RGGI Auction 31 was held on March 9, 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.
A total of 57 potential bidders, listed by name in section 4 below, submitted an Intent to Bid in the auction.
The following statistics summarize the participation by electric generators and their corporate affiliates ("compliance entities") under the RGGI program.
In Auction 31, compliance entities and their affiliates purchased 67 percent of the allowances sold.
In the first 31 RGGI auctions, compliance entities and their affiliates purchased 77 percent of the allowances sold.
This post-auction report also summarizes allowance purchases and holdings for “compliance-oriented entities.” This includes most compliance entities and their affiliates. Compliance-oriented entities exclude compliance entities that (in the market monitor’s assessment) have allowance holdings which exceed their estimated compliance obligations by a margin to suggest purchasing allowances for re-sale or some other investment purpose.
In Auction 31, compliance-oriented entities and their affiliates purchased 59 percent of allowances.
50 percent of allowances in circulation will be held by firms that are believed to hold them for compliance purposes following the settlement of allowances sold in Auction 31.
3. Dispersion of Bids
In the offering of allowances for the current control period, bids were submitted by 30 compliance-oriented entities and 16 other entities.
Four compliance-oriented entities and seven other entities submitted bids for a large quantity of allowances (i.e., at least 2 million tons). Overall, compliance-oriented entities accounted for 41 percent of the quantity of allowances for which bids were submitted. The quantity of allowances for which bids were submitted was 3.5 times the initial offering of 14,838,732 allowances.
4. Potential Bidders
The following 57 potential bidders submitted their intent to bid in the auction.
Astoria Energy, LLC
Berkshire Power Company, LLC
Blue Delta Energy, 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
City of Dover
Consolidated Edison Comp. of NY, Inc
Covanta Niagara I, LLC
Delaware City Refining Company, LLC
Delaware Municipal Electric Corp.
Direct Energy Business Marketing, LLC
Dominion Energy Marketing, Inc.
DRW Commodities, LLC
DTE Energy Trading, Inc.
EDF Trading North America, LLC
Energie Row, LLC
Essential Power, LLC
Exelon Generation Company, LLC
Five Rings Capital, LLC
GDF SUEZ Energy Marketing NA, Inc.
GenOn Energy Management, LLC
Hawkeye Energy Greenport
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 Systems, 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
TransCanada Power Marketing, Ltd.
Upstate New York Power Producers, LLC
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.