2008 SO2 Allowance Auction
| Origin of Allowances | Spot Auction (First Usable in 2008) |
7-Year Advance Auction (First Usable in 2015) |
|---|---|---|
| EPA | 125,000 | 125,000 |
| Privately Offered | 0 | 0 |
| Total | 125,000 | 125,000 |
| Allowances | Number of Bids | Number of Bidders | Bid Price |
|---|---|---|---|
| Bid For: 599,370 | Successful: 52 | Successful: 17 | Highest: $651.00 |
| Sold: 125,000 | Unsuccessful: 44 | Unsuccessful: 2 | Clearing: $380.01 (the clearing price is the lowest price at which a successful bid was made) |
| Total: 96 | Total: 19 | Lowest: $0.27 | |
| Weighted Average of Winning Bids: $389.91 |
| Allowances | Number of Bids | Number of Bidders | Bid Price |
|---|---|---|---|
| Bid For: 1,143,816 | Successful: 16 | Successful: 10 | Highest: $400.00 |
| Sold: 125,000 | Unsuccessful: 46 | Unsuccessful: 10 | Clearing: $131.50 (the clearing price is the lowest price at which a successful bid was made) |
| Total: 62 | Total: 20 | Lowest: $0.27 | |
| Weighted Average of Winning Bids: $136.14 |
| Bidder's Name | Quantity | Percentage of Total Allowances | Amount Paid |
|---|---|---|---|
| KS & T, LP | 45,000 | 36.000 | $17,245,000.00 |
| Constellation Energy Commodities Group, Inc. | 27,500 | 22.000 | $10,701,375.00 |
| LUME | 18,723 | 14.978 | $7,487,813.31 |
| Merrill Lynch Commodities Inc. | 10,000 | 8.000 | $3,975,700.00 |
| The Detroit Edison Company | 6,500 | 5.200 | $2,582,645.00 |
| Cantor Fitzgerald Brokerage | 6,000 | 4.800 | $2,355,360.00 |
| Bear Energy LP | 3,995 | 3.196 | $1,565,704.95 |
| Louis Dreyfus Energy Services L.P. | 2,500 | 2.000 | $955,025.00 |
| Fortis Energy Marketing & Trading | 2,000 | 1.600 | $790,000.00 |
| TransAlta Energy Marketing (U.S.) | 2,000 | 1.600 | $775,040.00 |
| DigiLog Global Environmental | 750 | 0.600 | $288,750.00 |
| Acid Rain Retirement Fund | 10 | 0.008 | $4,780.00 |
| CAC Charitable Trust | 10 | 0.008 | $4,300.00 |
| Green Country Energy, LLC | 8 | 0.006 | $5,208.00 |
| Ithaca College - Campaign For Ithaca`s Air | 2 | 0.002 | $1,046.00 |
| Bates College Environmental Economics | 1 | 0.001 | $463.00 |
| AEM 250 Cornell University 2008 | 1 | 0.001 | $455.00 |
| TOTALS | 125,000 | 100% | $48,738,665.26 |
| Bidder's Name | Quantity | Percentage of Total Allowances | Amount Paid |
|---|---|---|---|
| Dominion Energy Marketing, Inc. | 75,572 | 60.458 | $10,286,694.50 |
| Virginia Electric and Power Co. | 49,412 | 39.530 | $6,725,803.00 |
| Green Country Energy, LLC | 8 | 0.006 | $2,808.00 |
| Rutgers Prep School Environmental Club | 2 | 0.002 | $490.00 |
| Clarkson University - ECO | 1 | 0.001 | $400.00 |
| Reed College | 1 | 0.001 | $389.00 |
| Cochran Grandchildren Environmentalists | 1 | 0.001 | $200.00 |
| Bates College Environmental Economics | 1 | 0.001 | $155.00 |
| Cornell University - AEM 451/Econ 409 | 1 | 0.001 | $143.69 |
| University of Wisconsin Environmental Economics 343 | 1 | 0.001 | $140.80 |
| TOTALS | 125,000 | 100% | $17,017,223.99 |
