RGGI Auction 4 was held on June 17, 2009 and monitored by Potomac Economics, an independent monitor of electricity markets retained to evaluate the RGGI CO2 allowance market. Potomac observed the auction and confirmed that there was no material evidence of collusion or manipulation by bidders, and that the vast majority of bids were consistent with competitive expectations.
A total of 67 qualified bidders, listed by name in section 4 below, submitted an Intent to Bid in the auction.
Electric generators and their corporate affiliates (â€œcompliance entitiesâ€) purchased 85 percent of the current control period allowances sold in the auction and 81 percent of the future control period allowances sold in the auction.
The figure below shows the quantity of allowances purchased in the auction by each of three types of entities:
Compliance Entities: Includes all electric generators and their corporate affiliates.
Environmental/Individuals: Includes non-compliance entities describing themselves as â€œEnvironmental Groupsâ€ or â€œIndividual Personâ€ in their qualification application
Other Non-Compliance Entities: Includes all other non-compliance entities
Quantity of Allowances Awarded By Type of Entity
3. Dispersion of Bids
Bids were widely dispersed across both compliance entities and non-compliance entities in both the current and future control period offerings.
In the auction for vintage 2009 allowances, most of the bidders that submitted a large number of bids (e.g., at least 2 million tons which is 6 percent of the available supply) were compliance entities. Overall, compliance entities accounted for 80 percent of the quantity of bids submitted in the vintage 2009 auction.
In the auction for vintage 2012 allowances, most of the bidders that submitted a large number of bids (e.g., at least 100,000 tons which is 5 percent of the available supply) were compliance entities. Overall, compliance entities accounted for 62 percent of the quantity of bids submitted in the vintage 2012 auction.
The following figure summarizes the quantities of bids submitted in the two auctions by all bidders.
Quantity of Bids Submitted By Type of Entity and Quantity Bid
4. Qualified Bidders
The following 67 qualified bidders submitted their intent to bid in the auction:
AES Eastern Energy, LP
Allegheny Energy Supply Company, LLC
ANP Funding I, LLC
Barclays Bank PLC
Basil P. Bourque
Brick Power Holding, LLC
Brookfield Energy Marketing Inc.
Caithness Long Island, LLC
Calpine Energy Services, LP
Chambers Cogeneration, LP
Clean Air Gardening, LLC
Conectiv Energy Supply, Inc.
Consolidated Edison Comp. of NY, Inc.
Constellation Energy Commodities Group
C-Quest Capital, LLC
DigiLog Global Environmental Master Fund
Dominion Energy Marketing, Inc.
DTE Carbon, LLC
Dynegy Marketing and Trade, LLC
Element Markets, LLC
FES Fund I LLC
Five Rings Capital, LLC
Four Oaks Interests, LLC
GDF SUEZ Energy Marketing NA, Inc.
Green Fund Partners, LLC
Green Mountain Power Corporation
H.Q. Energy Services (US) Inc.
Hess Corporation (G)
Indeck Energy Serv. of Silver Springs
Indeck-Olean Limited Partnership
Indeck-Oswego Limited Partnership
Indeck-Yerkes Limited Partnership
J. Aron & Company
Jamestown Board of Public Utilities
JP Morgan Ventures Energy Corporation
Lake Road Generating Company, L.P.
Logan Generating Company, LP
Louis Dreyfus Energy Services, LP
Macquarie Cook Power Inc.
Massachusetts Muni. Wholesale Elec. Co.
Mercuria Energy Trading
Merrill Lynch Commodities, Inc.
Milford Power Company, LLC
Millennium Power Partners, LP
Mirant Energy Trading, LLC
Morgan Stanley Capital Group, Inc.
National Grid Gen. dba National Grid
New Athens Generating Company, LLC
NextEra Energy Power Marketing, LLC
North American Energy Alliance, LLC
NRG Power Marketing, LLC
Old Dominion Electric Cooperative
Power Authority of the State of New York
PPL EnergyPlus, LLC
PSEG Energy Resources & Trade, LLC
Public Service Company of New Hampshire
Rochester Gas and Electric Corporation
Selkirk Cogen Partners, LP
Sempra Energy Trading, LLC
Statkraft Markets GmbH
TAQA Gen X, LLC
Tradax Green Energy, LLC
TransCanada Power Marketing Ltd.
Verso Paper Corp.
Allowance & Bid Statistics (by Auction)
Allowance and Bid Statistics
This chart includes data on participation in the current control period offering in each RGGI CO2 Allowance Auction.