LongTerm Comfort Bids

Modified on:: Thu, 3 Jun, 2021 at 4:45 PM


Comfort bids allow you to place a bid for future auctions or bidding rounds without having to be online during the actual bidding round. It can ease the bidding process quite a lot for you, as you do not have to be online for each bidding round. This is especially useful for long-term auctions with many bidding rounds over several days.

What kind of auctions allows me to place comfort bids?

You can place comfort bids for any type of transport capacity auction except within-day auctions.

How do I place a comfort bid in long-term auctions?

To place a long-term comfort bid, you must first join the auction. 

You can place a bid even if the auction has not started. The normal bidding process applies, so the first bid you can place is for bidding round 0.0 with a surcharge of 0. After placing the first bid, you are free to specify as many price steps along the bidding curve. 

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, assuming 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 25 cent price step increases or at 5 cent price step increase, but not for 7 cent price step increase.

Step-by-step guide

As with any auction, as long as the auction is published but not yet finished, you can place your comfort bid. It does not matter whether the auction is in a bidding round or not yet opened.

Placing your bid

The auction is open and a bidding round is currently running.

After placing your bid for the current bidding round (if it is the first bidding round the surcharge is 0), you can specify the different price steps at which your bid would change.

The next bid price step you specify should be above the current surcharge price step and the capacity value must be either equal or less than in the previous price step. 

After entering your price step(s) and accepting the GTCs, you need to click "Bid", review your bid setup and click "Place Bid".

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

Simona is the author of this solution article.

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