Electronic extension requests to extend electronic bidding for qualified bidders for computer-based auctioning of basic generation services
First Claim
1. A computer implemented method of conducting a computer-based simultaneous, multiple round, descending clock auction for basic generation services, the method comprising the sequential, non-sequential, and sequence-independent steps of:
- (A) electronically receiving, using secure technology and a computer processor of a computer system to execute a web server computer system, bid data from a plurality of users at the web server computer system, wherein the bid data was entered using secure and encrypted procedures, wherein at least one code key is used for support or backup bidding, wherein the bid data comprises at least one bid for at least one tranche of at least one of a plurality of products at a specified starting price set by an Auction Manager during multiple rounds of bidding, wherein each of the at least one of the plurality of products comprises a basic generation service load of an electric distribution company for at least one of a given period, time, or term and wherein each of the at least one tranche represents a portion of the electric distribution company'"'"'s basic generation service load, wherein the at least one bid includes a time-stamp, the time-stamp being the time at which the at least one bid is logged into the web server computer system, wherein the validity of the bid data is based on a maximum number of allowable tranches that the plurality of users can bid on in a given round, for each EDC, for the auction, or pursuant to state and local rules;
(B) calculating, using the computer processor to execute an application server computer system hosting auction software for the simultaneous, multiple round, descending clock auction for basic generation services, wherein the application server computer system is in data communication with the web server computer system and the application server computer system and the web server computer system are maintained separately from an auction database server to maintain the physical security of the systems and server and provide server and network security for the auction software being executed on the application server computer system, wherein a plurality of client browsers, the application server computer system, the web server computer system, the auction software, and the auction database server provide a multi-tier architecture and field-level database access control in combination with a constituent hierarchy, wherein the bid data is communicated over a plurality of tiers of the multi-tier architecture using secure technology, a second round price for each of the at least one of the plurality of products for a second round of bidding based on the specified starting price and a number of tranches bid for each of the at least one of the plurality of products during a first round of bidding, wherein the second round price is lower than the specified starting price for any of the at least one of the plurality of products that received a number of tranches bid greater than a tranche target for that product during the first round of bidding and wherein the second round price is equal to the specified starting price for any of the at least one of the plurality of products that received a number of tranches bid one of equal to and less than the tranche target for that product during the first round of bidding;
(C) electronically transmitting, using the computer processor to execute the web server computer system, a first round result of the first round of bidding to qualified bidders, the first round result comprising the second round price for each of the at least one of the plurality of products and at least one of a notice of the number of tranches bid during the first round for each of the at least one of the plurality of products and an amount of excess supply offered during the first round of bidding for each of the plurality of products;
(D) determining, using the computer processor to execute the application server computer system, when the second round price for at least one of the plurality of products is less than the first round;
(E) constantly repeating steps (B)-(D), using the computer processor to execute the application server computer system, for at least one subsequent round of bidding following the second round, wherein a subsequent round price for each of the plurality of products for the at least one subsequent round of bidding is based on a previous round price of an immediately previous round of bidding and a number of tranches bid for each of the at least one of the plurality of products during the immediately previous round of bidding, wherein said application server computer system determines that the subsequent round price is lower than the previous round price for any of the at least one of the plurality of products that received a number of tranches bid greater than the tranche target for that product during the immediately previous round of bidding, wherein said application server computer system determines that the subsequent round price is equal to the previous round price for any of the at least one of the plurality of products that received a number of tranches bid one of equal to and less than the tranche target for that product during the immediately previous round of bidding, and wherein a round result is sent during step (C), the round result comprising the subsequent round price for each of the plurality of products and at least one of a notice of the number of tranches bid during the immediately previous round of bidding for each of the plurality of products and an amount of excess supply offered during the immediately previous round of bidding for each of the plurality of products;
(F) electronically receiving, using the computer processor to execute the web server computer system, an extension request from at least one of the qualified bidders before the round of bidding has ended;
