A bid for power

Clock auctions are a fairly recent method for utilities of procuring electricity from suppliers, but only New Jersey has an established process. Yet Ohio and Illinois are showing interest. Joe Marsh reports

A big advantage of US energy market deregulation is that power marketers and their supply customers have access to innovative methods for the sale and procurement of electricity. One such recent method is the clock auction, a type of reverse auction, whereby power suppliers submit online the amount of electricity they want to supply to utilities at the price set by the auction manager (a third party). Then during the auction the price of power ‘ticks’ down through bidding rounds until the

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