RGGI Auction 23 was held on March 5, 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.
A total of 52 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 23, compliance entities and their affiliates purchased 45 percent of the CO2 allowances sold.
In the first 23 RGGI auctions, compliance entities and their affiliates purchased 78 percent of the allowances sold.
Compliance entities and their affiliates will hold 74 percent of the allowances in circulation following the settlement of allowances sold in Auction 23.
3. Dispersion of Bids
In the offering of allowances for the current control period, bids were submitted by 35 compliance entities and ten other entities.
Nine compliance entities and five other entities submitted bids for a large quantity of allowances (i.e., at least 2 million tons). Overall, compliance entities accounted for 65 percent of the quantity of allowances for which bids were submitted. The quantity of allowances for which bids were submitted was 3.1 times the initial offering of 18,491,350 allowances and 2.5 times the total available supply (including the 5 million allowances in the CCR). In Auction 22, the quantity of allowances for which bids were submitted was 2.7 times the available supply.
4. Potential Bidders
The following 52 potential bidders submitted their intent to bid in the auction.
Astoria Energy, LLC
Brayton Point Energy, LLC
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
Consolidated Edison Comp. of NY, Inc
CP Energy Marketing (US) Inc..
Delaware City Refining Company, LLC
Dominion Energy Marketing, Inc.
DTE Energy Trading, Inc.
Dynegy Marketing and Trade, LLC
EDF Trading North America, LLC
Entergy Rhode Island State Energy, LP
Evolution Markets, Inc.
Exelon Generation Company, LLC
Five Rings Capital, LLC
GDF SUEZ Energy Marketing NA, Inc.
GenOn Energy Management, LLC
Granite Ridge Energy, LLC
Hess Energy Marketing LLC
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.
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
Noble Americans Gas & Power Corp.
NRG Power Marketing, LLC
Power Authority of the State of New York
PSEG Energy Resources & Trade, LLC
Public Service Company of New Hampshire
Selkirk Cogen Partners, LP
Shell Energy North America (US), LP
Upstate New York Power Producers, LLC
Verso Paper Corp.
Wallingford Energy, LLC
Allowance Prices and Volumes (by Auction)
This chart displays the results of each RGGI CO2 Allowance Auction. To view a state-by-state breakdown for each auction, click on the auction number listed in the left-hand column.
This chart displays cumulative auction results organized by state. To view a complete breakdown by auction and allowance control period for each state, click on the state name listed in the left-hand column.