(G) automatically, using the computer processor to execute the application server computer system, granting and extending a duration of the round of bidding responsive to the extension request before the round of bidding has ended, and wherein during the extension, all of the qualified bidders are capable of submitting new bids, and wherein a number of extensions remaining for the at least one of the qualified bidders who was granted the extension request is decremented;
(H) repetitively determining, using the computer processor to execute the application server computer system, when the number of tranches bid during a round of bidding are one of equal to and less than the tranche target for each of the at least one of the plurality of products; and
(I) when the number of tranches bid for the round of bidding are one of equal to and less than a certain threshold for each of the at least one of the plurality of products such that no further bidding can take place under auction rules, ending the auction, using the computer processor, after the round of bidding and awarding winning bidders at least one tranche having an ending price comprising one of a final price from a final round of bidding and a named exit price for each of the at least one of the plurality of products won by the winning bidders, wherein the winning bidders fulfill the at least one tranche associated with the electric distribution company'"'"'s basic service load by supplying energy requirements including at least one of capacity, energy, ancillary, and transmission services to be distributed to a customer requiring electricity via the basic generation services, wherein the winning bidders are determined based on the named exit price and, where bidders submitted the same named exit price, the bidders that submitted their bids earlier, based on the time-stamps of the bids, are the first to be allocated tranches.
6 Assignments
0 Petitions
Accused Products
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. 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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Citations
66 Claims
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1. A computer implemented method of conducting a computer-based simultaneous, multiple round, descending clock auction for basic generation services, the method comprising the sequential, non-sequential, and sequence-independent steps of:
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(A) electronically receiving, using secure technology and a computer processor of a computer system to execute a web server computer system, bid data from a plurality of users at the web server computer system, wherein the bid data was entered using secure and encrypted procedures, wherein at least one code key is used for support or backup bidding, wherein the bid data comprises at least one bid for at least one tranche of at least one of a plurality of products at a specified starting price set by an Auction Manager during multiple rounds of bidding, wherein each of the at least one of the plurality of products comprises a basic generation service load of an electric distribution company for at least one of a given period, time, or term and wherein each of the at least one tranche represents a portion of the electric distribution company'"'"'s basic generation service load, wherein the at least one bid includes a time-stamp, the time-stamp being the time at which the at least one bid is logged into the web server computer system, wherein the validity of the bid data is based on a maximum number of allowable tranches that the plurality of users can bid on in a given round, for each EDC, for the auction, or pursuant to state and local rules; (B) calculating, using the computer processor to execute an application server computer system hosting auction software for the simultaneous, multiple round, descending clock auction for basic generation services, wherein the application server computer system is in data communication with the web server computer system and the application server computer system and the web server computer system are maintained separately from an auction database server to maintain the physical security of the systems and server and provide server and network security for the auction software being executed on the application server computer system, wherein a plurality of client browsers, the application server computer system, the web server computer system, the auction software, and the auction database server provide a multi-tier architecture and field-level database access control in combination with a constituent hierarchy, wherein the bid data is communicated over a plurality of tiers of the multi-tier architecture using secure technology, a second round price for each of the at least one of the plurality of products for a second round of bidding based on the specified starting price and a number of tranches bid for each of the at least one of the plurality of products during a first round of bidding, wherein the second round price is lower than the specified starting price for any of the at least one of the plurality of products that received a number of tranches bid greater than a tranche target for that product during the first round of bidding and wherein the second round price is equal to the specified starting price for any of the at least one of the plurality of products that received a number of tranches bid one of equal to and less than the tranche target for that product during the first round of bidding; (C) electronically transmitting, using the computer processor to execute the web server computer system, a first round result of the first round of bidding to qualified bidders, the first round result comprising the second round price for each of the at least one of the plurality of products and at least one of a notice of the number of tranches bid during the first round for each of the at least one of the plurality of products and an amount of excess supply offered during the first round of bidding for each of the plurality of products; (D) determining, using the computer processor to execute the application server computer system, when the second round