Regional Greenhouse Gas Initiative

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

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Auction 18

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Auction 18

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.

Below are key data and information on the results of the auction. Detailed analysis is available in the Market Monitor Report for Auction 18.

 

1. Auction Statistics:

Current Control Period Offering

  • Quantity Offered: 37,563,083
  • Quantity Sold: 19,774,000
  • Clearing Price: $1.93
  • Number of Bidders: 29
  • Ratio of bids to Supply: 0.53x
  • Percent Won by Electric Generators: 100

 

2. Auction Participation:

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.

  • AES Warrior Run Cogeneration Facility
  • Astoria Energy, LLC
  • Astoria Generating Company, LP
  • Berkshire Power Company, LLC
  • Brookfield Energy Marketing LP
  • Brooklyn Navy Yard Cogen Partners, LP
  • Caithness Long Island, LLC
  • Castleton Power, LLC
  • Consolidated Edison Comp. of NY, Inc.
  • Constellation Energy Commodities Group
  • Dominion Energy Marketing, Inc
  • Dynegy Marketing and Trade, LLC
  • EDF Trading North America, LLC
  • Empire Generating Co., LLC
  • Entergy Rhode Island State Energy, LP
  • EquiPower Resources
  • GenOn Energy Management, LLC
  • Indeck-Corinth Limited Partnership
  • Jamestown Board of Public Utilities
  • J-Power USA Development Co., Ltd.
  • Kleen Energy Systems, LLC
  • Massachusetts Muni. Wholesale Elec. Co.
  • Millennium Power Partners, LP
  • National Grid Gen. dba National Grid
  • New Athens Generating Company, LLC
  • NextEra Energy Power Marketing, LLC
  • NRG Power Marketing, LLC
  • Power Authority of the State of New York
  • Public Service Company of New Hampshire
  • RBC
  • Rochester Gas and Electric Corporation
  • Selkirk Cogen Partners, LP
  • Verso Paper Corp
  • Wallingford Energy, LLC
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