RGGI Auction 5 was held on September 9, 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 59 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 77 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 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 78 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 100 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 59 qualified bidders submitted their intent to bid in the auction.
Adirondack Council Inc.
AES Eastern Energy, LP
Aircraft Services Corporation
Allegheny Energy Supply Company, LLC
ANP Funding I, LLC
Astoria Energy, LLC
Astoria Generating Company, LP
Barclays Bank PLC
Boston Generating, LLC
Brick Power Holding, LLC
Brookfield Energy Marketing Inc.
Caithness Long Island, LLC
Calpine Energy Services, LP
Chambers Cogeneration, LP
Conectiv Energy Supply, Inc.
Conn. Municipal Electric Energy Coop.
Consolidated Edison Comp. of NY, Inc.
DigiLog Global Environmental Master Fund
Dominion Energy Marketing, Inc.
DTE Carbon, LLC
Dynegy Marketing and Trade, LLC
Element Markets, LLC
Four Oaks Interests, LLC
GDF SUEZ Energy Marketing NA, Inc.
Granite Ridge Energy, LLC
H.Q. Energy Services (US) Inc.
Hess Corporation (G)
JP Morgan Ventures Energy Corporation
J-Power USA Development Co., Ltd.
Lake Road Generating Company, L.P.
Louis Dreyfus Energy Services, LP
Massachusetts Muni. Wholesale Elec. Co.
Massachusetts Water Resources Authority
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
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
Selkirk Cogen Partners, LP
Sempra Energy Trading, LLC
Statkraft Markets GmbH
Sunoco Power Generation, LLC
TAQA Gen X, LLC
Tauber Oil Co.
Tradax Green Energy, LLC
TransCanada Power Marketing Ltd.
Verso Paper Corp.
Allowance & Bid Statistics (by Auction)
This chart includes data on participation in the current control period offering in each RGGI CO2 Allowance Auction.