Patent ID: 11861687
Assignee: JERSEY CENTRAL POWER & LIGHT COMPANY
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 19:
20. A system configured to receive a withdrawal request or a switch request, the system comprising:
a web server computer system configured to receive, via secure technology, electronic bids from qualified bidders indicating at least one desired tranche of at least one of a plurality of products at a specified starting price for each of the at least one of the plurality of products during a first round;
an application server computer system configured to calculate a second round price for each of the at least one of the plurality of products for a second round 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 the first round;
application software configured to send a first round result of the first round to the qualified bidders, the first round result including the second round price for each of the at least one of the plurality of products and 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 for each of the plurality of products;
the web server computer system configured to receive electronic bids for at least one tranche of the at least one of the plurality of products from the qualified bidders during the second round and to receive a withdrawal request or a switch request from at least one of the qualified bidders; and
a database server computer system, in data communication with the web server computer system and the application server computer system;
the application software configured to:
facilitate determination of whether or not denying the withdrawal request or the switch request and retaining the withdrawn tranches will fully satisfy a tranche target;
facilitate to accept the withdrawal of the tranches from at least one of the plurality of denied switches when at least one of the denied switches from at least one particular product in the first round is outbid, wherein the at least one of the plurality of denied switches in the first round is released for bidding;
facilitate to deny the switch request when the number of tranches bid during the previous round for each of the at least one of the plurality of products is greater than the tranche target for that product and when the bid during the current round for that product and the withdrawn tranches for that product is less than the tranche target for that product;
determine when the number of tranches bid during the second round are equal to or less than a tranche target for each of the at least one of the plurality of products; and
when the number of tranches bid for the second round are equal to or less than a certain threshold for each of the at least one of the plurality of products, end the auction after the round and awarding winning bidders an ending price for each of the at least one of the plurality of products won by the winning bidders, wherein the 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 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, and
wherein a plurality of client browsers, the application server computer system, the web server computer system, the application software, and an auction database provide a multi-tier architecture and field-level database access control in combination with a constituent hierarchy, wherein the electronic bids are communicated over a plurality of tiers of the multi-tier architecture using secure technology, wherein the withdrawal request indicates a desire of the qualified bidders to remove a first indicated number of tranches from at least one particular product of the at least one of the plurality of products and to reduce a maximum number bids that the at least one of the qualified bidders is capable of making in future rounds, and wherein the removed tranches is retained when the number of tranches bid during a previous round for each of the at least one of the plurality of products is greater than the tranche target for that product and when the bid during a current round for that product is less than the tranche target for that product.