RGGI Auction 8 was held on June 9, 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 53 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 92 percent of the current control period allowances sold in the auction and 100 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 2010 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 90 percent of the quantity of bids submitted in the vintage 2010 auction.
In the auction for vintage 2013 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 vintage 2013 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 53 qualified bidders submitted their intent to bid in the auction.
AES Eastern Energy, LP
Aircraft Services Corporation
ANP Funding I, 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
Conectiv Energy Supply, Inc.
Conn. Municipal Electric Energy Coop.
Consolidated Edison Comp. of NY, Inc.
Constellation Energy Commodities Group
CP Energy Marketing (US) Inc.
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.
H.Q. Energy Services (US) Inc.
Hess Corporation (G)
J-Power USA Development Co., Ltd.
Lake Road Generating Company, L.P
Louis Dreyfus Energy Services, LP
Macquarie Energy, LLC
Massachusetts Muni. Wholesale Elec. Co.
Merrill Lynch Commodities, Inc.
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
TAQA Gen X, LLC
TransCanada Power Marketing, Ltd.
Verso Paper Corp.
Village of Freeport
Allowance & Bid Statistics (by Auction)
This chart includes data on participation in the current control period offering in each RGGI CO2 Allowance Auction.