Auction 17

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RGGI Auction 17 was held on September 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.

Below are key data and information on the results of the auction. Detailed analysis is available in the Market Monitor Report for Auction 17.

 

1. Auction Statistics:

Current Control Period Offering

  • Quantity Offered: 37,949,558
  • Quantity Sold: 24,589,000
  • Clearing Price: $1.93
  • Number of Bidders: 22
  • Ratio of bids to Supply: 0.65x
  • Percent Won by Electric Generators: 100

 

2. Auction Participation:

A total of 29 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 17, compliance entities and their affiliates purchased: 100 percent of the CO2 allowances sold.

In the first 17 RGGI auctions, compliance entities and their affiliates purchased 88 percent of the current control period allowances sold.

92 percent of the CO2 allowances in circulation will be held by electric generators and their corporate affiliates ("compliance entities") following the settlement of Auction 17.

 

3. Dispersion of Bids

In the offering of allowances for the current control period, bids were submitted by 22 compliance entities.

Two compliance entities submitted bids for a large quantity of allowances (e.g., at least 2 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 increased to 0.65 times the available supply in Auction 17 from 0.57 times the available supply in Auction 16 and 0.62 times the available supply in Auction 15.

 

4. Qualified Bidders

The following 29 qualified bidders submitted their intent to bid in the auction.

  • Astoria Energy, LLC
  • Berkshire Power Company, LLC
  • Brooklyn Navy Yard Cogen Partners, LP
  • Caithness Long Island, LLC
  • Calpine Energy Services, LP
  • Castleton Power, LLC
  • Consolidated Edison Comp. of NY, Inc.
  • Constellation Energy Commodities Group
  • Dominion Energy Marketing, Inc.
  • EDF Trading North America, LLC
  • Empire Generating Co., LLC
  • EquiPower Resources
  • Essential Power, LLC
  • GenOn Energy Management, LLC
  • Granite Ridge Energy, LLC
  • Indeck Energy Serv. of Silver Springs
  • Indeck-Corinth Limited Partnership
  • Indeck-Yerkes Limited Partnerhship
  • IPR-GDF SUEZ Energy Marketing NA, Inc.
  • J-Power USA Development Co., Ltd.
  • Kleen Energy Systems, LLC
  • Millenium Power Partners, LP
  • National Grid Gen. dba National Grid
  • New Athens Generating Company, LLC
  • Power Authority of the State of New York
  • Public Service Company of New Hampshire
  • RBC
  • Selkirk Cogen Partners, LP
  • Verso Paper Corp.