Electronic withdrawal and/or bid switch requests 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 9886719
SERIAL NO

13487471

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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. 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.

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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 51
Lark, Frederick W Bernardsville, US 13 51
Loxley, Colin J Laurence Harbor, US 13 51
Meehan, Eugene Washington, US 13 51
Robinson, Anthony R Hillsborough, US 13 51
Salant, David Sausalito, US 14 57
Schirra, Gerald W Randolph, US 13 51
Taylor, Robert Chester Borough, US 192 3315

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