price for at least one of the plurality of products is less than the first round; (E) constantly repeating steps (B)-(D), using the computer processor to execute the application server computer system, for at least one subsequent round of bidding following the second round, wherein a subsequent round price for each of the plurality of products for the at least one subsequent round of bidding is based on a previous round price of an immediately previous round of bidding and a number of tranches bid for each of the at least one of the plurality of products during the immediately previous round of bidding, wherein said application server computer system determines that the subsequent round price is lower than the previous round price for any of the at least one of the plurality of products that received a number of tranches bid greater than the tranche target for that product during the immediately previous round of bidding, wherein said application server computer system determines that the subsequent round price is equal to the previous round price for any of the at least one of the plurality of products that received a number of tranches bid one of equal to and less than the tranche target for that product during the immediately previous round of bidding, and wherein a round result is sent during step (C), the round result comprising the subsequent round price for each of the plurality of products and at least one of a notice of the number of tranches bid during the immediately previous round of bidding for each of the plurality of products and an amount of excess supply offered during the immediately previous round of bidding for each of the plurality of products; (F) electronically receiving, using the computer processor to execute the web server computer system, an extension request from at least one of the qualified bidders before the round of bidding has ended; (G) automatically, using the computer processor to execute the application server computer system, granting and extending a duration of the round of bidding responsive to the extension request before the round of bidding has ended, and wherein during the extension, all of the qualified bidders are capable of submitting new bids, and wherein a number of extensions remaining for the at least one of the qualified bidders who was granted the extension request is decremented; (H) repetitively determining, using the computer processor to execute the application server computer system, when the number of tranches bid during a round of bidding are one of equal to and less than the tranche target for each of the at least one of the plurality of products; and (I) when the number of tranches bid for the round of bidding are one of equal to and less than a certain threshold for each of the at least one of the plurality of products such that no further bidding can take place under auction rules, ending the auction, using the computer processor, after the round of bidding and awarding winning bidders at least one tranche having an ending price comprising one of a final price from a final round of bidding and a named exit price for each of the at least one of the plurality of products won by the winning bidders, wherein the winning bidders fulfill the at least one tranche associated with the electric distribution company'"'"'s basic service load by supplying energy requirements including at least one of capacity, energy, ancillary, and transmission services to be distributed to a customer requiring electricity via the basic generation services, wherein the winning bidders are determined based on the named exit price and, where bidders submitted the same named exit price, the bidders that submitted their bids earlier, based on the time-stamps of the bids, are the first to be allocated tranches. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24)
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25. A system for conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services, the system comprising:
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a web server for receiving bid data from a plurality of users, wherein the bid data was entered using secure and encrypted procedures, wherein at least one code key is used for support or backup bidding, wherein the bid data comprises at least one bid for at least one tranche of at least one of a plurality of products at a specified starting price set by an Auction Manager during multiple rounds of bidding, wherein each of the at least one of the plurality of products comprises a basic generation service load of an electric distribution company for a given period of time or term and wherein each of the at least one tranche represents a portion of the electric distribution company'"'"'s basic generation service load; an application server, in data communication with the web server, wherein the application server hosts application software, the application server and the web server are maintained separately from an auction database server to maintain the physical security of the servers and provide server and network security for the auction software being executed on the application server, wherein a plurality of client browsers, the application server, the web server, the auction software, and the auction database server provide a multi-tier architecture and field-level database access control in combination with a constituent hierarchy, wherein the bid data is communicated over a plurality of tiers of the multi-tier architecture using secure technology, and wherein the application software is configured to be executed by at least one computer and includes the following computer executable instructions; (A) electronically receiving, using a computer processor of a computer system to execute a web server computer system, bid data from a plurality of users at the web server computer system, wherein the bid data comprises at least one bid for at least one tranche of at least one of a plurality of products at a specified starting price set by an Auction Manager during multiple rounds of bidding, wherein each of the at least one of the