Total Auction Proceeds: $65,755,889.25
| Bids | Bidder's Name | Quantity | Total |
|---|---|---|---|
| $651.00 | Green Country Energy, LLC | 8 | 8 |
| $523.00 | Ithaca College - Campaign For Ithaca`s Air | 2 | 10 |
| $478.00 | Acid Rain Retirement Fund | 10 | 20 |
| $463.00 | Bates College Environmental Economics | 1 | 21 |
| $455.00 | AEM 250 Cornell University 2008 | 1 | 22 |
| $430.00 | CAC Charitable Trust | 10 | 32 |
| $415.07 | Merrill Lynch Commodities Inc. | 2,500 | 2,532 |
| $409.33 | The Detroit Edison Company | 500 | 3,032 |
| $407.67 | LUME | 1,311 | 4,343 |
| $406.33 | The Detroit Edison Company | 500 | 4,843 |
| $406.12 | LUME | 2,247 | 7,090 |
| $405.06 | Cantor Fitzgerald Brokerage | 1,000 | 8,090 |
| $405.03 | Bear Energy LP | 1,000 | 9,090 |
| $403.33 | The Detroit Edison Company | 500 | 9,590 |
| $402.67 | LUME | 5,055 | 14,645 |
| $401.12 | LUME | 5,055 | 19,700 |
| $400.33 | The Detroit Edison Company | 1,000 | 20,700 |
| $400.07 | Merrill Lynch Commodities Inc. | 2,500 | 23,200 |
| $400.06 | Cantor Fitzgerald Brokerage | 1,000 | 24,200 |
| $400.05 | Constellation Energy Commodities Group, Inc. | 2,500 | 26,700 |
| $400.00 | Fortis Energy Marketing & Trading | 1,000 | 27,700 |
| $397.55 | Constellation Energy Commodities Group, Inc. | 2,500 | 30,200 |
| $397.33 | The Detroit Edison Company | 1,000 | 31,200 |
| $395.67 | LUME | 2,247 | 33,447 |
| $395.06 | Cantor Fitzgerald Brokerage | 1,000 | 34,447 |
| $395.05 | Constellation Energy Commodities Group, Inc. | 2,500 | 36,947 |
| $395.04 | Bear Energy LP | 1,500 | 38,447 |
| $395.02 | TransAlta Energy Marketing (U.S.) | 500 | 38,947 |
| $394.33 | The Detroit Edison Company | 1,500 | 40,447 |
| $392.55 | Constellation Energy Commodities Group, Inc. | 2,500 | 42,947 |
| $391.00 | KS & T, LP | 10,000 | 52,947 |
| $390.07 | Merrill Lynch Commodities Inc. | 2,500 | 55,447 |
| $390.06 | Cantor Fitzgerald Brokerage | 1,000 | 56,447 |
| $390.05 | Constellation Energy Commodities Group, Inc. | 5,000 | 61,447 |
| $390.02 | TransAlta Energy Marketing (U.S.) | 500 | 61,947 |
| $390.01 | Louis Dreyfus Energy Services L.P. | 500 | 62,447 |
| $390.00 | Fortis Energy Marketing & Trading | 1,000 | 63,447 |
| $389.33 | The Detroit Edison Company | 1,500 | 64,947 |
| $387.67 | LUME | 2,808 | 67,755 |
| $387.55 | Constellation Energy Commodities Group, Inc. | 2,500 | 70,255 |
| $385.07 | Merrill Lynch Commodities Inc. | 2,500 | 72,755 |
| $385.06 | Cantor Fitzgerald Brokerage | 1,000 | 73,755 |
| $385.05 | Constellation Energy Commodities Group, Inc. | 2,500 | 76,255 |
| $385.02 | TransAlta Energy Marketing (U.S.) | 500 | 76,755 |
| $385.00 | DigiLog Global Environmental | 750 | 77,505 |
| $382.55 | Constellation Energy Commodities Group, Inc. | 2,500 | 80,005 |
| $381.00 | KS & T, LP | 35,000 | 115,005 |
| $380.06 | Cantor Fitzgerald Brokerage | 1,000 | 116,005 |
| $380.05 | Constellation Energy Commodities Group, Inc. | 5,000 | 121,005 |
