Regional Greenhouse Gas Initiative

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

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Auction 21

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RGGI Auction 21 was held on September 4, 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 21.

1. Auction Statistics:

Current Control Period Offering

  • Quantity Offered: 38,409,043
  • Quantity Sold: 38,409,043
  • Clearing Price: $2.67
  • Number of Bidders: 42
  • Ratio of bids to Supply: 2.0x
  • Percent Won by Compliance Entities: 53

 

2. Auction Participation:

A total of 52 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 21, compliance entities and their affiliates purchased 53 percent of the CO2 allowances sold.

In the first 21 RGGI auctions, compliance entities and their affiliates purchased 84 percent of the current control period allowances sold.

Compliance entities and their affiliates will hold 82 percent of the allowances in circulation following the settlement of allowances sold in Auction 21. 

 

3. Dispersion of Bids

In the offering of allowances for the current control period, bids were submitted by 33 compliance entities and nine other entities.

Seven compliance entities and six other entities submitted bids for a large quantity of allowances (i.e., at least 2 million tons). Overall, compliance entities accounted for 54 percent of the quantity of allowances for which bids were submitted. The quantity of allowances for which bids were submitted was 2.0 times the available supply in Auction 21, down slightly from 2.1 times the available supply in auction 20 and 2.2 times the available supply in Auction 19.

 

4. Qualified Bidders

The following 52 qualified bidders submitted their intent to bid in the auction.

  • Astoria Energy, LLC
  • Astoria Generating Company, LP
  • Berkshire Power Company, LLC
  • Brooklyn Navy Yard Cogen Partners, LP
  • Caithness Long Island, LLC
  • Calpine Energy Services, LP
  • Castleton Power, LLC
  • CE2 Carbon Capital, LLC
  • ClimeCo Corporation
  • Consolidated Edison Comp. of NY, Inc.
  • CP Energy Marketing (US) Inc.
  • Delaware City Refining Company, LLC
  • DTE Energy Trading, Inc.
  • Dynegy Marketing and Trade, LLC
  • EDF Trading North America, LLC
  • Empire Generating Co., LLC
  • Entergy Rhode Island State Energy, LP
  • EquiPower Resources
  • Exelon Generation Company, LLC
  • Footprint Power Salem Harbor Operations, LLC
  • GenOn Energy Management, LLC
  • Granite Ridge Energy, LLC
  • H.Q Energy Services (U.S.) Inc.
  • Hess Corporation (G)
  • Indeck Energy Serv. of Silver Springs
  • Indeck-Corinth Limited Partnership
  • Indeck-Oswego Limited Partnership
  • Jamestown Board of Public Utilities
  • J-Power USA Development Co., Ltd.
  • Kleen Energy Systems, LLC
  • Koch Supply & Trading, LP
  • Lakeside Energy, LLC
  • Luminus Energy Partners QP, LP
  • 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
  • Power Authority of the State of New York
  • PSEG Energy Resources & Trade, LLC
  • Public Service Company of New Hampshire
  • RBC
  • Selkirk Cogen Partners, LP
  • Shell Energy North America (US), LP
  • Twin Eagle Resource Management, LLC
  • Upstate New York Power Producers, LLC
  • Verso Paper Corp.
  • Village of Freeport
  • Vitol Inc.
  • Wallingford Energy, LLC