Regional Greenhouse Gas Initiative

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

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Auction 26

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Auction 26 Page

RGGI Auction 26 was held on December 3, 2014 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 26.

1. Auction Statistics:

Current Control Period Offering

  • Intial Offering: 18,198,685
  • Quantity Sold: 18,198,685
  • Clearing Price: $5.21
  • Number of Bidders: 50
  • Ratio of Bids to Supply: 2.5x
  • Percent Won by Compliance Entities: 88

 

2. Auction Participation:

A total of 53 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 26, compliance entities and their affiliates purchased 88 percent of the CO2 allowances sold.

In the first 26 RGGI auctions, compliance entities and their affiliates purchased 78 percent of the CO2 allowances sold.

Compliance entities and their affiliates will hold 81 percent of the CO2 allowances in circulation following the settlement of CO2 allowances sold in Auction 26. 

 

3. Dispersion of Bids

In the offering of CO2 allowances for the current control period, bids were submitted by 42 compliance entities and 8 other entities.

Seven compliance entities and 2 other entities submitted bids for a large quantity of CO2 allowances (i.e., at least 2 million tons). Overall, compliance entities accounted for 71 percent of the quantity of CO2 allowances for which bids were submitted. The quantity of CO2 allowances for which bids were submitted was 2.5 times the offering of 18,198,685 CO2 allowances. 

 

4. Potential Bidders

The following 53 potential bidders submitted their intent to bid in the auction.

  • Brooklyn Navy Yard Cogen Partners, LP
  • Kendall Green Energy, LLC
  • Caithness Long Island, LLC
  • Kleen Energy Systems, LLC
  • Calpine Energy Services, LP
  • Koch Supply & Trading, LP
  • Carbon Lighthouse Association
  • Luminus Energy Partners QP, LP
  • Castleton Power, LLC
  • Massachusetts Muni. Wholesale Elec. Co.
  • CE2 Carbon Capital, LLC
  • Mercuria Energy America, Inc.
  • City of Dover
  • Millennium Power Partners, LP
  • Consolidated Edison Comp. of NY, Inc.
  • Morgan Stanley Capital Group, Inc.
  • Delaware City Refining Company, LLC
  • National Grid Gen. dba National Grid
  • Delaware Municipal Electric Corp.
  • New Athens Generating Company, LLC
  • Direct Energy Business Marketing, LLC
  • NextEra Energy Power Marketing, LLC
  • Dominion Energy Marketing, Inc.
  • NRG Power Marketing, LLC
  • EDF Trading North America, LLC
  • Power Authority of the State of New York
  • Empire Generating Co., LLC
  • PSEG Energy Resources & Trade, LLC
  • Entergy Rhode Island State Energy, LP
  • Public Service Company of New Hampshire
  • Exelon Generation Company, LLC
  • Raven Power Marketing, LLC
  • GDF SUEZ Energy Marketing NA, Inc.
  • RBC
  • GenOn Energy Management, LLC
  • Selkirk Cogen Partners, LP
  • Granite Ridge Energy, LLC
  • Seventh Generation Advisors
  • Green Mountain Power Corporation
  • Stonyfield Farm
  • Hawkeye Energy Greenport
  • TransCanada Power Marketing, Ltd.
  • Indeck-Corinth Limited Partnership
  • Upstate New York Power Producers, LLC
  • Indeck-Olean Limited Partnership
  • Verso Paper Corp.
  • Indeck-Oswego Limited Partnership
  • Village of Freeport
  • Indeck-Yerkes Limited Partnership
  • Vitol Inc.
  • Jamestown Board of Public Utilities
  • Wallingford Energy, LLC
  • J-Power USA Development Co., Ltd.