Jump to main content or area navigation.

Contact Us

Clean Air Markets

2003 SO2 Allowance Auction

2003 EPA Allowance Auction Results

Allowances Available for Auction 
Origin of Allowances Spot Auction
(First Usable in 2003)
7-Year Advance Auction
(First Usable in 2010)
EPA 125,000 125,000
Privately Offered 10  
Total 125,010 125,000

Spot Auction Results  
Allowances Number of Bids Number of Bidders Bid Price
Bid For: 618,565 Successful: 20 Successful: 20 Highest: $250.00
Sold: 125,000 Unsuccessful: 62 Unsuccessful: 18 Clearing: $171.80
(the clearing price is the lowest price at which a successful bid was made)
  Total: 82 Total: 38 Lowest: $2.06
      Average: $171.81 (weighted by the number of allowances in each bid)


7-Year Advance Auction Results
Allowances Number of Bids Number of Bidders Bid Price
Bid For: 438,500 Successful: 6 Successful: 2 Highest: $92.00
Sold: 125,000 Unsuccessful: 34 Unsuccessful: 5 Clearing: $80.00
(the clearing price is the lowest price at which a successful bid was made)
  Total: 40 Total: 7 Lowest: $10.00
      Average: $86.40
(weighted by the number of allowances in each bid)

Spot Auction Winners
Bidder's Name Quantity Percentage of
Total Allowances
Amount Paid
American Electric Power 124,971 99.9 $21,470,017.80
Acid Rain Retirement Fund 7 < 0.01 $1,288.00
Midwest Environmental Law Caucus, Valparaiso Univ. School of Law 4 < 0.01 $800.00
USF St. Pete Friends for Better Air 2 < 0.01 $433.10
California Western School of Law Environmental Law Society 1 < 0.01 $250.00
University of Northern Iowa Conservation Club 1 < 0.01 $200.00
U. of Georgia Sierra Student Coalition/CAC 1 < 0.01 $200.00
St. Law U. Econ for Enviros '02/CAC 1 < 0.01 $200.00
South Kortright Central School/CAC 1 < 0.01 $200.00
SMU Environmental Law Society/CAC 1 < 0.01 $200.00
McDonald Elementary/CAC 1 < 0.01 $200.00
Maharishi U. of Mgt./CAC 1 < 0.01 $200.00
Georgia State University Environmental Law Society 1 < 0.01 $200.00
Fairview Elementary/CAC 1 < 0.01 $200.00
Envt. Law Assn. of G.W. School of Law/CAC 1 < 0.01 $200.00
Elton H. Riemer, CPA 1 < 0.01 $200.00
Birney Elementary School 1 < 0.01 $200.00
David Anderson - Environmental Economics 1 < 0.01 $186.00
Bates College Environmental Economics 1 < 0.01 $185.50
EPTRADE 1 < 0.01 $176.00
TOTALS 125,000 100% $21,475,736.40

7-Year Advance Auction Winners
Bidder's Name Quantity Percentage of
Total Allowances
Amount Paid
American Electric Power 115,000 92.0 $10,000,000.00
Virginia Electric & Power Co. 10,000 8.0 $800,200.00
TOTALS 125,000 100% $10,800,200.00
 
  Total Auction Proceeds $32,275,936.40

Spot Bids (First Usable in 2003)

Bids Bidder's Name Quantity Total
$250.00 California Western School of Law Environmental Law Society 1 1
$216.55 USF St. Pete Friends for Better Air 2 3
$200.00 University of Northern Iowa Conservation Club 1 4
$200.00 Birney Elementary School 1 5
$200.00 U. of Georgia Sierra Student Coalition/CAC 1 6
$200.00 South Kortright School/CAC 1 7
$200.00 McDonald Elementary/CAC 1 8
$200.00 Envt. Law Assn. of G.W. School of Law/CAC 1 9
$200.00 St. Law U. Econ for Enviros '02/CAC 1 10
$200.00 Fairview Elementary/CAC 1 11
$200.00 Elton H. Riemer, CPA 1 12
$200.00 Maharishi U. of Mgt./CAC 1 13
$200.00 SMU Environmental Law Society/CAC 1 14
$200.00 Georgia State University Environmental Law Society 1 15
$200.00 Midwest Env. Law Caucus, Valparaiso Univ. School of Law 4 19
$186.00 David Anderson - Environmental Economics 1 20
$185.50 Bates College Environmental Economics 1 21
$184.00 Acid Rain Retirement Fund 7 28
$176.00 EPTRADE 1 29
$171.80 American Electric Power* 125,010 125,039

Bids below this line were unsuccessful because they were below the clearing price of $171.80.
 
