Regional Greenhouse Gas Initiative

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

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Auction 20

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RGGI Auction 20 was held on June 5, 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 20.

1. Auction Statistics:

Current Control Period Offering

  • Quantity Offered: 38,782,076
  • Quantity Sold: 38,782,076
  • Clearing Price: $3.21
  • Number of Bidders: 47
  • Ratio of bids to Supply: 2.1x
  • Percent Won by Electric Generators: 68

 

2. Auction Participation:

A total of 55 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 20, compliance entities and their affiliates purchased 68 percent of the CO2 allowances sold.

In the first 20 RGGI auctions, compliance entities and their affiliates purchased 86 percent of the current control period allowances sold.

Compliance entities and their affiliates will hold 86 percent of the allowances in circulation following the settlement of allowances sold in Auction 20. 

 

3. Dispersion of Bids

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

Ten compliance entities and four other entities submitted bids for a large quantity of allowances (e.g., at least 2 million tons). Overall, compliance entities accounted for 80 percent of the quantity of allowances for which bids were submitted. The quantity of allowances for which bids were submitted was 2.1 times the available supply in Auction 20, down slightly from 2.2 times the available supply in Auction 19 and up considerably from 0.53 times the available supply in Auction 18.

 

4. Qualified Bidders

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

  • 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
  • Calpine Energy Services, LP
  • Castleton Commodities Merchant Trading, LP
  • Castleton Power, LLC
  • CE2 Carbon Capital, LLC
  • ClimeCo Corporation
  • Consolidated Edison Comp. of NY, Inc.
  • Dominion Energy Marketing, Inc.
  • DTE Energy Trading, Inc.
  • Dynegy Marketing and Trade, LLC
  • EDF Trading North America, LLC
  • Element Markets, LLC
  • Empire Generating Co., LLC
  • Entergy Rhode Island State Energy, LP
  • EquiPower Resources
  • Essential Power, LLC
  • Evolution Markets, Inc
  • Exelon Generation Company, LLC
  • Five Rings Capital, LLC
  • Footprint Power Salem Harbor Operations, LLC
  • GenOn Energy Management, LLC
  • Granite Ridge Energy, LLC
  • Hess Corporation (G)


  • Indeck-Corinth Limited Partnership
  • Jamestown Board of Public Utilities
  • Jordan Stutt
  • J-Power USA Development Co., Ltd.
  • Kleen Energy Systems, LLC
  • Koch Supply & Trading, LP
  • Laurence DeWitt
  • 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
  • Public Service Company of New Hampshire
  • RBC
  • Selkirk Cogen Partners, LP
  • Shell Energy North America (US), LP
  • TransCanada Power Marketing, Ltd.
  • Twin Eagle Resource Management, LLC
  • Upstate New York Power Producers, LLC
  • Verso Paper Corp.
  • Village of Freeport
  • Vitol Inc.
  • Wallingford Energy, LLC