PROJECT EXAMPLES

AES Ohio retained us to design and implement competitive bidding processes (CBPs) for the provision of retail electric generation service to AES Ohio Standard Service Offer (SSO) customers. In addition to developing and managing the auction processes and hosting the series of auctions, we assisted AES Ohio in its regulatory filings before the Public Utilities Commission of Ohio (PUCO).

As Auction Manager, we designed and implemented the optimal auction process given the power purchase arrangements (PPAs) to be sold for most of Alberta’s power plants. We developed the auction design and rules; customized our auction software; and hosted the auction on our platform. We coordinated with the client as well as with the Power Pool of Alberta, the Transmission Administrator of Alberta, and the Alberta Department of Economic Development. The PPA auction resulted in new entry of market participants and raised C$1.15 billion.

We were engaged by The World Bank to consult on alternative energy auction mechanisms. In our presentation at The World Bank, we focused on the principles and various applications of alternative bidding mechanisms in the energy industry, and how bidding mechanisms properly designed and implemented can achieve a range of policy goals.

We recommended improvements to the 500 MHz spectrum auction rules and advised ACMA on implementation. The auction introduced flexible, fully tradable spectrum licenses allowing any use, with winners able to divide, combine, and resell spectrum. Over 900 licenses were sold concurrently using a simultaneous ascending-price auction. The 500 MHz auction generated over A$1 million, exceeding expectations and aligning with results from other spectrum auctions.

We were retained by APINE to analyze “old energy” electricity auctions conducted by Brazil’s Ministry of Mines and Energy (MME). We evaluated the auction design and rules used as well as the results of the auctions, and we provided recommendations for improvements for future auctions.

Duke Energy Ohio, Inc. (DEO) retained us to design and implement competitive bidding processes (CBPs) for the provision of retail electric generation service to Duke Energy’s Standard Service Offer (SSO) customers. In addition to developing and managing the auction processes and hosting the series of auctions, we assisted Duke Energy in its regulatory filings before the Public Utilities Commission of Ohio (PUCO).

Duke Energy Ohio, Inc. (DEO) retained us to design and implement a request for proposal (RFP) process for the provision of retail electric generation service to Duke Energy’s Percentage of Income Payment Plan (PIPP) customers. In addition to developing and managing the process, we assisted Duke Energy in its regulatory filings before the Public Utilities Commission of Ohio (PUCO).

Duquesne Light Company (DLC) retained us to design and implement competitive procurement auction processes for the provision of full requirements Default Supply electric generation service to Duquesne’s Default Service customers. We developed and managed the auction processes and hosted the series of auctions.

The Public Utilities Commission of Ohio (PUCO) retained us to be PUCO’s Auction Monitor for the first two competitive bidding processes (CBPs) of FirstEnergy Ohio Utilities (FEOU) designed to procure generation services for FEOU’s Standard Service Offer (SSO) customers in Ohio. We subsequently was hired by FEOU as FEOU’s Auction Manager for future CBPs.

We developed advanced auction designs for the FCC’s spectrum auctions, enabling large and combinatorial auctions to run efficiently while meeting FCC objectives. The designs allow the FCC to choose the best format for each auction. We also built prototype software to test how different combinatorial‑auction rules performed versus existing FCC rules. Key steps included creating design specifications, algorithms, a database, coding, testing, experimentation, and documentation.

FirstEnergy Ohio Utilities (FEOU) retained us to design and implement competitive bidding processes (CBPs) for the provision of retail electric generation service to FEOU’s Standard Service Offer (SSO) customers. In addition to developing and managing the auction processes and hosting the series of auctions, we assisted FEOU in its regulatory filings before the Public Utilities Commission of Ohio (PUCO).

FirstEnergy’s Pennsylvania Utilities (FEPA) retained us to design and implement competitive procurement auction processes for the provision of full requirements Default Supply electric generation service to FEPA’s Default Service customers. In addition to developing and managing the auction processes and hosting the series of auctions, we assisted FEPA in its regulatory filings before the Pennsylvania Public Utility Commission.

On short notice, FirstEnergy Ohio Utilities (FEOU) needed to procure retail electric generation service for FEOU’s Standard Service Offer (SSO) customers. FEOU retained us in November to design and implement the bidding process. We developed and managed the request for proposal (RFP) process to successfully procure the supply of products covering the delivery period January through March.

FirstEnergy Ohio Utilities (FEOU) retained us to design and implement a request for proposal (RFP) process for the provision of retail electric generation service to FEOU’s Percentage of Income Payment Plan (PIPP) customers. In addition to developing and managing the process, we assisted FEOU in its regulatory filings before the Public Utilities Commission of Ohio (PUCO).

We were retained by FirstEnergy Solutions as the Auction Manager to design and conduct auctions to sell SO2 and NOx emission allowances. The allowances resulted from the U.S. Environmental Protection Agency’s Cross State Air Pollution Rule (CSAPR). Six products were offered for sale including SO2 Group-1 allowances, annual NOx allowances, and seasonal NOx allowances. We designed and managed the overall process and the clock auctions.

We were retained by The World Bank to observe and assess the fish market auctions in Kuwait, and to identify opportunities for improvements and to recommend the best approaches to achieve specified objectives. Based on monitoring the fish auction markets and interviewing participants, we provided a report with recommendations for improvements.