$170.00 Maryland Environmental Law Society 10 125,049
$170.00 AEM 250 Cornell University 1 125,050
$166.00 AEM 451/ECON 409 Cornell University 1 125,051
$165.00 CU03 GLP165 1 125,052
$160.03 Reliant Energy-Orion Power MidWest 1,000 126,052
$160.00 Beloit College SO2 Reduction Program 1 126,053
$160.00 CU03 GLP160 1 126,054
$159.53 Reliant Energy-Orion Power MidWest 1,100 127,154
$159.25 Morgan Stanley Capital Group Inc. 10,000 137,154
$159.03 Reliant Energy-Orion Power MidWest 1,200 138,354
$159.00 WPS Power Development, Inc. 2,500 140,854
$158.53 Reliant Energy-Orion Power MidWest 1,400 142,254
$158.25 Morgan Stanley Capital Group Inc. 15,000 157,254
$158.03 Reliant Energy-Orion Power MidWest 1,500 158,754
$157.53 Reliant Energy-Orion Power MidWest 1,600 160,354
$157.50 WPS Power Development, Inc. 2,500 162,854
$157.25 Morgan Stanley Capital Group Inc. 30,000 192,854
$157.03 Reliant Energy-Orion Power MidWest 1,800 194,654
$157.00 CU03 GLP157 1 194,655
$156.53 Reliant Energy-Orion Power MidWest 2,000 196,655
$156.50 WPS Power Development, Inc. 2,500 199,155
$156.25 Morgan Stanley Capital Group Inc. 25,000 224,155
$156.03 Reliant Energy-Orion Power MidWest 2,100 226,255
$156.00 The Dayton Power and Light Company 1,000 227,255
$155.53 Reliant Energy-Orion Power MidWest 2,300 229,555
$155.25 Morgan Stanley Capital Group Inc. 25,000 254,555
$154.25 Morgan Stanley Capital Group Inc. 5,000 259,555
$154.00 The Dayton Power and Light Company 2,000 261,555
$153.50 WPS Power Development, Inc. 2,500 264,055
$152.00 The Dayton Power and Light Company 2,000 266,055
$151.10 Banc One Capital Markets 10,000 276,055
$151.00 PSEG Energy Resources and Trade 2,500 278,555
$150.00 PSEG Energy Resources and Trade 2,500 281,055
$150.00 The Dayton Power and Light Company 2,500 283,555
$150.00 Coral Energy Holding, L.P. 5,000 288,555
$149.00 PSEG Energy Resources and Trade 2,500 291,055
$148.00 PSEG Energy Resources and Trade 2,500 293,555
$147.10 Banc One Capital Markets 10,000 303,555
$147.00 PSEG Energy Resources and Trade 2,500 306,055
$146.00 Cleaner and Greener Program 10 306,065
$146.00 PSEG Energy Resources and Trade 2,500 308,565
$145.25 ABN AMRO Incorporated 25,000 333,565
$145.05 Public Service Company of New Hampshire 10,000 343,565
$145.00 PSEG Energy Resources and Trade 5,000 348,565
$144.00 PSEG Energy Resources and Trade 5,000 353,565
$143.05 Public Service Company of New Hampshire 10,000 363,565
$143.00 PSEG Energy Resources and Trade 10,000 373,565
$142.00 PSEG Energy Resources and Trade 10,000 383,565
$141.10 Banc One Capital Markets 10,000 393,565
$141.00 PSEG Energy Resources and Trade 10,000 403,565
$140.00 PSEG Energy Resources and Trade 10,000 413,565
$140.00 Coral Energy Holding, L.P. 10,000 423,565
$137.00 PSEG Energy Resources and Trade 20,000 443,565
$136.00 South Carolina Fuel Company 20,000 463,565
$136.00 PSEG Energy Resources and Trade 20,000 483,565
$135.00 PSEG Energy Resources and Trade 20,000 503,565
$131.10 Banc One Capital Markets 10,000 513,565
$130.05 Public Service Company of New Hampshire 10,000 523,565
$130.00 Coral Energy Holding, L.P. 5,000 528,565
$125.05 Public Service Company of New Hampshire 10,000 538,565
$60.00 Coral Energy Holding, L.P. 10,000 548,565
$2.06 Coral Energy Holding, L.P. 70,000 618,565

