Scheduling of rounds

The Danish Energy Agency will set the schedule and the round prices that will apply to each round.

The duration of each round is not expected to be less than 30 minutes or to exceed 2 hours.

The rounds will be scheduled to start between 09.00 and 17.00 hours on Danish business days. The Danish Energy Agency does not anticipate running more than 10 rounds in a single day.

The Danish Energy Agency will schedule rounds at least 15 minutes before the scheduled start of the round.

When a round is scheduled, the interface of the EAS of each Bidder will display:

• the scheduled start time of the round;

• the scheduled end time of the round;

• the scheduled duration of the round;

• the round prices;

• the Bidder’s eligibility; and

• the number of extension rights still available for the Bidder, see Section 7.3.7.

Page 54 7.3.6 Submission of bids

During a round, Bidders connected to the EAS will be provided with a bid form by the EAS interface. The bid form will show each Bidder the applicable round prices and the Bidder’s eligibility for the round.

Bidders may only submit their bids using the bid form provided by the EAS interface.

Types of bids

There are two types of bids:

• ‘Headline Bids’; and

• 'Additional Bids'.

A Headline Bid is a bid for a package with a bid amount equal to the round price of the package. Bidders can only specify the package for a Headline Bid, and the bid amount is then automatically determined as the round price of the package.

Additional Bids allow the Bidder to specify both the package and the bid amount subject to the restrictions set out in Section 7.3.8.

In each round, each Bidder may submit at most one Headline Bid, and may submit one or more Additional Bids. However, Bidders must not submit multiple bids for the same package in the same round.

Bidders are not required to submit Additional Bids – these are entirely optional.

Submission of Headline Bids

To submit a Headline Bid the Bidder must specify, in the relevant fields of the bid form, the package of the Headline Bid. The bid amount of the Headline Bid will then be automatically calculated by the EAS as the sum of round prices of all lots included in the package, and will be reported in the bid form.

A Bidder will only be able to submit a Headline Bid if it is eligible to do so under the activity rules, set out in Section 7.3.8.

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If the Bidder does not submit a Headline Bid in a given round, then the Bidder will be deemed to have made a ‘zero bid’, which is a bid for a package of zero lots in each lot category²⁰ with a bid amount of zero.

If a Bidder submits, or is deemed to have submitted, a zero bid, then the Bidder’s Headline Bid for any subsequent rounds will be the zero bid, in accordance with the activity rules set out in Section 7.3.8.

Submission of Additional Bids

To submit an Additional Bid the Bidder must specify, in the relevant fields of the bid form, the package and the bid amount.

Bidders may submit Additional Bids for any of their permissible packages (see Section 7.3.3). Bidders cannot submit Additional Bids for a package containing zero lots in each lot category.

The bid amount of an Additional Bid cannot be lower than the greater of:

• The reserve price of the package; and

• the bid amount of any bid for the same package that the Bidder may have submitted previously.

The bid amount of an Additional Bid cannot exceed the smaller of:

• the round price of the package; and

• any applicable relative cap on the bid amount arising from the activity rules set out in Section 7.3.8.

If a Bidder submits or is deemed to have submitted a zero bid, for any subsequent rounds the Bidder will still be able to submit Additional Bids in accordance with the activity rules set out in Section 7.3.8.

The bid submission process

The submission of bids through the EAS involves two steps:

20 It is not possible to bid for exemption lots in a package not containing any frequency lots.

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• In the first step, the Bidder should specify all the bids (Headline Bid and Additional Bids) it wishes to submit in the round using the bid form provided by the EAS, and submit the completed form to the EAS for checking.

• If all the bids in the bid form are valid, the Bidder will be presented with a summary of the bids and any applicable warnings. For example, the Bidder is warned if it is about to submit an Eligibility-Reducing Bid. The Bidder may then confirm this submission, or alternatively revert to the bid form to revise or amend its bids for that round. If one or more of the bids are invalid, the Bidder will automatically be returned to the bid form and will be required to revise or amend the bids to correct the errors.

Once a Bidder has confirmed its bid submission in a given round it will not be able to withdraw or modify its bids for that round. Upon confirmation of a bid submission, the EAS will show a summary of the bids submitted.

Bid submission will only be completed once the submitted bids have been confirmed by the Bidder before the end of the round (as scheduled, or as a result of an extension as set out in Section 7.3.7). Therefore, if a Bidder submits its bid form for checking, but fails to confirm its bid submission before the end of the round, the Bidder will be deemed not to have submitted any bids in this round, and its Headline Bid for that round (and for all subsequent rounds in accordance with the activity rules set out in Section 7.3.8) will be the zero bid.