Regional Greenhouse Gas Initiative

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

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Auction 19

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RGGI Auction 19 was held on March 13, 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 confirmed that there was no material evidence of collusion or manipulation by bidders, and that the vast majority of bids were consistent with competitive expectations.

Below are key data and information on the results of the auction. Detailed analysis is available in the Market Monitor Report for Auction 19.

1. Auction Statistics:

Current Control Period Offering

  • Quantity Offered: 37,835,405
  • Quantity Sold: 37,835,405
  • Clearing Price: $2.80
  • Number of Bidders: 42
  • Ratio of bids to Supply: 2.2x
  • Percent Won by Electric Generators: 69


2. Auction Participation:

A total of 43 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 19, compliance entities and their affiliates purchased 69 percent of the CO2 allowances sold.

In the first 19 RGGI auctions, compliance entities and their affiliates purchased 88 percent of the current control period allowances sold.

90 percent of the CO2 allowances in circulation will be held by electric generators and their corporate affiliates ("compliance entities") following the settlement of Auction 19.


3. Dispersion of Bids

In the offering of allowances for the current control period, bids were submitted by 34 compliance entities and eight non-compliance entities.

Eleven compliance entities and four non-compliance entities submitted bids for a large quantity of allowances (e.g., at least 2 million tons). Overall, compliance entities accounted for 72 percent of the quantity of allowances for which bids were submitted. The quantity of allowances for which bids were submitted increased to 2.2 times the available supply in Auction 19 from 0.53 times the available supply in Auction 18 and 0.65 times the available supply in Auction 17.


4. Qualified Bidders

The following 43 qualified bidders submitted their intent to bid in the auction.

  • Astoria Energy, LLC
  • Berkshire Power Company, LLC
  • Brooklyn Navy Yard Cogen Partners, LP
  • Caithness Long Island, LLC
  • CE2 Carbon Capital, LLC
  • Consolidated Edison Comp. of NY, Inc.
  • CP Energy Marketing (US) Inc.
  • Dynegy Marketing and Trade, LLC
  • Empire Generating Co., LLC
  • Entergy Rhode Island State Energy, LP
  • EquiPower Resources
  • Exelon Generation Company, LLC
  • GDF SUEZ Energy Marketing NA, Inc.
  • GenOn Energy Management, LLC
  • Granite Ridge Energy, LLC
  • H.Q. Energy Services (US) Inc.
  • Hess Corporation (G)
  • Indeck Energy Serv. of Silver Springs
  • Indeck-Corinth Limited Partnership
  • Indeck-Olean Limited Partnership
  • Indeck-Oswego Limited Partnership
  • Indeck-Yerkes Limited Partnership
  • Integrys Energy Services, Inc.
  • Jordan Stutt
  • J-Power USA Development Co., Ltd.
  • Kleen Energy Systems, LLC
  • Koch Supply & Trading, LP
  • Laurence DeWitt
  • Massachusetts Water Resources Authority
  • Millennium Power Partners, LP
  • Morgan Stanley Capital Group, Inc
  • National Grid Gen. dba National Grid
  • Natsource Environmnetal and Energy Services
  • New Athens Generating Company, LLC
  • NextEra Energy Power Marketing, LLC
  • NRG Power Marketing, LLC
  • Power Authority of the State of New York
  • Public Service Company of New Hampshire
  • RBC
  • Selkirk Cogen Partners, LP
  • TransCanada Power Marketing, Ltd.
  • Upstate New York Power Producers, LLC
  • Vitol Inc.