Abstract: Energy auctions are increasingly being used to meet the energy needs of many countries.These auctions have been studied extensively, as it is widely agreed that their design elements have a major impact on auction outcomes.These studies analyze the relationship between auction design and outcomes, usually from the perspective of the auction regulator.In our study, we propose to analyze such designs from both the bidder’s and the intermediary’s perspective.As a case study, we describe and analyze the main factors that led a woodchip project to win a public energy auction, with drawbacks in the reference price formula for projects that require inflexible generation, mainly biomass projects.We then propose a more in-depth analysis and optimization of the bid price control formula, arriving at results that point to some weaknesses in the control formula or in its underlying rules