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Clean Air Markets

1997 SO2 Allowance Auction

1997 EPA Allowances Available for Auction

Origin of Allowances Spot Auction
(First Usable in 1997)
6-Year Advance Auction
(First Usable 2003)
7-Year Advance Auction
(First Usable in 2004)
EPA Auction 150,000 125,000
EPA 1996 Direct Sale 25,000
Privately Offered 0 0 0
Total 150,000 25,000 125,000

Spot Auction Results
Allowances Number of Bids Number of Bidders Bid Price
Bid For: 1,224,582 Successful: 41 Successful: 23 Highest: $121.02
Sold: 150,000 Unsuccessful: 118 Unsuccessful: 20 Clearing: $106.75
(the clearing price is the lowest price at which a successful bid was made)
Total: 159 Total: 43 Lowest: $0.02
Average (weighted): $110.36

6-Year Advance Auction Results
Allowances Number of Bids Number of Bidders Bid Price
Bid For: 128,543 Successful: 6 Successful: 3 Highest: $114.02
Sold: 25,000 Unsuccessful: 38 Unsuccessful: 9 Clearing: $105.15
(the clearing price is the lowest price at which a successful bid was made)
Total: 44 Total: 12 Lowest: $48.26
Average (weighted): $105.51

7-Year Advance Auction Results
Allowances Number of Bids Number of Bidders Bid Price
Bid For: 553,406 Successful: 17 Successful: 9 Highest: $113.02
Sold: 125,000 Unsuccessful: 58 Unsuccessful: 8 Clearing: $102.15
(the clearing price is the lowest price at which a successful bid was made)
Total: 75 Total: 17 Lowest: $44.26
Average (weighted): $104.16

Spot Auction Winners
Bidder's Name Quantity
Received
Percent
of Total
Amount Paid
Tennessee Valley Authority 87,000 58.0 $9,692,370.00
Allowance Holdings Corporation 20,000 13.3 $2,170,000.00
Cantor Fitzgerald Brokerage, L.P. 15,400 10.3 $1,680,800.00
ED & F Man International 15,000 10.0 $1,650,000.00
Central Illinois Power Service Co. 10,000 6.7 $1,080,000.00
Enron Capital & Trade Resources Corp. 1,346 0.9 $143,685.50
Tampa Electric Company 1,000 0.7 $108,140.00
The Clean Air Conservancy 170 0.1 $18,963.70
The Clean Air Conservancy/Orange City Schools - Orange, NJ 16 < 0.1 $1,801.76
Acid Rain Retirement Fund 11 < 0.1 $1,210.00
The Clean Air Conservancy/Combined Schools Clean Air Preserve 10 < 0.1 $1,126.10
The Clean Air Conservancy/St. John's Ecology Club, Guam 9 < 0.1 $1,022.49
The Clean Air Conservancy/Jaffe-Hellerstein Clean Air Preserve 9 < 0.1 $1,013.49
The Clean Air Conservancy/University School - Cleveland, OH 8 < 0.1 $908.88
Maryland Environmental Law Society 7 < 0.1 $796.14
The Clean Air Conservancy/Webster-Brandon Clean Air Preserve 4 < 0.1 $440.40
The Clean Air Conservancy/Glens Falls Middle School - Glens Falls, NY 3 < 0.1 $337.83
Pennsylvania Environmental Council 2 < 0.1 $230.00
Thomas E. Naber 1 < 0.1 $121.02
Midwest Environmental Law Caucus - Valparaiso University School of Law 1 < 0.1 $120.88
William & Mary Environmental Law Society 1 < 0.1 $115.00
The Clean Air Conservancy/Elizabeth High School - Elizabeth, NJ 1 < 0.1 $114.61
The Clean Air Conservancy/Schenectady School District - Schenectady, NY 1 < 0.1 $114.61
Total 150,000 100.0 $16,553,432.41

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

6-Year Advance Auction Winners
Bidder's Name Quantity Percent
of Total
Amount Paid
Enron Capital & Trade Resources Corp. 21,747 87.0 $2,286,697.05
Cantor Fitzgerald Brokerage, L.P. 3,250 13.0 $350,687.50
Maryland Environmental Law Society 3 < 0.1 $338.06
Total 25,000 100.0 $2,637,722.61

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

7-Year Advance Auction Winners
Bidder's Name Quantity Percent
of Total
Amount Paid
Enron Capital & Trade Resources Corp. 72,222 57.8 $7,482,477.30
Virginia Electric & Power Company 25,000 20.0 $2,576,500.00
South Carolina Public Service Authority 20,000 16.0 $2,150,000.00
Detroit Edison 3,000 2.4 $306,630.00
Cantor Fitzgerald Brokerage, L.P. 2,000 1.6 $215,480.00
Wisconsin Electric 1,475 1.2 $152,234.75
Baltimore Gas & Electric Company 890 0.7 $92,586.70
MidAmerican Energy Company 410 0.3 $43,541.00
Maryland Environmental Law Society 3 <0.1 $337.06
Total 125,000 100.0 $13,019,786.81

