RGGI Auction 33 was held on September 7, 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 50 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 33, Compliance Entities and their Affiliates purchased 61 percent of the allowances sold.
In the first 33 RGGI auctions, Compliance Entities and their Affiliates purchased 77 percent of the allowances sold.
In Auction 33, Compliance-Oriented Entities purchased 42 percent of allowances.
52 percent of allowances in circulation will be held by Compliance-Oriented Entities following the settlement of allowances sold in Auction 33.
58 percent of allowances in circulation will be held for compliance purposes following the settlement of allowances sold in Auction 33. 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 26 Compliance-Oriented Entities and 15 Other Entities.
Two 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 32 percent of the quantity of allowances for which bids were submitted. The quantity of allowances for which bids were submitted was 2.8 times the initial offering of 14,911,315 allowances.
4. Potential Bidders
The following 50 potential bidders submitted their intent to bid in the auction.
Astoria Energy, 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
City of Dover
Consolidated Edison Comp. of NY, Inc.
Delaware City Refining Company, LLC
Dominion Energy Marketing, Inc.
DRW Commodities, LLC
DTE Energy Trading, Inc.
Energie Row, LLC
Exelon Generation Company, LLC
GDF SUEZ Energy Marketing NA, Inc.
GenOn Energy Management, LLC
Green Olive Holdings, LLC
Hawkeye Energy Greenport
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.
Kendall Green Energy, LLC
KMC Thermo, LLC
Koch Supply and 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 and Trade, LLC
Public Service Company of New Hampshire
Rhode Island State Energy Center, LP
Selkirk Cogen Partners, LP
Statkraft Markets GmbH
Taunton Municipal Lighting Plant
Village of Freeport
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.