RGGI Auction 18 was held on December 5, 2012 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 34 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 18, compliance entities and their affiliates purchased 100 percent of the CO2 allowances sold.
In the first 18 RGGI auctions, compliance entities and their affiliates purchased 88 percent of the current control period allowances sold.
94 percent of the CO2 allowances in circulation will be held by electric generators and their corporate affiliates ("compliance entities") following the settlement of Auction 18.
3. Dispersion of Bids
In the offering of allowances for the current control period, bids were submitted by 29 compliance entities.
One compliance entity submitted a bid for a large quantity of allowances (e.g., at least 5 million tons). Overall, compliance entities accounted for 100 percent of the quantity of allowances for which bids were submitted. The quantity of allowances for which bids were submitted decreased to 0.53 times the available supply in Auction 18 from 0.65 times the available supply in Auction 17 and 0.57 times the available supply in Auction 16.
4. Qualified Bidders
The following 34 qualified bidders submitted their intent to bid in the auction.