, it is appropriate that the appended claims be construed broadly and in a manner consistent with the scope of the invention.