plurality of products comprises a basic generation service load of an electric distribution company for at least one of a given period of time or term and wherein each of the at least one tranche represents a portion of the electric distribution company'"'"'s basic generation service load; (B) calculating, using the computer processor to execute the application server computer system hosting the application software for simultaneous, multiple round, descending clock auction for basic generation services, wherein the application server is in data communication with the web server computer system, a second round price for each of the at least one of the plurality of products for a second round of bidding based on the specified starting price and a number of tranches bid for each of the at least one of the plurality of products during a first round of bidding, wherein the second round price is lower than the specified starting price for any of the at least one of the plurality of products that received a number of tranches bid greater than a tranche target for that product during the first round of bidding and wherein the second round price is equal to the specified starting price for any of the at least one of the plurality of products that received a number of tranches bid one of equal to and less than the tranche target for that product during the first round of bidding, (C) electronically transmitting, using the computer processor to execute the web server computer system, a first round result of the first round of bidding to qualified bidders, the first round result comprising the second round price for each of the at least one of the plurality of products and at least one of a notice of the number of tranches bid during the first round for each of the at least one of the plurality of products and an amount of excess supply offered during the first round of bidding for each of the plurality of products; (D) determining, using the computer processor to execute the application server computer system, when the second round price for at least one of the plurality of products is less than the first round; (E) constantly repeating steps (B)-(D), using the computer processor to execute the application server computer system, for at least one subsequent round of bidding following the second round, wherein a subsequent round price for each of the plurality of products for the at least one subsequent round of bidding is based on a previous round price of an immediately previous round of bidding and a number of tranches bid for each of the at least one of the plurality of products during the immediately previous round of bidding, wherein the subsequent round price is lower than the previous round price for any of the at least one of the plurality of products that received a number of tranches bid greater than the tranche target for that product during the immediately previous round of bidding, wherein the subsequent round price is equal to the previous round price for any of the at least one of the plurality of products that received a number of tranches bid one of equal to and less than the tranche target for that product during the immediately previous round of bidding, and wherein a round result is sent during step (C), the round result comprising the subsequent round price for each of the plurality of products and at least one of a notice of the number of tranches bid during the immediately previous round of bidding for each of the plurality of products and an amount of excess supply offered during the immediately previous round of bidding for each of the plurality of products; (F) electronically receiving, using the computer processor to execute the application server computer system, an extension request from at least one of the qualified bidders before the round of bidding has ended; (G) automatically, using the computer processor to execute the application server computer system, granting and extending a duration of the round of bidding responsive to the extension request before the round of bidding has ended, and wherein during the extension, all of the qualified bidders are capable of submitting new bids, and wherein a number of extensions remaining for the at least one of the qualified bidders who was granted the extension request is decremented; (H) repetitively determining, using the computer processor to execute the application server computer system, when the number of tranches bid during a round of bidding are one of equal to and less than the tranche target for each of the at least one of the plurality of products; and (I) when the number of tranches bid for the round of bidding are one of equal to and less than a certain threshold for each of the at least one of the plurality of products such that no further bidding can take place under auction rules, ending the auction after the round of bidding and awarding winning bidders at least one tranche having an ending price comprising one of a final price from a final round of bidding and a named exit price for each of the at least one of the plurality of products won by the winning bidders, wherein the winning bidders fulfill the at least one tranche associated with the electric distribution company'"'"'s basic service load by supplying energy requirements including at least one of capacity, energy, ancillary, and transmission services to be distributed to a customer requiring electricity via the basic generation services. - View Dependent Claims (26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38)
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39. A computer implemented method of conducting a computer-based simultaneous, multiple round, descending clock auction for basic generation services, the method comprising the sequential, non-sequential, and sequence-independent steps of:
