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"The Most Experienced Auction Experts"
Our engagements span the globe and include corporations, governments, regulatory agencies, and international agencies. Optimal Auctions' team of professionals is among the most experienced in the auction consulting industry. Our auction team members have participated in over $105 billion worth of transactions and our experience in supporting the most advanced online expert auctions has helped entities around the world realize the full potential of leading economics expertise, technology, and best business practices.
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Electricity Auction 2006-2008
Optimal was selected via a competitive RFP to supply two utilities with expert auctions services including: design review of the auction rules, the development of a software specification faithful to the auction rules, the OptimalCommerceTM software platform, customizations to OptimalCommerceTM, a comprehensive software testing program, interfaces to the software for use by regulators with oversight responsibilities for the auction, client and bidder training session support, event security and results monitoring, and post-auction analysis. Optimal contributed a solution to a combinatorial clearing problem of getting the best prices while adhering to strict credit constraints.
The auctions will determine wholesale prices in different rate classes accurately based on a process that harnesses powerful incentives to stabilize and minimize power supply costs. The auctions will set market values for electricity and place all suppliers on an equal footing on behalf of millions of electricity consumers.
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New Jersey Basic Generation Services 2002-2006
Optimal Auctions collaborated in the rules design, event management and implementation of an expert (clock) auction on behalf of PSE&G, JCP&L, ACECO and RECO purchasing full requirements in one-year and three-year contracts for total of 18,000MW of generation annually. Optimal reviewed and updated the auction rules and customized our proprietary OptimalCommerceTM software platform. Optimal Auctions provided expert auction software, supported bidder training sessions, event security and results monitoring, and post-auction analysis.
"The fact that the auction results mean that the majority of New Jersey's residential customers will pay less is good news. I commend President Fox and the NJ Board of Public Utilities for continuing to support my administration's goal to put the needs of New Jersey's families first." - New Jersey Governor James E. McGreevey
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Medipent Receivables Placement 2005 - Present
Optimal wrote the auction rules and customized OptimalCommerceTM for Medipent’s auctions of contracts with collection agencies to service delinquent healthcare receivables.
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Global Debt Auctions 2006 - Present
Optimal wrote the auction rules and customized OptimalCommerceTM for Medipent’s auctions of contracts with collection agencies to service delinquent healthcare receivables.
Optimal wrote the auction rules and customized OptimalCommerceTM for Global Debt Auctions’ sale of delinquent accounts receivables or bad debt. Global Debt Auctions uses a modified Simultaneous Round Auction with handicapping and includes an automated workflow process for debt sellers and buyers. Access to information is tiered to protect sellers’ strategic customer data and the process ensures that only sincere parties participate in the auctions.
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DFS Portfolio Auction 2004
Optimal Auctions designed, managed and implemented an expert auction on behalf of three trusts holding commercial and retail medical receivables including judgments, complaints, consumer receivables, interest and fees. Optimal Auctions provided comprehensive auction management service including auction rules, regulatory and legal support, a document management solution, marketing, a bidder information session, application processing, a tutorial, training sessions, war-room setup, our proprietary OptimalCommerce Software, event monitoring, and post-auction analysis.
"The DFS Portfolio auction exceeded our expectations. After using Optimal Auctions' expert auction process it is clear to me that not all auction consultants or auction software are alike. I highly recommend their process for pricing receivables and for ensuring a fair, competitive, and arms-length transaction with all the participants."
- Al Kirchhein, Scouler Andrews LLC
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Texas Capacity Auctions, Quarterly Auctions 2nd half 2002-2005
The three largest power generating companies TX Genco, TXU and AEP are selling 15% of their capacity (est. $2B) through auctions mandated by the Public Utility Commission of Texas to help transition to a deregulated market. Optimal Auctions wrote new auction regulations and provided written and oral testimony in support of the regulations, pulled together all stakeholders into a consensus and provided a turn-key solution for the consortium of utilities.
"We adopted Optimal Auctions' recommendation to use expert auctions to increase competition for electricity procurement and we are pleased with the results." - Commissioner Brett Perlman, Texas Public Utility Commission
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ISO New England, NY ISO and PJM
Optimal Auctions participated in a multi-disciplinary team to study and design the capacity market for the three Independent System Operators (ISOs) in the Northeast. The capacity market will provide incentives for building new generation that will be paid by the load serving entities (est. $4B/yr).
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Singapore 3G
Optimal Auctions worked closely with our partner to design specific auction rules. Optimal Auctions designed and implemented auction software based on those rules, and assisted with analyzing inconsistencies in the rules to help iron them out prior to the auction. Prepared bidder training, onsite installation and onsite operation as well as assisting with the setup of remote installation.
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Austrian 3G & Germany 3G
Optimal Auctions designed and customized our OptimalCommerce Software platform to replicate the government auction in order to assist bidders with the development of their bidding strategies. In addition, Optimal Auctions developed a separate bid tracking software, to gather and process bid information to assist with bidder decision making during the auction. Auction was for multiple licenses, where the bidders were required to win either two or three of the licenses.
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Italy 3G
The Italian Ministry of Communications auctioned 3G mobile wireless and Broadband spectrum licenses, with an auction value of approximately $13 billion. Optimal Auctions customized, tested, and implemented our OptimalCommerce Software platform for the Italian 3G auction, based on auction rules developed in conjunction with economic consulting firm NERA.
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Guatemala
Market design and SMR auction software developed for the Secretary of International Communications
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Alberta Electricity Auction
The Alberta government auctioned the electrical output from 11 of the province's generating plants. The auction was for full requirements annual contracts for multiple years with individual companies buying from the government. Total value of contracts awarded was $2B. Optimal Auctions assisted an influential an ultimately successful bidder with analyzing the auction rules, auction day planning, and onsite real-time bid strategy. Optimal Auctions implemented software according to the Alberta PPA auction rules and the software was used to assist a client's executives to refine their bidding strategy before and during the auction. Optimal Auctions assisted the client in analyzing the rules to formulate a strategy that would safely maximize the client's chance of winning and at the same time reduce their risk portfolio.
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Italy LMDS
Optimal Auctions collaborated on the design of the auction rules and implemented expert auction software for Italy's LMDS auction where the government sold multiple licenses in multiple regions in two frequency bands.
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Canada
Auction software developed for Industry Spectrum Management Agency
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Mexico
Market design and SMR software developed for Commicion Federale de Telecommunicaciones
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