The comfort bid functionality enables you to place future bids so that you don't have to wait for the auction to start or follow every round. As such, there are two types of comfort bids: (1) day-ahead comfort bids and (2) long-term comfort bids. To create a DA comfort bid, simply go to "Transport," then "Auctions," and click on "New Day-ahead Comfort Bid." Now, to create a long-term comfort bid, join the auction of your choice and follow the necessary steps.
Day-ahead Comfort Bids
a. Choose the network point at which you want the comfort bid to apply.
b. Choose the capacity category for which you want to bid.
c. Select the time period during which the comfort bid is to be active (Submission Interval). Throughout this period, the bid will be automatically placed in the auctions of that network point. Please note, however, that a comfort bid must be created before the auction starts.
d. Then, according to the rules of Uniform Price Algorithm, enter the minimum and maximum capacity you are willing to buy at a certain surcharge.
After you entered all the necessary information you can add optional specifications, e.g. the rollover functionality, to your comfort bid.
When you are finished, click Save & Continue.
Bearing in mind!
The submission interval does not refer to the product runtime but at the moment the auction takes place.
Long-term comfort bids
Unlike short-term auctions that start and are published at the same point in time, long term auctions are published and start at two different times.
For this reason, comfort bids for long-term auctions can only be placed by a user after an auction has been published on the platform.
- To create a comfort bid on a long term auction, you must first join the long term auction for which you want to place the comfort bid
- Use the 'Future Bid' section to create a comfort bid. Enter the capacity amount you would like to create a comfort bid for and a maximum surcharge for which you are willing to buy that capacity.
- Please note that if you create or change a comfort bid during an already running bidding round, your changes will only come into effect in the next bidding round. If you would like to place or change a bid for the currently running bidding round, place your bid manually.