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(A) electronically receiving, using secure technology and a computer processor of a computer system to execute a web server computer system, bid data at the web server computer system from a plurality of users located at a client browser in a first tier, wherein the bid data was entered using secure and encrypted procedures, wherein at least one code key is used for support or backup bidding, wherein the web server computer system is in a second tier in data communication with an application server computer system having application software for the simultaneous, multiple round, descending clock auction for basic generation service in a third tier, and wherein the application server computer system is configured to read and write electronic bids submitted from the plurality of users to an auction database server in a fourth tier, wherein the bid data is communicated over the tiers using secure technology, and wherein the bid data comprises at least one bid for at least one tranche of at least one of a plurality of products at a specified starting price set by an Auction Manager during multiple rounds of bidding, wherein each of the at least one of the plurality of products comprises a basic generation service load of an electric distribution company for at least one of a given period of time or term and wherein each of the at least one tranche represents a portion of the electric distribution company'"'"'s basic generation service load; (B) generating, using the computer processor to execute the application server computer system hosting auction software for the simultaneous, multiple round, descending clock auction for basic generation services, a second round price for each of the at least one of the plurality of products for a second round of bidding based on the specified starting price and a number of tranches bid for each of the at least one of the plurality of products during a first round of bidding, wherein the application server computer system and the web server computer system are maintained separately from an auction database server to maintain the physical security of the systems and server and provide server and network security for the auction software being executed on the application server computer system, wherein a plurality of client browsers, the application server computer system, the web server computer system, the auction software, and the auction database server provide a multi-tier architecture and field-level database access control in combination with a constituent hierarchy; (C) electronically transmitting, using the computer processor to execute the web server computer system, a first round result of the first round of bidding to qualified bidders, the first round result comprising the second round price for each of the at least one of the plurality of products and at least one of a notice of the number of tranches bid during the first round for each of the at least one of the plurality of products and an amount of excess supply offered during the first round of bidding for each of the plurality of products; (D) determining, using the computer processor to execute the application server computer system, when the second round price for at least one of the plurality of products is less than the first round; (E) constantly repeating steps (B)-(D), using the computer processor to execute the application server computer system, for at least one subsequent round of bidding following the second round, and wherein a round result is sent during step (C), the round result comprising the subsequent round price for each of the plurality of products and at least one of a notice of the number of tranches bid during the immediately previous round of bidding for each of the plurality of products and an amount of excess supply offered during the immediately previous round of bidding for each of the plurality of products; (F) electronically receiving, using the computer processor to execute the web server computer system, an extension request from at least one of the qualified bidders before the round of bidding has ended; (G) repetitively determining, using the computer processor to execute the application server computer system, when the number of tranches bid during a round of bidding are one of equal to and less than the tranche target for each of the at least one of the plurality of products; and (H) when the number of tranches bid for the round of bidding are one of equal to and less than a certain threshold for each of the at least one of the plurality of products such that no further bidding can take place under auction rules, ending the auction, using the computer processor, after the round of bidding and awarding winning bidders at least one tranche having an ending price comprising one of a final price from a final round of bidding and a named exit price for each of the at least one of the plurality of products won by the winning bidders, wherein the winning bidders fulfill the at least one tranche associated with the electric distribution company'"'"'s basic service load by supplying energy requirements including at least one of capacity, energy, ancillary, and transmission services to be distributed to a customer requiring electricity via the basic generation services. - View Dependent Claims (40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58)
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59. A system for conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services, the system comprising:
