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

Number of patents in Portfolio can not be more than 2000

United States of America Patent

PATENT NO 9811855
SERIAL NO

13545367

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Importance

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Abstract

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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.

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Patent Owner(s)

Patent OwnerAddress
PUBLIC SERVICE ELECTRIC & GAS COMPANY80 PARK PLAZA NEWARK NJ 07102
ROCKLAND ELECTRIC COMPANYONE BLUE HILL PLAZA PEARL RIVER NY 10965
ATLANTIC CITY ELECTRIC COMPANY800 KING STREET WILMINGTON DE 19801
JERSEY CENTRAL POWER & LIGHT COMPANY76 SOUTH MAIN STREET AKRON OH 44308

International Classification(s)

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Inventor(s)

Inventor Name Address # of filed Patents Total Citations
LaCasse, Chantale New York, US 13 52
Lark, Frederick W Bernardsville, US 13 52
Loxley, Colin J Laurence Harbor, US 13 52
Meehan, Eugene Washington, US 13 52
Robinson, Anthony R Hillsborough, US 13 52
Salant, David Sausalito, US 14 58
Schirra, Gerald W Randolph, US 13 52
Taylor, Robert Chester Borough, US 196 3707

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