RGGI Auction 32 was held on June 1, 2016 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.
Percent Won by Compliance Entities and their Affiliates: 93%
Percent Won by Compliance-Oriented Entities: 64%
2. Auction Participation:
A total of 56 potential bidders, listed by name in section 4 below, submitted an Intent to Bid in the auction.
The market monitor’s report summarizes auction participation for three categories: Compliance Entities and their Affiliates; Compliance-Oriented Entities; and Other Entities. Compliance-Oriented Entities include compliance entities that (in the market monitor's assessment) appear to acquire and hold allowances primarily to satisfy their compliance obligations.
In Auction 32, Compliance Entities and their Affiliates purchased 93 percent of the allowances sold.
In the first 32 RGGI auctions, Compliance Entities and their Affiliates purchased 77 percent of the allowances sold.
In Auction 32, Compliance-Oriented Entities purchased 64 percent of allowances.
46 percent of allowances in circulation will be held by Compliance-Oriented Entities following the settlement of allowances sold in Auction 32.
54 percent of allowances in circulation will be held for compliance purposes following the settlement of allowances sold in Auction 32. The number of allowances that are believed to be held for compliance purposes includes 100 percent of the allowances held by Compliance-Oriented Entities, and a portion of allowances held by Other Entities for compliance purposes.
3. Dispersion of Bids
In the offering of allowances for the current control period, bids were submitted by 27 Compliance-Oriented Entities and 15 Other Entities.
Three Compliance-Oriented Entities and eight Other Entities submitted bids for a large quantity of allowances (i.e., at least 2 million tons). Overall, Compliance-Oriented Entities accounted for 35 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 15,089,652 allowances.
4. Potential Bidders
The following 56 potential bidders submitted their intent to bid in the auction.
Berkshire Power Company, LLC
Biourja Nehme Commodities, LLC
BP Products North America Inc.
Brooklyn Navy Yard Cogen Partners, LP
Caithness Long Island, LLC
Calpine Energy Services, LP
Carbon Lighthouse Association
Castleton Commodities Merchant Trading, LP
Castleton Power, LLC
CE2 Carbon Capital, LLC
City of Dover
Consolidated Edison Comp. of NY, Inc.
Delaware City Refining Company, LLC
Delaware Municipal Electric Corp.
Dominion Energy Marketing, Inc.
DRW Commodities, LLC
DTE Energy Trading, Inc.
EDF Trading North America, LLC
Energie Row, LLC
Exelon Generation Company, LLC
GDF SUEZ Energy Marketing NA, Inc.
GenOn Energy Management, LLC
Green Mountain Power Corporation
Green Olive Holdings, LLC
Indeck-Corinth Limited Partnership
Indeck-Oswego Limited Partnership
Indeck-Yerkes Limited Partnership
Jamestown Board of Public Utilities
J-Power USA Development Co., Ltd.
Kendall Green Energy, LLC
Kleen Energy System, LLC
KMC Thermo, LLC
Koch Supply & Trading, LP
Luminus Energy Partners Master Fund, Ltd.
Macquarie Energy, LLC
Maxim Power (USA), Inc.
Mercuria Energy America, Inc.
Morgan Stanley Capital Group, Inc.
National Grid Gen. dba National Grid
NextEra Energy Power Marketing, LLC
NRG Power Marketing, LLC
Old Dominion Electric Cooperative
Power Authority of the State of New York
PSEG Energy Resources & Trade, LLC
Public Service Company of New Hampshire
Selkirk Cogen Partners, LP
Talen Energy Marketing, LLC
Taunton Municipal Lighting Plant
The William & Flora Hewlett Foundation
TransCanada Power Marketing, Ltd.
Upstate New York Power Producers, Inc.
Village of Freeport
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.