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a web server for receiving bid data from a plurality of users, wherein the bid data was entered using secure and encrypted procedures, wherein at least one code key is used for support or backup bidding, wherein the bid data comprises at least one bid for at least one tranche of at least one of a plurality of products at a specified starting price set by an Auction Manager during multiple rounds of bidding, wherein each of the at least one of the plurality of products comprises a basic generation service load of an electric distribution company for a given period of time or term and wherein each of the at least one tranche represents a portion of the electric distribution company'"'"'s basic generation service load; a plurality of client browsers, wherein the plurality client browsers enable the plurality of users to submit the bid data to the web server over a wide-area network, wherein the wide-area network enables communication between the plurality of client browsers and the web server; an application server, in data communication with the web server, wherein the application server hosts application software, wherein the application server and the web server are maintained separately from an auction database server to maintain the physical security of the servers and provide server and network security for the auction software being executed on the application server, wherein a plurality of client browsers, the application server, the web server, the auction software, and the auction database server provide a multi-tier architecture and field-level database access control in combination with a constituent hierarchy, wherein the bid data is communicated over a plurality of tiers of the multi-tier architecture using secure technology, and wherein the application software is configured to be executed by at least one computer and includes the following computer executable instructions; (A) electronically receiving, using a computer processor of a computer system to execute a web server computer system, bid data from a plurality of users at the web server computer system, wherein the bid data comprises at least one bid for at least one tranche of at least one of a plurality of products at a specified starting price set by an Auction Manager during multiple rounds of bidding, wherein each of the at least one of the plurality of products comprises a basic generation service load of an electric distribution company for a given period of time or term and wherein each of the at least one tranche represents a portion of the electric distribution company'"'"'s basic generation service load; (B) generating, using the computer processor to execute an application server computer system hosting auction software for the simultaneous, multiple round, descending clock auction for basic generation services, wherein the application server computer system is in data communication with the web server computer system, a second round price for each of the at least one of the plurality of products for a second round of bidding based on the specified starting price and a number of tranches bid for each of the at least one of the plurality of products during a first round of bidding, (C) electronically transmitting, using the computer processor to execute the web server computer system, a first round result of the first round of bidding to qualified bidders, the first round result comprising the second round price for each of the at least one of the plurality of products and at least one of a notice of the number of tranches bid during the first round for each of the at least one of the plurality of products and an amount of excess supply offered during the first round of bidding for each of the plurality of products; (D) determining, using the computer processor to execute the application server computer system, when the second round price for at least one of the plurality of products is less than the first round; (E) constantly repeating steps (B)-(D), using the computer processor to execute the application server computer system, for at least one subsequent round of bidding following the second round, wherein a subsequent round price for each of the plurality of products for the at least one subsequent round of bidding is based on a previous round price of an immediately previous round of bidding and a number of tranches bid for each of the at least one of the plurality of products during the immediately previous round of bidding; (F) electronically receiving, using the computer processor to execute the web server computer system, an extension request from at least one of the qualified bidders before the round of bidding has ended; (G) automatically, using the computer processor to execute the application server computer system, granting and extending a duration of the round of bidding responsive to the extension request before the round of bidding has ended, and wherein during the extension, all of the qualified bidders are capable of submitting new bids, and wherein a number of extensions remaining for the at least one of the qualified bidders who was granted the extension request is decremented; (H) repetitively determining, using the computer processor to execute the application server computer system, when the number of tranches bid during a round of bidding are one of equal to and less than the tranche target for each of the at least one of the plurality of products; and (I) when the number of tranches bid for the round of bidding are one of equal to and less than a certain threshold for each of the at least one of the plurality of products such that no further bidding can take place under auction rules, ending the auction after the round of bidding and awarding winning bidders at least one tranche having an ending price comprising one of a final price from a final round of bidding and a named exit price for each of the at least one of the plurality of products won by the winning bidders, wherein the winning bidders fulfill the at least one tranche associated with the electric distribution company'"'"'s basic service load by supplying energy requirements including at least one of capacity, energy, ancillary, and transmission services to be distributed to a customer requiring electricity via the basic generation services; a system login computer, wherein the system login computer logs all hits to at least one of the web server and the application server; a back-up server, wherein the back-up server provides back-up support and maintenance for at least the web server and the application server. - View Dependent Claims (60, 61, 62, 63, 64)
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65. A system for conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services, the system comprising:
