How to Place Long-Term Comfort Bids?

Modified on:: Thu, 7 Jul, 2022 at 3:33 PM

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Overview


Long-term comfort bids allow you to place a bid in auctions which have been published, but have not opened yet.


This means that you will not have to be online during the actual bidding round(s). This is especially useful for long-term auctions with many bidding rounds over several days.


Note: keep in mind that you can place long-term comfort bids (bidding curve) in monthly, quarterly and yearly auctions only.


For day-ahead comfort bid, refer to How to Place a Day-Ahead Comfort Bid? 


Instructions


To place a long-term comfort bid, do as follows:


1. Log into your PRISMA account;


2. Click on "Transport" at the top blue menu;


3. Under "Live and Upcoming Auctions," click on "Join Now" in the tile of the auctions which have been published, but are not open yet:



4. Find the auction for which you would like to place a comfort bid from the list. You can display either your favorite network points or all of them.



5. Enter the auction's details to define your comfort bid (bidding curve). Keep in mind that round 0.0 starts at a surcharge of 0.



6. After placing the first future bid, you are free to specify as many price steps along the bidding curve by clicking on "Add another surcharge".



Note: Keep in mind that the auction algorithm has predefined price steps and it makes sense to plan for the appropriate price steps at which your bid will change. 


For example, let's assume that you have an auction with big price steps of 25 cents and small price steps of 5 cents. It would make sense to plan for what happens at a 25 cent price step increase or at a 5 cent price step increase, but not at a 7 cent price step increase.


7. Remember that the surcharge increases, whereas the amount of capacity either remains the same or decreases as the rounds proceed.


8. After entering your price steps and amount, accept the TSO(s)'s GTCs.


9. Then, click on "Bid" and confirm it:



10. After successfully placing the bid, you will be shown a message stating that it went through. 



11. If you have set your notifications, you will also be notified via email of the placed bid.


12. After placing the bid, you can review your bidding curve in the Auction details screen.


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