RGGI Auction 9 was held on September 8, 2010 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 56 qualified bidders, listed by name in section 4 below, submitted an Intent to Bid in the auction.
The following statistics summarize the purchases and holdings of allowances by electric generators and their corporate affiliates ("compliance entities") under the RGGI program:
In Auction 9, compliance entities and their affiliates purchased:
92 percent of the current control period allowances sold and
100 percent of the future control period allowances sold.
In the first nine RGGI auctions, compliance entities and their affiliates purchased:
83 percent of the current control period allowances sold,
96 percent of the future control period allowances sold, and
84 percent of all allowances sold.
Compliance entities and their affiliates will hold 95 percent of the allowances in circulation following the settlement of allowances sold in Auction 9.
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 current control period 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 92 percent of the quantity of bids submitted in the current control period auction.
In the auction for future control period 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 100 percent of the quantity of bids submitted in the future control period 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 56 qualified bidders submitted their intent to bid in the auction.
Adirondack Council Inc.
AES Eastern Energy, LP
Aircraft Services Corporation
ANP Funding I, LLC
Astoria Energy, LLC
Astoria Generating Company, LP
Barclays Bank PLC
Boston Generating, LLC
Brick Power Holding, LLC
Bridgeport Energy, LLC
Brooklyn Navy Yard Cogen Partners, LP
Caithness Long Island, LLC
Calpine Energy Services, LP
Castleton Power, LLC
Conn. Municipal Electric Energy Coop.
Consolidated Edison Comp. of NY, Inc.
Constellation Energy Commodities Group
Delaware Municipal Electric Corp.
Dominion Energy Marketing, Inc.
DTE Carbon, LLC
Dynegy Marketing and Trade, LLC
E.ON Energy Trading SE
GDF SUEZ Energy Marketing NA, Inc.
Granite Ridge Energy, LLC
H.Q. Energy Services (US) Inc.
Hess Corporation (G)
Indeck-Corinth Limited Partnership
Indeck-Olean Limited Partnership
Indeck-Oswego Limited Partnership
Indeck-Yerkes Limited Partnership
J-Power USA Development Co., Ltd.
Koch Supply & Trading, LP
Massachusetts Muni. Wholesale Elec. Co.
Massachusetts Water Resources Authority
Millennium Power Partners, LP
Mirant Energy Trading, LLC
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
Panda Brandywine, LP
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
TAQA Gen X, LLC
TransCanada Power Marketing, Ltd.
Verso Paper Corp.
Wing Fuel, LLC
Allowance & Bid Statistics (by Auction)
This chart includes data on participation in the current control period offering in each RGGI CO2 Allowance Auction.