GE Energy Financial Services retained us to design and manage an open season bidding process to establish market rates and raise funding for installing variable frequency transformer (VFT) technology to increase transmission capacity from NJ to NYC. As Auction Manager, we developed and implemented the process, including product and auction design, bidder qualification, software, and hosting. The auction sold all capacity at a price that satisfied revenue requirements, and the Federal Energy Regulatory Commission (FERC) approved the open season.

Fonterra Dairy Co-Operative Group Limited, the world’s leading dairy exporter, needed better price transparency, forward price information, and improved price risk management. We designed and developed the trading platform Global Dairy Trade (GDT). The trading mechanism reflects sound economic and bidding theory and our extensive market design experience. We also served as independent Trading Manager from the first event in 2008 through May 2025, at which time GlobalDairyTrade Holdings Limited took over operations responsibility.

We were retained by Exelon/ComEd and the Illinois Commerce Commission to advise stakeholders in Illinois on alternative electricity procurement mechanisms. We provided presentations and advice to various stakeholders considering alternative procurement mechanisms on the design, planning, and conduct of electricity procurements including the role of Auction Managers and Auction Monitors.

Industry Canada retained us to design spectrum auctions and to provide auction software to conduct the spectrum auctions. We provided a simultaneous multiple round (SMR) auction design as well as a version of our Auction Management System (AMS) and Bid Tracking Software (BTS). Industry Canada relied on our design and system for its first spectrum auctions.

For COFETEL’s first spectrum auction (for paging licenses), we served as Auction Manager, providing auction design, rules, software, documentation, bidder training, and auction execution. We customized the simultaneous multiple-round (SMR) auction format for the Mexican telecommunications market. The paging auction was viewed as an important success and precedent. We later assisted the Mexican government in PCS, wireless access, MMDS, and microwave auctions, which raised 9.7 billion pesos (over US$1.1 billion).

We designed and developed the NFX electronic trading platform to connect buyers and sellers, provide trusted and transparent market-based reference prices, and enhance marketplace efficiency for wool and other natural fibre products. The NFX platform brings together buyers and sellers across the globe for wool and other natural fibres. We operate the trading events on our platform as the independent Trading Manager. This ensures an independent and neutral transactional price discovery process to support buyer and seller relationships.

We were retained to oversee and monitor Dominion East Ohio’s wholesale natural gas procurement auction. As the Auction Monitor, we advised on all aspects of the procurement process including reviewing the product definition; reviewing draft documents (RFPs, term sheets, contracts, etc.); monitoring the marketing, promotion, and communications activities; reviewing bidder qualification criteria and bid evaluation criteria; verifying the quantitative elements of bid evaluation; onsite monitoring and advice; and providing a post-auction report.

As Auction Monitor for annual Basic Generation Service (BGS) electricity procurements by the state’s electric distribution companies (EDCs), we advised on proposals, bidding processes, and auction design and rules; monitored marketing and information efforts; reviewed indicative bids, starting prices, and tranche sizes; monitored data exchanges and auction administration; watched for anticompetitive behavior; advised the NJ BPU on final results; and recommended improvements for future auctions.

We advised New Zealand’s Ministry of Economic Development (MED) on multiple spectrum auctions. Our technical review assessed spectrum amounts and types, lot sizes, post auction competition, spectrum rights structures, efficiency, revenue, and treatment of incumbents. Our auction design review recommended improvements and evaluated alternative designs and rules in terms of efficiency, risk, price discovery, competitiveness, gaming, administration, and revenue.

We were retained by the Nigerian Communications Commission to design and conduct an auction for Nigeria’s 2G mobile spectrum licenses. This project involved developing the auction design and rules, assistance on marketing and promoting the auction, determining bidder application criteria and reviewing bidder applications, conducting bidder workshops and a mock auction, and administering the auction with the NCC in Abuja.

In its agreement with the Dutch Competition Authority (NMa), Nuon needed to sell electricity through a virtual power plant (VPP) auction. Nuon retained us to assist it before the NMa and to design and implement the auction process. As the Auction Manager, we provided advice on product and contract design; developed the auction process; customized its electronic trading platform for the auction; and, hosted and managed the successful auction.

Ocean Spray retained us to design and implement an online marketplace to improved price transparency, market-based price information, and enhanced price and quantity risk management for customers. We developed the CranberryAuction electronic auction platform, including both a public information website and a secure bidding website. The auction mechanism was based on sound economic and bidding theory, as well as our extensive experience in bidding mechanisms and market designs. We also conducted the quarterly auctions.

We were retained by MME and The World Bank to provide recommendations on the designs for three types of electricity auctions for Brazil’s Ministry of Mines and Energy: auction designs for “old energy” (existing plants), “new energy” (greenfield plants), and balancing auctions (to adjust distribution companies’ loads to their contractual positions periodically).

We were engaged by RWE AG to assist in negotiations with the German Cartel Office (Bundeskartellamt). Under its agreement with the Federal Cartel Office, RWE needed to sell electricity through a series of auctions. As the Auction Manager, we met with the Cartel Office, advised on product and contract design, developed the auction design and rules, drafted documents, customized software, and managed the auctions.

For Trans-Elect and Wyoming-Colorado Intertie (WCI), we designed and managed an open season bidding process subject to approval by the Federal Energy Regulatory Commission (FERC), aimed at establishing market rates and raising funding for new transmission capacity from Wyoming to Colorado. As Auction Manager, our tasks included product design, documents, auction rules, bidder qualification, software, and hosting the auction. The auction sold the capacity at a price that satisfied revenue requirements, and FERC approved the open season.