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Clean Air Markets

1996 SO2 Allowance Auction

1996 – Allowances Available for Auction

Origin of
Allowances
Spot Auction
(First Usable in 1996)
6-Year Advance Auction
(First Usable 2002)
7-Year Advance Auction
(First Usable in 2003)
EPA Auction 150,000 100,000
EPA 1995
Direct Sale
25,000
Privately
Offered
8,000 7,000 7,000
Total 158,000 32,000 107,000

Spot Auction Results (First Usable in 1996)

  • Allowances
    • Bid For: 911,735
    • Sold: 150,000

  • Number of Bids
    • Successful: 47
    • Unsuccessful: 92
    • Total: 139

  • Number of Bidders
    • Successful: 29
    • Unsuccessful: 13
    • Total: 42

  • Bid Prices
    • Highest: $300.00
    • Clearing: $66.05
    • Lowest: $39.00
    • Average Winning: $68.14 (weighted)
Bidder's Name Quantity Percent
of Total
Amount Paid
Enron Power Marketing, Inc. 107,252 71.5 $7,306,939.60
AIG Trading Corporation 11,500 7.7 $805,690.00
Allegheny Power System 10,000 6.7 $671,300.00
Cantor Fitzgerald Brokerage, L.P. 9,725 6.5 $663,525.00
Detroit Edison Company 9,000 6.0 $603,990.00
Kerr-McGee Coal Corporation 2,000 1.3 $132,100.00
IN.H.A.L.E. / Glens Falls, N.Y. Middle School 292 0.2 $20,442.92
National Healthy Air License Exchange 137 0.1 $9,330.00
Laurel Hill Works 24 < 0.1 $1,699.92
Acid Rain Retirement Fund 16 < 0.1 $1,280.00
IN.H.A.L.E. / Schenectady, N.Y. Schools 11 < 0.1 $770.00
University of Maryland School of Law 8 < 0.1 $595.16
University of Michigan Environmental Law Society 4 < 0.1 $700.00
IN.H.A.L.E. / Select National Schools and Organizations 4 < 0.1 $280.00
IN.H.A.L.E. / Lower Dauphin High School Ecology Club 4 < 0.1 $280.00
Renee Rico 3 < 0.1 $256.41
Donald B. Benson 3 < 0.1 $240.00
CUNY Environmental Law Students Association 2 < 0.1 $290.00
Catholic University Environmental Law Society 2 < 0.1 $250.00
IN.H.A.L.E. / Elizabeth, N.J. High School 2 < 0.1 $140.00
IN.H.A.L.E. / Solebury Environmental Science Class 2 <0.1 $140.00
IN.H.A.L.E. / Wheatley School Environmental Action Committee 2 < 0.1 $140.00
New England School of Law - Environmental Law Society 1 < 0.1 $300.00
Thomas M. Cooley Environmental Law Society 1 < 0.1 $200.00
University of Minnesota Environmental Law Society 1 < 0.1 $175.00
Valparaiso University School of Law 1 < 0.1 $151.88
William D. Wamton 1 < 0.1 $135.00
James M. Parker 1 < 0.1 $105.00
Westerfield & Associates 1 < 0.1 $91.00
TOTAL 150,000 100.0 $10,221,536.89

Note: Percentages do not add to 100% due to rounding.

6-Year Auction Results (First Usable in 2002)

  • Allowances
    • Bid For: 148,026
    • Sold: 25,000

  • Number of Bids
    • Successful: 9
    • Unsuccessful: 25
    • Total: 34

  • Number of Bidders
    • Successful: 4
    • Unsuccessful: 5
    • Total: 9

  • Bid Prices
    • Highest: $150.00
    • Clearing: $64.14
    • Lowest: $0.01
    • Average Winning: $65.36 (weighted)
Bidder's Name Quantity Percent
of Total
Amount Paid
Virginia Electric & Power Company 17,000 68.0 $1,111,960.00
Detroit Edison Company 6,000 24.0 $393,660.00
Baltimore Gas and Electric Company 1,999 8.0 $128,215.86
Environmental Law Society 1 < 0.1 $150.00
TOTAL 25,000 100.0% $1,633,985.86

Note: Percentages do not add to 100% due to rounding

7-Year Auction Results (First Usable in 2003)

  • Allowances
    • Bid For: 404,634
    • Sold: 100,000

  • Number of Bids
    • Successful: 25
    • Unsuccessful: 67
    • Total: 92

  • Number of Bidders
    • Successful: 11
    • Unsuccessful: 9
    • Total: 20

  • Bid Prices
    • Highest: $151.00
    • Clearing: $63.01
    • Lowest: $0.50
    • Average Winning: $64.21 (weighted)
Bidder's Name Quantity Percent
of Total
Amount Paid
Virginia Electric & Power Company 66,000 66.0 $4,216,360.00
Enron Power Marketing, Inc. 11,555 11.6 $728,080.55
AIG Trading Corporation 10,000 10.0 $660,600.00
Detroit Edison Company 9,000 9.0 $576,990.00
Baltimore Gas and Electric Company 2,575 2.6 $163,924.50
Muscatine Power and Water Company 500 0.5 $50,265.00
Anne E. Kilkenny 300 0.3 $20,103.00
Robert T. Stewart 65 0.1 $4,450.00
University of Maryland School of Law 3 < 0.1 $203.06
Pennsylvania Environmental Council 1 < 0.1 $151.00
Peter Zapfel 1 < 0.1 $118.00
TOTAL 100,000 100.0% $6,421,245.11

Note: Percentages do not add to 100% due to rounding

An Excel spreadsheet (6.1 Mb) provides auction proceeds at the unit and plant level for each year. Download an Excel viewer exit EPA

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