Jersey Central Power & Light Company

Atlantic City Electric Company

Rockland Electric Company

Public Service & Gas Company

Public Service Electric and Gas Company

Auction Technologies, LLC

David J Salant

Frederick W Lark

Chantale Lacasse

Colin J Loxley

Gerald W Schirra

Anthony R Robinson

Eugene Meehan

Robert Taylor

Paul R Milgrom

A system for conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services includes a web server for receiving bid data for one or more users for basic generation service products, an application server host application software, which processes the one or more bids according to at least one auction rule, tracks the auction, monitors the auction, and/or determines when to end the auction, and a database server, which stores auction data. A method of conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services includes the repeating steps of receiving bids indicating desired tranche units of basic generation service products, calculating next round prices for each product, and sending round results to bidders. The system for and method of conducting a computer-based auction includes receiving and processing a withdrawal request or a switch request from at least one of the qualified bidders.

Computer architecture and process for processing a withdrawal request or a switch request for auctioning of basic generation services

A system for conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services includes a web server for receiving bid data for one or more users for basic generation service products, an application server host application software, which processes the one or more bids according to at least one auction rule, tracks the auction, monitors the auction, and/or determines when to end the auction, and a database server, which stores auction data. A method of conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services includes the repeating steps of receiving bids indicating desired tranche units of basic generation service products, calculating next round prices for each product, and sending round results to bidders. The subsequent round price for each of the products and a notice of the number of tranches bid during the immediately previous round of bidding for each of the products and/or the amount of excess supply offered. When the number of tranches bid for the round of bidding are equal to or less than the certain threshold for each of the products such that no further bidding can take place under the auction rules, the auction ends after the round of bidding and awarding winning bidders an ending price for each of the at least one of the plurality of products won by the winning bidders.

Electronic bid withdrawal and switch requests for computer-based auctioning of basic generation services

Computer architecture and process for revisions to targets for auctioning of basic generation services

A system for conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services includes a web server for receiving bid data for one or more users for basic generation service products, an application server host application software, which processes the one or more bids according to at least one auction rule, tracks the auction, monitors the auction, and/or determines when to end the auction, and a database server, which stores auction data. A method of conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services includes the repeating steps of receiving bids indicating desired tranche units of basic generation service products, calculating next round prices for each product, and sending round results to bidders. The system for and method of conducting a computer-based auction includes limiting the qualified bidders by a load cap to a maximum number of tranches bid during a round.

Computer architecture and process for implementing load caps for auctioning of basic generation services

A system and method of conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services (BGS) includes receiving bids by an application server host application for processing bids according to auction rules, for tranche units of BGS products, calculating next round prices, and sending round results to bidders, the subsequent round prices and a notice of the number of tranches bid during the previous round and/or the amount of excess supply offered. Subsequently, an electronic withdrawal request to remove tranches from a product and reduce a maximum number bids the bidder can make in future rounds, and/or bidder exit price, is received, but may be partially or fully refused. When the number of tranches bid are equal to or less than a certain threshold for each of the products, the auction may end and bidders are awarded an ending price for each of the products won.

Electronic withdrawal and/or exit price requests for computer-based auctioning of basic generation services

A system and method of conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services (BGS) includes receiving bids by an application server host application for processing bids according to auction rules, for tranche units of BGS products, calculating next round prices, and sending round results to bidders, the subsequent round prices and a notice of the number of tranches bid during the previous round and/or the amount of excess supply offered. Subsequently, an electronic withdrawal request to remove tranches from a product and reduce a maximum number bids the bidder can make in future rounds, and/or an electronic switch request to switch a bid to another product, is received. When the number of tranches bid are equal to or less than a certain threshold for each of the products, the auction may end.

Electronic withdrawal and/or bid switch requests for computer-based auctioning of basic generation services

A system and method of conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services (BGS) includes receiving bids by an application server host application for processing bids according to auction rules, for tranche units of BGS products, calculating next round prices, and sending round results to bidders, the subsequent round prices and a notice of the number of tranches bid during the previous round and/or the amount of excess supply offered. When available to a bidder, an extension request may be automatically granted extending the duration of the round and allowing all qualified bidders to submit new bids, and thereafter deducting the number of extensions available to the bidder. When the number of tranches bid are equal to or less than a certain threshold for each of the products, the auction may end and bidders are awarded an ending price for each of the products won.

Electronic extension requests to extend electronic bidding for qualified bidders for computer-based auctioning of basic generation services

A system and method of conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services (BGS) includes receiving bids by an application server host application for processing bids according to auction rules, for tranche units of BGS products, calculating next round prices, and sending round results to bidders, the subsequent round prices and a notice of the number of tranches bid during the previous round and/or the amount of excess supply offered. When a later round price is less than an earlier one an electronic switch request to switch a bid to another product is received. When the number of tranches bid are equal to or less than a certain threshold for each of the products, the auction may end and bidders are awarded an ending price for each of the products won.

Electronic bid switch requests for computer-based auctioning of basic generation services

A system and method for adjusting prices and/or quantities of products in a multi-product clock auction are disclosed. An auction manager module determines first prices for the products and subsequently receives first bids from one or more bidding devices based on the first prices. After receiving first bids using the first prices, the auction manager module modifies the first prices to generate adjusted prices if the first bids indicate a product is oversubscribed. After receiving second bids using the adjusted prices, if a product is undersubscribed, the auction manager module rolls back the adjusted price of the undersubscribed product to the first price. In one embodiment, the auction manager module also rolls back product quantities from the second bids to quantities from the first bids if such a modification alleviates product undersubscription.

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Tiburon, CA, United States of America

David J Salant