RGGI Auction 24 was held on June 4, 2014 and monitored by Potomac Economics, an independent monitor of electricity markets retained to evaluate the RGGI CO2 allowance market. Potomac observed the auction and found no material evidence of collusion or manipulation by bidders.
A total of 51 potential 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 24, compliance entities and their affiliates purchased 55 percent of the CO2 allowances sold.
In the first 24 RGGI auctions, compliance entities and their affiliates purchased 78 percent of the CO2 allowances sold.
Compliance entities and their affiliates will hold 77 percent of the CO2 allowances in circulation following the settlement of CO2 allowances sold in Auction 24.
3. Dispersion of Bids
In the offering of CO2 allowances for the current control period, bids were submitted by 37 compliance entities and six other entities.
Seven compliance entities and three other entities submitted bids for a large quantity of CO2 allowances (i.e., at least 2 million tons). Overall, compliance entities accounted for 72 percent of the quantity of CO2 allowances for which bids were submitted. The quantity of CO2 allowances for which bids were submitted was 2.9 times the offering of 18,062,384 CO2 allowances.
4. Potential Bidders
The following 51 potential bidders submitted their intent to bid in the auction.