Regulation 32 Creating a ranking list of sets of bids and carrying out a selection process with regard to sets of bids on the list in order to determine each bidder’s posted demand number

(1)

In order to determine each bidder’s posted demand number after the second (and each subsequent) principal stage round OFCOM shall follow the process in this regulation.

(2)

OFCOM shall from the sets of bids made by all bidders—

(a)

first, identify all sets of bids to maintain demand;

(b)

second, identify all sets of bids to decrease demand;

(c)

third, identify all sets of bids to increase demand;

(3)

Having identified sets of bids OFCOM shall—

(a)

calculate the price point for all sets of bids to decrease demand in accordance with regulation 33; and

(b)

calculate the price point for all sets of bids to increase demand in accordance with regulation 34.

(4)

OFCOM shall (having regard to the price points) create a ranking list of all of the sets of bids to increase demand and all of the sets of bids to decrease demand in accordance with regulation 35;

(5)

OFCOM shall consider sets of bids on the ranking list in order to determine whether or not they are to be accorded removed status and whether or not they are to be accorded reduced status and then repeat the process as required by regulations 36, 37 and 38.

(6)

After the process is complete OFCOM shall determine the posted demand number for each bidder for each lot type in accordance with regulations 45, 46 and 47.