Create Demand

Buyers that have periodically recurring EACs demands can define such a demand in the system. By creating a demand, buyers tell the system to automatically create a bid with the same criteria once every defined time period. If the user, for example, defines a monthly recurring demand with a specific volume, price and product, the system will automatically create a bid with the defined specifications at the beginning of every month. Every bid that is automatically created holds information about the demand it originates from. 

Users have to define the duration of the demand, meaning how long a demand should be in place. Users have to define a start and endpoint to choose a duration. A monthly demand can (e.g. have a duration of a year), which would mean that a bid is created every month for a year. In order to continue the automatic creation of bids after the duration is over, a new demand has to be created. 

There is one thing that slightly complicates automatic bid creation and it is the required generation time frame. It can be expected that the time of bid creation will influence the desired generation time frame. But if we would require users that care about generation time to manually select the generation time frame for every bid created in the future it would eliminate much of the advantages of automatic bid creation. As a result, we offer to peg the required generation time to the chosen demand time frame. Part of the rationale for this is that it aligns with currently limited, but growing interest in 24/7 renewables procurement. For a monthly demand, this would mean that the product of the bid created includes the current month as the generation time frame in the product: A bid created in June would include June as the required generation time. 

Demands do not have to be canceled because they have a limited duration. After the duration ends there are no further bids created. In order to signal that a demand is no longer active its status can be changed to archived. Demands can be paused in case a bid should not be created in some time frame. Users can also choose to resume paused demands if automatic demand creation should be continued after a pause. 

Requirements:

  • Only registered users can create a demand

  • The system should automatically create a bid once every defined demand time frame with the right specifications

  • The system should periodically create bids from the start until the end of the demand duration