The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Feb. 06, 2018
Filed:
Jun. 04, 2012
Anthony R. Robinson, Hillsborough, NJ (US);
Frederick W. Lark, Bernardsville, NJ (US);
Eugene Meehan, Washington, DC (US);
Chantale Lacasse, New York, NY (US);
David Salant, Sausalito, CA (US);
Colin J. Loxley, Laurence Harbor, NJ (US);
Gerald W. Schirra, Randolph, NJ (US);
Robert Taylor, Chester Borough, NJ (US);
Anthony R. Robinson, Hillsborough, NJ (US);
Frederick W. Lark, Bernardsville, NJ (US);
Eugene Meehan, Washington, DC (US);
Chantale Lacasse, New York, NY (US);
David Salant, Sausalito, CA (US);
Colin J. Loxley, Laurence Harbor, NJ (US);
Gerald W. Schirra, Randolph, NJ (US);
Robert Taylor, Chester Borough, NJ (US);
Public Service & Gas Company, Newark, NJ (US);
Atlantic City Electric Company, Wilmington, DE (US);
Jersey Central Power & Light Company, Akron, OH (US);
Rockland Electric Company, Pearl River, NY (US);
Abstract
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.