Clean Air Markets

2008 SO2 Allowance Auction

Auction Results
Spot Auction Bids
7-Year Auction Bids

Allowances Available for 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

Spot Auction Results
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

7-Year Advance Auction Results
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

Spot Auction Winners
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

7-Year Advance Auction Winners
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

Spot Bids (First Usable in 2008)
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

7-Year Advance Bids (First Usable in 2015)
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

The 2008 Auction Proceeds Spreadsheet (XLS)(5 pp, 55 K) provides the same results. Download an Excel viewer. Exit

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