*Awarded a partial fill of 124,971 out of 125,010 for allowances bid for.

7-Year Advance Bids (First Usable in 2010)

Bids Bidder's Name Quantity Total
$92.00 American Electric Power 25,000 25,000
$90.00 American Electric Power 25,000 50,000
$87.00 American Electric Power 25,000 75,000
$83.00 American Electric Power 25,000 100,000
$80.02 Virginia Electric & Power Co. 10,000 110,000
$80.00 American Electric Power* 25,000 135,000

Bids below this line were unsuccessful because they were below the clearing price of $80.00.
 
$79.13 The Detroit Edison Company 500 135,500
$77.13 The Detroit Edison Company 500 136,000
$75.13 The Detroit Edison Company 500 136,500
$73.13 The Detroit Edison Company 500 137,000
$72.52 Virginia Electric & Power Co. 10,000 147,000
$71.10 Banc One Capital Markets 10,000 157,000
$68.13 The Detroit Edison Company 1,000 158,000
$65.96 NATSOURCE 271 1,250 159,250
$63.13 The Detroit Edison Company 1,000 160,250
$61.44 Virginia Electric & Power Co. 10,000 170,250
$61.10 Banc One Capital Markets 10,000 180,250
$59.00 PSEG Energy Resources and Trade 2,500 182,750
$58.13 The Detroit Edison Company 1,000 183,750
$57.00 PSEG Energy Resources and Trade 2,500 186,250
$55.96 NATSOURCE 271 1,250 187,500
$55.00 PSEG Energy Resources and Trade 2,500 190,000
$54.02 Virginia Electric & Power Co. 10,000 200,000
$53.13 The Detroit Edison Company 1,000 201,000
$53.00 PSEG Energy Resources and Trade 2,500 203,500
$51.00 PSEG Energy Resources and Trade 2,500 206,000
$50.00 PSEG Energy Resources and Trade 2,500 208,500
$48.13 The Detroit Edison Company 5,000 213,500
$48.00 PSEG Energy Resources and Trade 5,000 218,500
$47.00 PSEG Energy Resources and Trade 5,000 223,500
$46.00 PSEG Energy Resources and Trade 10,000 233,500
$45.00 PSEG Energy Resources and Trade 10,000 243,500
$44.00 PSEG Energy Resources and Trade 10,000 253,500
$43.13 The Detroit Edison Company 5,000 258,500
$43.00 PSEG Energy Resources and Trade 10,000 268,500
$42.00 PSEG Energy Resources and Trade 20,000 288,500
$41.00 PSEG Energy Resources and Trade 20,000 308,500
$40.00 PSEG Energy Resources and Trade 20,000 328,500
$30.00 Morgan Stanley Capital Group, Inc. 90,000 418,500
$10.00 NATSOURCE 271 20,000 438,500

*Awarded a partial fill of 15,00 out of 25,000 allowances bid for.

2003 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)
Offers Quantity Cumulative Total
205 10 10

Auction Offers (7-Year Advance)
Offers Quantity Cumulative Total
0 0 0

An Excel spreadsheet (Excel, 30K) provides the same results. Download an Excel viewer exit EPA

« Return to the directory of annual auctions listed by year

Top of Page

Jump to main content.