The online energy auction host completed AEP’s first action last December, in which offers were submitted by 21 mining companies and marketers of Central Appalachian tonnage.

AEP conducted a second auction for Powder River Basin coal and eight miners and marketers participated in the competition.

The utility ultimately awarded the full volumes for both auctions within 24 hours of the auctions, though neither Pricelock nor the utility released the customer names or the total output secured.

“Our vision is to make the process of buying energy more efficient for everyone involved,” Pricelock chief executive officer Naveen Agarwal said.

“This is particularly important for coal buyers who are purchasing more frequently than they have historically.

“In addition, the installation of pollution control devices has given them the opportunity to consider new sources of coal.

“Our platform simplifies the procurement process, making them more efficient so they can focus on identifying the best solution for their business.”

In addition to coal, Pricelock’s platform also supports transactions for power, natural gas, natural gas storage, distillates, jet fuel and railcar leases.

Among its bidders are large refiners, utilities, power cooperatives, power generators, investment banks, marketers, transportation, industrial and commercial firms.