HOW e-ROC WORKS
e-ROC auctions are usually run four times a year.
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Before each auction, NFPAS write to licensed electricity suppliers, inviting them to register to participate in the auction.
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Registered suppliers are given a username and security password to gain entry to the auction via the e-ROC website.
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Registered suppliers can view the lots on offer, then on the day of the auction, they log on to the e-ROC website and formally make a bid for individual lots, or groups of lots, on a price per ROC basis.
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Lots are awarded to the supplier who submits the highest bid, which is not bettered after a period of 30 minutes. Successful bidders are then notified via email.
Bidding takes place over a secure internet service. During the auction, all participants are able to see current highest bids, and final bid prices, though all participants are anonymous.
Extract from the e-ROC auction listing
