What if I am not available to bid on the last day of the auction? What types of bidding does EnergyNet offer?
When bidding on a lot, you may enter a proxy, flat bid or both. (See the questions above for full definitions of proxy and flat bidding.) If you choose to place a proxy instead of (or in addition to) a flat bid, you are asking EnergyNet’s bid engine to bid automatically on your behalf, up to the amount you have specified. EnergyNet will place bids at the minimum amount to maintain your status as high bidder. For example, if you place a proxy of $1,000,000 on an auction with a current high bid of $750,000, your new proxy will place a bid automatically at $760,000, the next minimum increment, to make you the new high bidder. Your proxy will then continue to bid whenever you are outbid, but it will only bid up to, and including, the $1,000,000 limit you specified. After placing a proxy that represents the highest amount you are willing to pay for a property, you are able to participate in the auction even if you cannot follow the auction closely due to other obligations. For more informat