| $380.02 | TransAlta Energy Marketing (U.S.) | 500 | 121,505 |
| $380.01 | Louis Dreyfus Energy Services L.P. | 2,000 | 123,505 |
| $380.01 | Bear Energy LP* | 5,000 | 128,505 |
Bids below this line were unsuccessful because they were below the clearing price of $380.01. |
|||
| $380.00 | Fortis Energy Marketing & Trading | 1,000 | 129,505 |
| $376.00 | KS & T, LP | 10,000 | 139,505 |
| $375.03 | Bear Energy LP | 7,500 | 147,005 |
| $375.03 | LUME | 1,365 | 148,370 |
| $375.02 | TransAlta Energy Marketing (U.S.) | 750 | 149,120 |
| $372.55 | Constellation Energy Commodities Group, Inc. | 1,000 | 150,120 |
| $370.02 | TransAlta Energy Marketing (U.S.) | 750 | 150,870 |
| $370.01 | Louis Dreyfus Energy Services L.P. | 4,000 | 154,870 |
| $370.00 | Fortis Energy Marketing & Trading | 1,000 | 155,870 |
| $367.55 | Constellation Energy Commodities Group, Inc. | 1,000 | 156,870 |
| $366.00 | KS & T, LP | 10,000 | 166,870 |
| $365.02 | TransAlta Energy Marketing (U.S.) | 750 | 167,620 |
| $362.55 | Constellation Energy Commodities Group, Inc. | 1,000 | 168,620 |
| $360.02 | TransAlta Energy Marketing (U.S.) | 750 | 169,370 |
| $360.01 | Louis Dreyfus Energy Services L.P. | 9,000 | 178,370 |
| $360.00 | Fortis Energy Marketing & Trading | 1,000 | 179,370 |
| $357.55 | Constellation Energy Commodities Group, Inc. | 1,000 | 180,370 |
| $355.02 | Bear Energy LP | 20,000 | 200,370 |
| $355.02 | TransAlta Energy Marketing (U.S.) | 750 | 201,120 |
| $352.55 | Constellation Energy Commodities Group, Inc. | 1,000 | 202,120 |
| $350.05 | Constellation Energy Commodities Group, Inc. | 5,000 | 207,120 |
| $350.02 | TransAlta Energy Marketing (U.S.) | 750 | 207,870 |
| $350.01 | Louis Dreyfus Energy Services L.P. | 16,000 | 223,870 |
| $350.00 | Fortis Energy Marketing & Trading | 1,000 | 224,870 |
| $345.02 | TransAlta Energy Marketing (U.S.) | 750 | 225,620 |
| $340.02 | TransAlta Energy Marketing (U.S.) | 750 | 226,370 |
| $340.00 | Fortis Energy Marketing & Trading | 1,000 | 227,370 |
| $330.02 | TransAlta Energy Marketing (U.S.) | 1,000 | 228,370 |
| $330.01 | Bear Energy LP | 25,000 | 253,370 |
| $330.00 | Fortis Energy Marketing & Trading | 1,000 | 254,370 |
| $320.02 | TransAlta Energy Marketing (U.S.) | 1,000 | 255,370 |
| $320.00 | Fortis Energy Marketing & Trading | 1,000 | 256,370 |
| $317.50 | MPA | 1,000 | 257,370 |
| $310.01 | Bear Energy LP | 30,000 | 287,370 |
| $310.00 | Fortis Energy Marketing & Trading | 1,000 | 288,370 |
| $300.00 | Fortis Energy Marketing & Trading | 1,000 | 289,370 |
| $220.50 | MPA | 1,000 | 290,370 |
| $200.02 | Bear Energy LP | 35,000 | 325,370 |
| $107.10 | MPA | 2,000 | 327,370 |
| $100.01 | Louis Dreyfus Energy Services L.P. | 5,000 | 332,370 |
| $52.50 | MPA | 2,000 | 334,370 |
| $6.30 | MPA | 40,000 | 374,370 |
| $3.10 | Shell Energy North America (US), L.P. | 125,000 | 499,370 |
| $0.27 | MPA | 100,000 | 599,370 |
*Awarded a partial fill of 1,495 out of 5,000 allowances bid for.
