Power Auctions offers both auction design services and information technology services for advanced auction applications. The proprietary PowerAuction™ software platform has been used to implement a variety of high-stakes auctions in the electricity, gas, environmental and telecommunications sectors.
In the electricity sector, the platform is currently used to operate the quarterly EDF (Electricité de France) Generation Capacity Auctions in France, the quarterly Endesa-Iberdrola Virtual Power Plant Auctions in Spain, and the recent E.ON Virtual Power Plant Auction in Germany. The platform also implemented the Forward Capacity Auction for ISO-New England in the Northeastern US, an annual auction which in February 2008 procured $1.75 billion in electricity generating capacity.
In the gas sector, the platform is currently used to operate the annual E.ON Ruhrgas Gas Release Programme Auction in Germany, the annual E.ON Földgáz Trading Gas Release Programme Auction in Hungary, and the annual DONG Energy Gas Release Programme Auction in Denmark.
The software was also used to operate the Emissions Trading Scheme Auction in the United Kingdom — the world’s first auction for reducing greenhouse gas emissions. Power Auctions licenses eight patents related to dynamic auctions and has other patents pending.
On this web site, you will find short descriptions of the software and associated intellectual property that we offer, and short descriptions of our recent auction projects in electricity, gas, and greenhouse gas emission reductions.
Contact us for further information.Recent News
Articles on our proposed design for the US Treasury’s Troubled Assets Relief Program (TARP):Gaming the Financial System – Can a pair of professors and their graduate students make the $700 billion bailout work? Newsweek, 18 November 2008
Study Suggests Buying Toxic Assets Could Work NPR, 18 November 2008
How TARP Bailout Can Work Condé Nast Portfolio.com, 8 October 2008
Economists Look at Ways to Structure Auctions The Wall Street Journal, 25 September 2008, p. A4
Auction Design Critical for Rescue Plan, by Lawrence M. Ausubel and Peter Cramton, Economists’ Voice, Vol. 5, Issue 5, Article 5, September 2008
A Troubled Asset Reverse Auction, by Lawrence M. Ausubel and Peter Cramton, University of Maryland Working Paper, October 2008 and PowerPoint Presentation
Addendum—Auctions for Injecting Bank Capital, by Lawrence M. Ausubel and Peter Cramton, October 2008