Auction 30

PDF Print

RGGI Auction 30 was held on December 2, 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 30.

1. Auction Statistics:

Current Control Period Offering

  • Offering: 15,374,274
  • Quantity Sold: 15,374,274
  • Clearing Price: $7.50
  • Number of Bidders: 51
  • Ratio of Bids to Intial Supply: 3.0
  • Percent Won by Compliance Entities: 80%
  • Percent Won by Compliance-Oriented Entities: 23%

 

2. Auction Participation:

A total of 57 potential bidders, listed by name in section 4 below, submitted an Intent to Bid in the auction.

The following statistics summarize the participation by electric generators and their corporate affiliates ("compliance entities") under the RGGI program.

In Auction 30, compliance entities and their affiliates purchased 80 percent of the allowances sold.

In the first 30 RGGI auctions, compliance entities and their affiliates purchased 77 percent of the allowances sold.

This post-auction report also summarizes allowance purchases and holdings for “compliance-oriented entities.” This includes most compliance entities and their affiliates. Compliance-oriented entities exclude compliance entities that (in the market monitor’s assessment) have allowance holdings which exceed their estimated compliance obligations by a margin to suggest purchasing allowances for re-sale or some other investment purpose.

In Auction 30, compliance-oriented entities and their affiliates purchased 23 percent of allowances.

55 percent of allowances in circulation will be held by firms that are believed to hold them for compliance purposes following the settlement of allowances sold in Auction 30.

 

3. Dispersion of Bids

In the offering of allowances for the current control period, bids were submitted by 35 compliance-oriented entities and 16 other entities.

Three compliance-oriented entities and six other entities submitted bids for a large quantity of allowances (i.e., at least 2 million tons). Overall, compliance-oriented entities accounted for 34 percent of the quantity of allowances for which bids were submitted. The quantity of allowances for which bids were submitted was 3.0 times the initial offering of 15,374,274 allowances.

 

4. Potential Bidders

The following 57 potential bidders submitted their intent to bid in the auction.

  • Astoria Energy, LLC
  • Biourja Nehme Commodities, LLC
  • Blue Delta 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
  • Consolidated Edison Comp. of NY, Inc
  • Delaware City Refining Company, LLC
  • Delaware Municipal Electric Corp.
  • Direct Energy Business Marketing, LLC
  • DRW Commodities, LLC
  • DTE Energy Trading, Inc.
  • EDF Trading North America, 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 Energy Serv. of Silver Springs
  • Indeck-Corinth Limited Partnership
  • Indeck-Olean 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
  • KMC Thermo, LLC
  • Koch Supply & Trading, LP
  • Luminus Energy Partners Master Fund, Ltd.
  • Massachusetts Muni. Wholesale Elec. Co.
  • 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
  • Noble Americas Gas & Power Corp.
  • 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
  • Selkirk Cogen Partners, LP
  • TransCanada Power Marketing, Ltd.
  • Upstate New York Power Producers, LLC
  • Verso Corporation
  • Village of Freeport
  • Vitol Inc.
  • Wallingford Energy, LLC