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> Introduction Introduction On-line auctions are usually held twice a year for commissioned projects and for those projects which are expected to be commissioned during the contract term of the On-Sale Agreement (1 April - 30 September and 1 October - 31 March). Owing to the large number of projects in the auction, it can run for several days. Registration for Generators NFFO / SRO generators do not have to register for the power auctions. Generators without such contracts who wish to sell their output or their ROCs through our auctions should visit www.nfpas-auctions.co.uk for more information on how to use the auction services. Supplier Registration To take part in the auctions, a prospective bidder must hold a valid supply licence pursuant to Section 6 of The Electricity Act 1989. Before an auction, licensed suppliers are invited to register their interest in participating in the auction round by completing a Registration Form and signing duplicate copies of on-sale agreements. The Registration Form requires the supplier to accept that details of projects for which it is subsequently the successful bidder will be inserted into the relevant agreement at a later date. In addition, the supplier confirms that it will comply with the terms of the Auction Code. Auction Code The Auction Code will normally be issued with the Registration Form and includes the following provisions: · Bidders must confirm that
they are empowered by their constitution · Each bid is an irrevocable
offer and, on acceptance of a successful bid, · Bids must be in terms of
pence per kWh and must be positive within the Bidders acknowledge that it is their responsibility to satisfy themselves as to the status of the output from the generation station and its renewables benefits. Auction Process Registered bidders are issued with a user name and security password to allow them to gain entry to the system. Bids by registered bidders will be accepted via a secure internet service with projects being awarded to the suppliers who submit the highest bid which is not bettered after a period of three hours or at the end of the auction. In the case of two or more equal bids, the supplier whose bid was processed first shall be deemed to have submitted the higher bid. Although bids can be made at any time during the auction, the three hour period is only active from 9:00am to 5:00pm. This means that if a bid is made at 4:00pm and not bettered by 11:00am the next day, it will become a successful bid and be awarded to the supplier who made the bid. All participants are able to see current highest bids submitted and final bid prices. Successful bidders can receive notification by e-mail that their bid has been accepted as the current highest bid. Suppliers are able to bid for individual contracts or groups of contracts - selected by technology band and/or GSP group. Successful bidders are sent signed copies of the relevant agreements which includes the necessary metering information to allow registration to take place with effect from 1 April or 1 October. e-ROC Auctions e-ROC auctions are held four times a year by NFPAS Ltd and are a well established method of selling Renewable Obligation Certificates (ROCs) which have been issued under Renewables Obligations of England & Wales, Scotland and Northern Ireland. The e-ROC auctions provide ROC holders a competitive and efficient means to sell their ROCs. Both standard and co-fired ROCs can be sold in the auctions. If you would like to find out how to sell your ROCs in these
auctions or |
Visit nfpas-auctions.co.uk for information on how you can sell your electricity or ROCs:
the next e-POWER auction
the next e-ROC auction |
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