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Clean Air Markets

2000 SO2 Allowance Auction

2000 EPA Allowance Auction Results

Allowances Available for Auction
Origin of Allowances Spot Auction
(First Usable in 2000)
7-Year Advance Auction
(First Usable in 2007)
EPA 125,000 125,000
Privately Offered 5,388 2,500
Total 130,388 127,500

Spot Auction Results
Allowances Number of Bids Number of Bidders Bid Price
Bid for: 318,509 Successful: 51 Successful: 23 Highest: $250.00
Sold: 128,388 Unsuccessful: 34 Unsuccessful: 13 Clearing: $126.00
(the clearing price is the lowest price at which a successful bid was made)
Total: 85 Total: 36 Lowest: $80.05
    Average (weighted): $130.69

7-Year Advance Auction Results
Allowances Number of Bids Number of Bidders Bid Price
Bid For: 210,224 Successful: 21 Successful: 6 Highest: $200.00
Sold: 125,000 Unsuccessful: 3 Unsuccessful: 2 Clearing: $55.27
(the clearing price is the lowest price at which a successful bid was made)
Total: 24 Total: 8 Lowest: $40.57
Average (weighted): $68.32

Spot Auction Winners
Bidder's Name Quantity Percentage of
Total Allowances
Amount Paid
American Electric Power 60,000 46.73 $7,969,500.00
Enron North America 19,850 15.46 $2,549,962.50
PG&E Energy Trading - Power, L.P. 15,700 12.23 $1,998,542.00
The Dayton Power and Light Company 10,000 7.79 $1,275,000.00
Baltimore Gas and Electric Company 9,211 7.17 $1,175,586.00
The Detroit Edison Company 5,300 4.13 $703,211.00
South Carolina Electric & Gas Co. 5,000 3.89 $650,000.00
Sunbury Generation, LLC 2,500 1.95 $337,375.00
UGI Development Company 500 0.39 $65,000.00
Sacramento Municipal Utility District 200 0.16 $37,154.00
KUA Cane Island 74 0.06 $10,508.00
Acid Rain Retirement Fund 13 0.01 $1,950.00
Maryland Environmental Law Society 10 0.01 $1,475.00
Isaak Walton League, Va / Clean Air Conservancy 5 < 0.01 $680.00
NATSOURCE LLC 5 < 0.01 $692.50
The Clean Air Conservancy 5 < 0.01 $665.05
Avista Corp. 4 < 0.01 $600.00
Birney School - CAC 3 < 0.01 $423.00
IU School of Law - ELS 3 < 0.01 $435.00
CSU Environmental Finance / CAC 2 < 0.01 $277.02
ARME 451 / ECON 409 Cornell Univ. 2000 1 < 0.01 $135.00
Midwest Environmental Law Caucus 1 < 0.01 $250.00
St. Domenico School Environmental Club / CAC 1 < 0.01 $140.00
TOTALS 128,388 100% $16,779,561.07

7-Year Advance Auction Winners
Bidder's Name Quantity Percentage of
Total Allowances
Amount Paid
American Electric Power 109,776 87.82 $7,536,294.52
Cantor Fitzgerald Brokerage, L.P. 10,120 8.10 $615,150.00
Southern Indiana Gas and Electric Company 5,000 4.00 $372,500.00
Sacramento Municipal Utility District 100 0.08 $15,577.00
ARME - Cornell University 3 < 0.01 $405.00
Benjamin N. Cardozo School of Law Envir Law Society 1 < 0.01 $200.00
TOTALS 125,000 100% $8,540,126.52
    TOTAL AUCTION PROCEEDS $25,319,687.59

Spot Bids (First Usable in 2000)

Bids Bidder's Name Quantity Total
$250.00 Midwest Environmental Law Caucus 1 1
$200.77 Sacramento Municipal Utility District 100 101
$175.77 Sacramento Municipal Utility District 50 151
$165.77 Sacramento Municipal Utility District 50 201
$150.00 Avista Corp. 2 203
$150.00 Avista Corp. 2 205
$150.00 Maryland Environmental Law Society 5 210
$150.00 Acid Rain Retirement Fund 13 223
$145.00 Maryland Environmental Law Society 5 228
$145.00 IU School of Law - ELS 3 231
$142.00 KUA Cane Island Unit No. 1 10 241
$142.00 KUA Cane Island Unit No. 3 38 279
$142.00 KUA Cane Island Unit No. 2 26 305
$141.00 Birney School - CAC 3 308
$140.00 St. Domenico School Environmental Club / CAC 1 309
$138.51 CSU Environmental Finance / CAC 2 311
$138.50 NATSOURCE LLC 5 316
$138.50 American Electric Power 10,000 10,316
$136.23 American Electric Power 10,000 20,316
$136.00 Isaak Walton League, Va / Clean Air Conservancy 5 20,321
$135.00 ARME 451 / ECON 409 Cornell Univ. 2000 1 20,322
$134.95 Sunbury Generation, LLC 2,500 22,822
$134.11 The Detroit Edison Company 500 23,322
$133.96 American Electric Power 10,000 33,322
$133.81 The Detroit Edison Company 500 33,822
$133.49 The Detroit Edison Company 500 34,322
$133.19 The Detroit Edison Company 500 34,822
$133.01 The Clean Air Conservancy 5 34,827
$132.93 The Detroit Edison Company 500 35,327
$132.63 The Detroit Edison Company 500 35,827
$132.37 The Detroit Edison Company 500 36,327
$132.07 The Detroit Edison Company 500 36,827
$131.78 PG&E Energy Trading - Power, L.P. 1,000 37,827
$131.74 The Detroit Edison Company 500 38,327
$131.69 American Electric Power 10,000 48,327
$131.44 The Detroit Edison Company 500 48,827
$131.07 The Detroit Edison Company 300 49,127
$130.89 Enron North America 9,550 58,677
$130.00 UGI Development Company 500 59,177
$130.00 South Carolina Electric & Gas Co. 5,000 64,177
$129.42 American Electric Power 10,000 74,177
$129.00 Baltimore Gas and Electric Company 2,500 76,677
$128.77 PG&E Energy Trading - Power, L.P. 1,000 77,677
$128.00 Baltimore Gas and Electric Company 2,500 80,177
$127.50 The Dayton Power and Light Company 10,000 90,177
$127.15 American Electric Power 10,000 100,177
$127.00 Baltimore Gas and Electric Company 2,500 102,677
$126.87 PG&E Energy Trading - Power, L.P. 1,000 103,677
$126.86 PG&E Energy Trading - Power, L.P. 12,700 116,377
$126.21 Enron North America* 10,300 126,677
$126.00 Baltimore Gas and Electric Company** 2,500 129,177