| Bids | Bidder's Name | Quantity | Total |
|---|---|---|---|
| $400.00 | Clarkson University - ECO | 1 | 1 |
| $389.00 | Reed College | 1 | 2 |
| $351.00 | Green Country Energy, LLC | 8 | 10 |
| $245.00 | Rutgers Prep School Environmental Club | 2 | 12 |
| $200.00 | Cochran Grandchildren Environmentalists | 1 | 13 |
| $155.00 | Bates College Environmental Economics | 1 | 14 |
| $143.69 | Cornell University - AEM 451/Econ 409 | 1 | 15 |
| $140.80 | University of Wisconsin Environmental Economics 343 | 1 | 16 |
| $140.00 | Dominion Energy Marketing, Inc. | 19,122 | 19,138 |
| $140.00 | Virginia Electric and Power Co. | 12,500 | 31,638 |
| $137.50 | Dominion Energy Marketing, Inc. | 19,122 | 50,760 |
| $137.50 | Virginia Electric and Power Co. | 12,500 | 63,260 |
| $135.25 | Dominion Energy Marketing, Inc. | 19,122 | 82,382 |
| $135.25 | Virginia Electric and Power Co. | 12,500 | 94,882 |
| $131.50 | Virginia Electric and Power Co. | 11,912 | 106,794 |
| $131.50 | Dominion Energy Marketing, Inc.* | 18,222 | 125,016 |
Bids below this line were unsuccessful because they were below the clearing price of $131.50 |
|||
| $129.50 | Credit Suisse Energy LLC | 2,500 | 127,516 |
| $126.50 | Credit Suisse Energy LLC | 5,000 | 132,516 |
| $125.40 | DTE | 4,700 | 137,216 |
| $122.10 | DTE | 4,700 | 141,916 |
| $121.50 | Credit Suisse Energy LLC | 5,000 | 146,916 |
| $120.01 | Louis Dreyfus Energy Services L.P. | 5,000 | 151,916 |
| $120.00 | Credit Suisse Energy LLC | 5,000 | 156,916 |
| $118.80 | DTE | 4,700 | 161,616 |
| $117.17 | Olduvai Gorge | 10,000 | 171,616 |
| $115.50 | DTE | 4,700 | 176,316 |
| $115.06 | Cantor Fitzgerald Brokerage | 2,500 | 178,816 |
| $115.00 | Credit Suisse Energy LLC | 10,000 | 188,816 |
| $112.20 | DTE | 4,700 | 193,516 |
| $111.17 | Olduvai Gorge | 10,000 | 203,516 |
| $110.06 | Cantor Fitzgerald Brokerage | 2,500 | 206,016 |
| $110.00 | Credit Suisse Energy LLC | 25,000 | 231,016 |
| $108.90 | DTE | 4,700 | 235,716 |
| $107.01 | Louis Dreyfus Energy Services L.P. | 10,000 | 245,716 |
| $105.60 | DTE | 4,700 | 250,416 |
| $105.17 | Olduvai Gorge | 10,000 | 260,416 |
| $105.06 | Cantor Fitzgerald Brokerage | 2,500 | 262,916 |
| $105.00 | Credit Suisse Energy LLC | 25,000 | 287,916 |
| $102.30 | DTE | 4,700 | 292,616 |
| $100.06 | Cantor Fitzgerald Brokerage | 2,500 | 295,116 |
| $100.01 | Louis Dreyfus Energy Services L.P. | 20,000 | 315,116 |
| $100.00 | Credit Suisse Energy LLC | 25,000 | 340,116 |
| $99.17 | Olduvai Gorge | 19,000 | 359,116 |
| $99.00 | DTE | 4,700 | 363,816 |
| $93.17 | Olduvai Gorge | 19,000 | 382,816 |
| $90.01 | Louis Dreyfus Energy Services L.P. | 40,000 | 422,816 |
| $90.00 | Credit Suisse Energy LLC | 22,500 | 445,316 |
| $87.17 | Olduvai Gorge | 19,000 | 464,316 |
| $85.01 | Bear Energy LP | 10,000 | 474,316 |
| $81.17 | Olduvai Gorge | 16,000 | 490,316 |
| $75.02 | Bear Energy LP | 10,000 | 500,316 |
| $75.00 | KS & T, LP | 50,000 | 550,316 |
| $55.01 | Bear Energy LP | 20,000 | 570,316 |
| $45.03 | Bear Energy LP | 25,000 | 595,316 |
| $30.00 | Morgan Stanley | 50,000 | 645,316 |
| $20.00 | Morgan Stanley | 50,000 | 695,316 |
| $10.00 | Morgan Stanley | 25,000 | 720,316 |
| $6.01 | Louis Dreyfus Energy Services L.P. | 50,000 | 770,316 |
| $5.01 | Bear Energy LP | 60,000 | 830,316 |
| $3.10 | Shell Energy North America (US), L.P. | 125,000 | 955,316 |
| $1.01 | Louis Dreyfus Energy Services L.P. | 88,500 | 1,043,816 |
| $0.27 | MPA | 100,000 | 1,143,816 |
*Awarded a partial fill of 18,206 out of 18,222 allowances bid for.
The 2008 Auction Proceeds Spreadsheet (XLS)(5 pp, 55 K) provides the same results. Download an Excel viewer. Exit