About Power Auctions LLC

Power Auctions LLC is a provider of software, technology, consulting services and associated intellectual property for advanced auction applications. Over the last 11 years, the Power Auctions team has built up an unparalleled track record in the design and implementation of high-stakes clock auctions for many different organizations throughout the world.

Power Auctions LLC (PA) is a leading international provider of expert auction services and web-based auction software for high-stakes auctions. We have extensive experience in providing market analysis, auction design, implementation services, software, and auction bidding advice in the electricity, natural gas, resources and telecommunications sectors. Our auction experts have regularly worked with large corporations, government regulators and partner firms to ensure the auction design is consistent with client objectives and policies.

A unique characteristic of PA is the continuity and the seamless integration of its auction design, software development, and auction manager teams. Many of the critical team members have interacted continuously since 2001 in bringing the more than 100 high-stakes multi-round auctions to fruition.

Power Auctions LLC is known for a number of innovations. We implemented the first VPP auction (2001), first commercial simultaneous ascending-clock auction (2001), first greenhouse gas auction (2002), modernized the auction design for natural resources (2008), and our auction experts were two of the creators of the combinatorial clock design (2003). We continue to bring the latest in economic research to the forefront of practical auction implementations.

Our auctions vary in their size and complexity, from one to dozens of products. The common theme to our auctions is that they all involve high stakes and use powerful but simple techniques to improve auction efficiency. All of our auctions use our Power Auctions™ software platform, which is now in its third major release. It fully supports a variety of auction formats, including combinatorial clock auctions (also known as package-clock and clock-proxy auctions), SMRA, ascending clock auctions, descending clock auctions, and sealed-bid multi-unit auctions.

Industry Canada Spectrum Auctions

Power Auctions designed and implemented Industry Canada’s 700 MHz and 2.5 GHz spectrum auctions that were held in 2014 and 2015 respectively.  Our role was to provide consulting services on auction design and competition policy, assist with the public consultation process, provide the auction software, and assist with auction management and execution.  Both auctions were large Combinatorial Clock Auctions (CCAs) with multiple regions, generating a combined income of over $6 billion (Canadian), and both were completed successfully.  We are now working with Industry Canada to design and implement its 600 MHz Auction.

ODC Diamond Auctions

Power Auctions was engaged to design and implement auctions of rough diamonds for the Botswana government-owned Okavango Diamond Company (ODC). Our ascending clock auctions, which encompass 15% of Botswana’s diamond output, provide a fair and transparent mechanism for selling rough diamonds to the industry.  Since the success of the initial pilot auction in 2013, ten spot Auctions have typically been held each year, and Power Auctions continues to operate and support all ODC’s auctions.  We are now working with ODC to complement these with term auctions that will provide greater stability in supply to bidders. 

ISO New England Forward Capacity Auctions

Holyoke, MA – February 29, 2016 – Finalized results confirm that ISO New England’s annual capacity auction concluded at a lower price than the previous auction and with sufficient resources, including three new power plants, to meet demand in 2019-2020.   Full article

Power Auctions advised ISO New England Company, operator of the region’s bulk power operating system and wholesale electricity markets, on the auction design, developed the software, assisted with training bidders and has been conducting the yearly auctions.