Regional Greenhouse Gas Initiative

an initiative of the Northeast and Mid-Atlantic States of the U.S.

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Auction 22

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RGGI Auction 22 was held on December 4, 2013 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.

Below are key data and information on the results of the auction. Detailed analysis is available in the Market Monitor Report for Auction 22.

1. Auction Statistics:

Current Control Period Offering

  • Quantity Offered: 38,329,378
  • Quantity Sold: 38,329,378
  • Clearing Price: $3.00
  • Number of Bidders: 49
  • Ratio of bids to Supply: 2.7x
  • Percent Won by Compliance Entities: 43

 

2. Auction Participation:

A total of 55 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 22, compliance entities and their affiliates purchased 43 percent of the CO2 allowances sold.

In the first 22 RGGI auctions, compliance entities and their affiliates purchased 81 percent of the allowances sold.

Compliance entities and their affiliates will hold 77 percent of the allowances in circulation following the settlement of allowances sold in Auction 22. 

 

3. Dispersion of Bids

In the offering of allowances for the current control period, bids were submitted by 38 compliance entities and eleven other entities.

Ten compliance entities and seven other entities submitted bids for a large quantity of allowances (i.e., at least 2 million tons). Overall, compliance entities accounted for 53 percent of the quantity of allowances for which bids were submitted. The quantity of allowances for which bids were submitted was 2.7 times the available supply in Auction 22, up from 2.0 times the available supply in auction 21 and 2.1 times the available supply in Auction 20.

 

4. Potential Bidders

The following 55 potential bidders submitted their intent to bid in the auction.

  • Astoria Energy, LLC
  • AU Funding LLC
  • Brayton Point Energy, LLC
  • Brooklyn Navy Yard Cogen Partners, LP
  • Caithness Long Island, LLC
  • Calpine Energy Services, LP
  • Carbon Lighthouse Association
  • Castleton Commodities Merchant Trading, LP
  • Castleton Power, LLC
  • CE2 Carbon Capital, LLC
  • ClimeCo Corporation
  • Consolidated Edison Comp. of NY, Inc.
  • Delaware City Refining Company, LLC
  • Dominion Energy Marketing, Inc.
  • DTE Energy Trading, Inc.
  • Dynegy Marketing and Trade, LLC
  • EDF Trading North America, LLC
  • Empire Generating Co., LLC
  • Entergy Rhode Island State Energy, LP
  • EquiPower Resources
  • Essential Power, LLC
  • Evolution Markets, Inc.
  • Exelon Generation Company, LLC
  • GDF SUEZ Energy Marketing NA, Inc.
  • GenOn Energy Management, LLC
  • Granite Ridge Energy, LLC
  • Hess Energy Marketing LLC
  • Indeck-Corinth Limited Partnership
  • Indeck-Oswego Limited Partnership
  • Indeck-Yerkes Limited Partnership
  • Jamestown Board of Public Utilities
  • J-Power USA Development Co., Ltd.
  • Kleen Energy Systems, LLC
  • Koch Supply & Trading, LP
  • Lakeside Energy, LLC
  • Luminus Energy Partners QP, LP
  • Massachusetts Muni. Wholesale Elec. Co.
  • Mercuria Energy America, Inc.
  • Millennium Power Partners, LP
  • Morgan Stanley Capital Group, Inc
  • National Grid Gen. dba National Grid
  • New Athens Generating Company, LLC
  • NextEra Energy Power Marketing, LLC
  • NRG Power Marketing, LLC
  • Panda Brandywine, LP
  • Power Authority of the State of New York
  • PSEG Energy Resources & Trade, LLC
  • Public Service Company of New Hampshire
  • RBC
  • Selkirk Cogen Partners, LP
  • Shell Energy North America (US), LP
  • Upstate New York Power Producers, LLC
  • Verso Paper Corp.
  • Village of Freeport
  • Vitol Inc.