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a web server for receiving bid data from a plurality of users, wherein the bid data was entered using secure and encrypted procedures, wherein at least one code key is used for support or backup bidding, wherein the bid data comprises at least one bid for at least one tranche of at least one of a plurality of products at a specified starting price set by an Auction Manager during multiple rounds of bidding, wherein each of the at least one of the plurality of products comprises a basic generation service load of an electric distribution company for a given period of time or term and wherein each of the at least one tranche represents a portion of the electric distribution company'"'"'s basic generation service load; a plurality of client browsers, wherein the plurality client browsers enable the plurality of users to submit the bid data to the web server over a wide-area network, wherein the wide-area network enables communication between the plurality of client browsers and the web server; an application server, in data communication with the web server, wherein the application server and the web server are maintained separately from an auction database server to maintain the physical security of the servers and provide server and network security for the auction software being executed on the application server, wherein a plurality of client browsers, the application server, the web server, the auction software, and the auction database server provide a multi-tier architecture and field-level database access control in combination with a constituent hierarchy, wherein the bid data is communicated over a plurality of tiers of the multi-tier architecture using secure technology, wherein the application server hosts application software executed by at least one computer and includes computer executable instructions, and wherein; (A) said application server electronically receiving, using a computer processor of a computer system to execute a web server computer system, bid data from a plurality of users at the web server computer system, wherein the bid data comprises at least one bid for at least one tranche of at least one of a plurality of products at a specified starting price during multiple rounds of bidding, wherein each of the at least one of the plurality of products comprises a basic generation service load of an electric distribution company for a given period of time or term and wherein each of the at least one tranche represents a portion of the electric distribution company'"'"'s basic generation service load; (B) said application server including means for generating a second round price for each of the at least one of the plurality of products for a second round of bidding based on the specified starting price and a number of tranches bid for each of the at least one of the plurality of products during a first round of bidding, (C) said application server including means for electronically transmitting a first round result of the first round of bidding to qualified bidders, the first round result comprising the second round price for each of the at least one of the plurality of products and at least one of a notice of the number of tranches bid during the first round for each of the at least one of the plurality of products and an amount of excess supply offered during the first round of bidding for each of the plurality of products; (D) said application server including means for determining when the second round price for at least one of the plurality of products is less than the first round; (E) said application server including means for constantly repeating steps (B)-(D) for at least one subsequent round of bidding following the second round, wherein a subsequent round price for each of the plurality of products for the at least one subsequent round of bidding is based on a previous round price of an immediately previous round of bidding and a number of tranches bid for each of the at least one of the plurality of products during the immediately previous round of bidding; (F) said application server electronically receiving, using the computer processor to execute the web server computer system, an extension request from at least one of the qualified bidders before the round of bidding has ended; (G) said application server automatically, using the computer processor to execute the application server computer system, granting and extending a duration of the round of bidding responsive to the extension request before the round of bidding has ended, and wherein during the extension, all of the qualified bidders are capable of submitting new bids, and wherein a number of extensions remaining for the at least one of the qualified bidders who was granted the extension request is decremented; (H) said application server including means for repetitively determining when the number of tranches bid during a round of bidding are one of equal to and less than the tranche target for each of the at least one of the plurality of products; and (I) when the number of tranches bid for the round of bidding are one of equal to and less than a certain threshold for each of the at least one of the plurality of products such that no further bidding can take place under auction rules, said application server including means for ending the auction after the round of bidding and awarding winning bidders at least one tranche having an ending price comprising one of a final price from a final round of bidding and a named exit price for each of the at least one of the plurality of products won by the winning bidders, wherein the winning bidders fulfill the at least one tranche associated with the electric distribution company'"'"'s basic service load by supplying energy requirements including at least one of capacity, energy, ancillary, and transmission services to be distributed to a customer requiring electricity via the basic generation services; a system login computer, wherein the system login computer logs all hits to at least one of the web server and the application server; a back-up server, wherein the back-up server provides back-up support and maintenance for at least the web server and the application server.
