Auction 27

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RGGI Auction 27 was held on March 11, 2015 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 27.

1. Auction Statistics:

Current Control Period Offering

  • Intial Offering: 15,272,670
  • 2015 CCR Allowances Available: 10,000,000
  • Quantity Sold: 15,272,670
  • Clearing Price: $5.41
  • Number of Bidders: 45
  • Ratio of Bids to Intial Supply: 2.8x
  • Percent Won by Compliance Entities: 100%

 

2. Auction Participation:

A total of 50 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 27, compliance entities and their affiliates purchased 100 percent of the CO2 allowances sold.

In the first 27 RGGI auctions, compliance entities and their affiliates purchased 78 percent of the allowances sold.

Compliance entities and their affiliates will hold 62 percent of the allowances in circulation following the settlement of allowances sold in Auction 27.

 

3. Dispersion of Bids

In the offering of allowances for the current control period, bids were submitted by 37 compliance entities and eight other entities.

Six compliance entities and three other entities submitted bids for a large quantity of allowances (i.e., at least 2 million tons). Overall, compliance entities accounted for 66 percent of the quantity of allowances for which bids were submitted. The quantity of allowances for which bids were submitted was 2.8 times the initial offering of 15,272,670 allowances.

 

4. Potential Bidders

The following 50 potential bidders submitted their intent to bid in the auction.

  • Adirondack Council Inc.
  • Astoria Energy, LLC
  • Brookfield Energy Marketing LP
  • 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
  • City of Dover
  • Consolidated Edison Comp. of NY, Inc.
  • Delaware City Refining Company, LLC
  • Direct Energy Business Marketing, LLC
  • Dominion Energy Marketing, Inc.
  • DTE Energy Trading, Inc.
  • EDF Trading North America, LLC
  • Empire Generating Co., LLC
  • Entergy Rhode Island State Energy, LP
  • Essential Power, LLC
  • Exelon Generation Company, LLC
  • GDF SUEZ Energy Marketing NA, Inc.
  • GenOn Energy Management, LLC
  • Granite Ridge Energy, LLC
  • Indeck-Corinth Limited Partnership
  • Indeck-Oswego Limited Partnership
  • Indeck-Yerkes Limited Partnership
  • Jamestown Board of Public Utilities
  • J-Power USA Development Co., Ltd.
  • Kendall Green Energy, LLC
  • Kleen Energy Systems, LLC
  • Koch Supply & Trading, LP
  • Luminus Energy Partners Master Fund, Ltd.
  • Maxim Power (USA) Inc.
  • 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
  • Old Dominion Electric Cooperative
  • Power Authority of the State of New York
  • PSEG Energy Resources & Trade, LLC
  • Public Service Company of New Hampshire
  • RBC
  • Upstate New York Power Producers, LLC
  • Verso Corporation
  • Village of Freeport
  • Vitol Inc.