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What are the obligations of the backup bidder?

April 26, 2017backup obligations

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What are the obligations of the backup bidder?

1 Answer

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Posted

There are no obligations to the second highest bidder in the EnergyNet auction. If the seller’s minimum reserve price is not met, and we are unable to successfully negotiate a price with the high bidder, we will contact the second highest bidder to begin negotiations, but there is no obligation.