Bids below this line were unsuccessful because they were below the clearing price of $126.00.

EPA rules state that in the event two identical bids are submitted that would exhaust all remaining allowances, the auction Administrator shall allocate all allowances to one of the bidders by lottery.
 

$126.00   5,000 134,177
$125.00   500 134,677
$124.88   10,000 144,677
$123.87   1,000 145,677
$122.61   10,000 155,677
$122.00   5,000 160,677
$121.46   2,500 163,177
$120.34   10,000 173,177
$120.05   50 173,227
$120.00   1 173,228
$118.07   10,000 183,228
$118.00   5,000 188,228
$117.77   2,500 190,728
$115.80   10,000 200,728
$115.57   30,000 230,728
$115.00   1 230,729
$114.00   5,000 235,729
$113.53   15,000 250,729
$112.51   80 250,809
$110.00   10,000 260,809
$110.00   5,000 265,809
$110.00   10,000 275,809
$109.86   2,500 278,309
$107.96   2,500 280,809
$103.57   5,000 285,809
$102.25   5,000 290,809
$100.03   100 290,909
$100.01   10,000 300,909
$99.57   5,000 305,909
$98.48   2,500 308,409
$95.57   5,000 313,409
$94.47   2,500 315,909
$80.52   2,500 318,409
$80.05   100 318,509

*This bid included 1,677 offered allowances
**This bid was partially filled at 1,711 allowances, all of which were offered allowances.

7-Year Advance Spot Bids (First Usable in 2007)

Bids Bidder's Name Quantity Total
$200.00 Benjamin N Cardozo School of Law Envir Law Society 1 1
$160.00 ARME - Cornell University 1 2
$155.77 Sacramento Municipal Utility District 100 102
$135.00 ARME - Cornell University 1 103
$110.00 ARME - Cornell University 1 104
$87.50 American Electric Power 5,000 5,104
$84.77 American Electric Power 5,000 10,104
$82.04 American Electric Power 5,000 15,104
$79.31 American Electric Power 7,500 22,604
$78.75 Cantor Fitzgerald Brokerage, L.P. 120 22,724
$76.58 American Electric Power 7,500 30,224
$74.50 Southern Indiana Gas and Electric Company 5,000 35,224
$73.85 American Electric Power 7,500 42,724
$71.12 American Electric Power 10,000 52,724
$68.39 American Electric Power 10,000 62,724
$65.66 American Electric Power 10,000 72,724
$62.93 American Electric Power 10,000 82,724
$60.57 Cantor Fitzgerald Brokerage, L.P. 10,000 92,724
$60.20 American Electric Power 10,000 102,724
$57.47 American Electric Power 12,500 115,224
$55.27 American Electric Power* 25,000 140,224

Bids below this line were unsuccessful because they were below the clearing price of $55.27.
 
$50.57   20,000 160,224
$50.26   20,000 180,224
$40.57   30,000 210,224

* Awarded a partial fill of 9,776 out of 25,000 allowances bid for.

2000 Privately Offered Allowances and Floor Prices

Private allowance holders (such as utilities or brokers) may offer bids for sale in both the spot auction and the 7 year advance auction. When placing an offer, the allowance holder specifies a minimum price it will accept. EPA does not disclose the minimum price for allowances that were successfully sold through the auction.

Auction Offers (Spot)
Floor Offer Price Quantity Cumulative Total
********** 1,677* 1,677
********** 1,711** 3,388
$134.95 1,000 4,388
$148.44 1,000 5,388

* 1,677 allowances, with offer prices equal to or less than $126.21, were sold at $126.21.
** 1,711 allowances, with offer prices equal to or less than $126.00, were sold at $126.00.

Auction Offers (7-Year Advance)
Floor Offer Price Quantity Cumulative Total
$105.92 2,500 2,500

An Excel spreadsheet (Excel, 36K) containing all of the data is also available.

Another Excel spreadsheet (Excel, 10 MB) provides auction proceeds at the unit and plant level for each year. Download an Excel viewer exit EPA

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