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66. A system for conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services, the system comprising:
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a means for receiving bid data from a plurality of users using secure technology, wherein the bid data was entered using secure and encrypted procedures, wherein at least one code key is used for support or backup bidding, wherein the bid data comprises at least one bid for at least one tranche of at least one of a plurality of products at a specified starting price set by an Auction Manager during multiple rounds of bidding, wherein each of the at least one of the plurality of products comprises a basic generation service load of an electric distribution company for a given period of time or term and wherein each of the at least one tranche represents a portion of the electric distribution company'"'"'s basic generation service load; a means for enabling the plurality of users to submit the bid data to the means for receiving bid data over a wide-area network, wherein the wide-area network enables communication between the means for enabling and the means for receiving bid data; a means for hosting application software executed by at least one computer and in data communication with the means for receiving bid data, wherein the means for hosting and the means for receiving bid data are maintained separately from an auction database server to maintain the physical security of the systems and servers and provide server and network security for the auction software being executed on the means for hosting, wherein a plurality of client browsers, the means for hosting, the means for receiving bid data, the auction software, and the auction database server provide a multi-tier architecture and field-level database access control in combination with a constituent hierarchy, wherein the bid data is communicated over a plurality of tiers of the multi-tier architecture using secure technology, wherein the means for hosting includes computer executable instructions wherein; (A) said means for hosting electronically receives bid data from a plurality of users at the web server computer system, wherein the bid data comprises at least one bid for at least one tranche of at least one of a plurality of products at a specified starting price during multiple rounds of bidding, wherein each of the at least one of the plurality of products comprises a basic generation service load of an electric distribution company for a given period of time or term and wherein each of the at least one tranche represents a portion of the electric distribution company'"'"'s basic generation service load; (B) said means for hosting includes means for generating a second round price for each of the at least one of the plurality of products for a second round of bidding based on the specified starting price and a number of tranches bid for each of the at least one of the plurality of products during a first round of bidding; (C) said means for hosting includes means for electronically transmitting a first round result of the first round of bidding to qualified bidders, the first round result comprising the second round price for each of the at least one of the plurality of products and at least one of a notice of the number of tranches bid during the first round for each of the at least one of the plurality of products and an amount of excess supply offered during the first round of bidding for each of the plurality of products; (D) said means for hosting includes means for determining when the second round price for at least one of the plurality of products is less than the first round; (E) said means for hosting including means for constantly repeating steps (B)-(D) for at least one subsequent round of bidding following the second round;
wherein a subsequent round price for each of the plurality of products for the at least one subsequent round of bidding is based on a previous round price of an immediately previous round of bidding and a number of tranches bid for each of the at least one of the plurality of products during the immediately previous round of bidding;(F) said means for hosting electronically receives an extension request from at least one of the qualified bidders before the round of bidding has ended; (G) said means for hosting automatically grants and extends a duration of the round of bidding responsive to the extension request before the round of bidding has ended; and
wherein during the extension;
all of the qualified bidders are capable of submitting new bids; and
wherein a number of extensions remaining for the at least one of the qualified bidders who was granted the extension request is decremented;(H) said means for hosting includes means for repetitively determining when the number of tranches bid during a round of bidding are one of equal to and less than the tranche target for each of the at least one of the plurality of products; and (I) when the number of tranches bid for the round of bidding are one of equal to and less than a certain threshold for each of the at least one of the plurality of products such that no further bidding can take place under auction rules, said means for hosting includes means for ending the auction after the round of bidding and awarding winning bidders at least one tranche having an ending price comprising one of a final price from a final round of bidding and a named exit price for each of the at least one of the plurality of products won by the winning bidders, wherein the winning bidders fulfill the at least one tranche associated with the electric distribution company'"'"'s basic service load by supplying energy requirements including at least one of capacity, energy, ancillary, and transmission services to be distributed to a customer requiring electricity via the basic generation services; a means for logging all hits to at least one of the means for receiving bid data and the means for hosting, a means for providing back-up support and maintenance for at least the means for receiving bid data and the means for hosting.
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Specification