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

Total Auction Proceeds: $35,559,214.53

Spot Auction Bids (First Usable in 1997)

Bids Quantity Bidder's Name Cumulative
Total
$121.02 1 Thomas E. Naber 1
$120.88 1 Midwest Environmental Law Caucus - Valparaiso University School of Law 2
$115.02 1 Maryland Environmental Law Society 3
$115.02 1 Maryland Environmental Law Society 4
$115.00 1 Pennsylvania Environmental Council 5
$115.00 1 Pennsylvania Environmental Council 6
$115.00 1 William & Mary Environmental Law Society 7
$114.61 20 The Clean Air Conservancy 27
$114.61 1 The Clean Air Conservancy / Schenectady School District - Schenectady, NY 28
$114.61 1 The Clean Air Conservancy / Elizabeth High School - Elizabeth, NJ 29
$114.02 1 Maryland Environmental Law Society 30
$114.02 1 Maryland Environmental Law Society 31
$113.61 9 The Clean Air Conservancy / St. John's Ecology Club, Guam 40
$113.61 8 The Clean Air Conservancy / University School - Cleveland, OH 48
$113.02 1 Maryland Environmental Law Society 49
$113.02 1 Maryland Environmental Law Society 50
$112.61 70 The Clean Air Conservancy 120
$112.61 3 The Clean Air Conservancy / Glens Falls Middle School - Glen Falls, NY 123
$112.61 10 The Clean Air Conservancy / Combined Schools Clean Air Preserve 133
$112.61 9 The Clean Air Conservancy / Jaffe - Hellerstein Clean Air Preserve 142
$112.61 16 The Clean Air Conservancy / Orange City Schools - Orange, NJ 158
$112.51 25,000 Tennessee Valley Authority 25,158
$112.02 1 Maryland Environmental Law Society 25,159
$111.51 28,000 Tennessee Valley Authority 53,159
$111.12 5,000 Cantor Fitzgerald Brokerage, L.P. 58,159
$110.61 50 The Clean Air Conservancy 58,209
$110.51 34,000 Tennessee Valley Authority 92,209
$110.10 4 The Clean Air Conservancy / Webster - Brandon Clean Air Preserve 92,213
$110.00 400 Cantor Fitzgerald Brokerage, L.P. 92,613
$110.00 5,000 Allowance Holdings Corporation 97,613
$110.00 15,000 ED & F Man International 112,613
$110.00 11 Acid Rain Retirement Fund 112,624
$109.12 5,000 Cantor Fitzgerald Brokerage, L.P. 117,624
$109.00 5,000 Allowance Holdings Corporation 122,624
$108.61 30 The Clean Air Conservancy 122,654
$108.14 1,000 Tampa Electric Company 123,654
$108.00 10,000 Central Illinois Power Service Co. 133,654
$108.00 5,000 Allowance Holdings Corporation 138,654
$107.12 5,000 Cantor Fitzgerald Brokerage, L.P. 143,654
$107.00 5,000 Allowance Holdings Corporation 148,654
$106.75 125,000 Enron Capital & Trade Resources Corp.* 273,654
*Awarded a partial fill of 1,346 out of 125,000 allowances.

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

6-Year Advance Auction (First Usable in 2003)

Bids Quantity Bidder's Name Cumulative
Total
$114.02 1 Maryland Environmental Law Society 1
$112.63 250 Cantor Fitzgerald Brokerage, L.P. 251
$112.02 1 Maryland Environmental Law Society 252
$112.02 1 Maryland Environmental Law Society 253
$107.51 3,000 Cantor Fitzgerald Brokerage, L.P. 3,253
$105.15 25,000 Enron Capital & Trade Resources Corp.* 28,253

* Awarded a partial fill of 21,747 out of 25,000 allowances.
Note: Percentages do not add to 100% due to rounding.

7-Year Advance Auction (First Usable in 2004)

Bids Quantity Bidder's Name Cumulative
Total
$113.02 1 Maryland Environmental Law Society 1
$112.02 1 Maryland Environmental Law Society 2
$112.02 1 Maryland Environmental Law Society 3
$110.10 110 MidAmerican Energy Company 113
$110.00 10,000 South Carolina Public Service Authority 10,113
$109.19 1,000 Cantor Fitzgerald Brokerage, L.P. 11,113
$108.10 100 MidAmerican Energy Company 11,213
$106.29 1,000 Cantor Fitzgerald Brokerage, L.P. 12,213
$105.00 10,000 South Carolina Public Service Authority 22,213
$104.15 35,000 Enron Capital & Trade Resources Corp. 57,213
$104.03 890 Baltimore Gas & Electric Company 58,103
$103.21 1,475 Wisconsin Electric 59,578
$103.15 35,000 Enron Capital & Trade Resources Corp. 94,578
$103.10 200 MidAmerican Energy Company 94,778
$103.06 25,000 Virginia Electric & Power Company 119,778
$102.21 3,000 Detroit Edison 122,778
$102.15 35,000 Enron Capital & Trade Resources Corp.* 157,778

*Awarded a partial fill of 2,222 out of 35,000 allowances.

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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