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Clean Air Markets

2004 SO2 Allowance Auction

2004 EPA Allowance Auction Results

Allowances Available for Auction 
Origin of Allowances Spot Auction
(First Usable in 2004)
7-Year Advance Auction
(First Usable in 2011)
EPA 125,000 125,000
Privately Offered 11  
Total 125,011 125,000

Spot Auction Results
Allowances Number of Bids Number of Bidders Bid Price
Bid For: 288,537 Successful: 25 Successful: 14 Highest: $300.00
Sold: 125,011 Unsuccessful: 39 Unsuccessful: 7 Clearing: $260.00
(the clearing price is the lowest price at which a successful bid was made)
  Total: 64 Total: 21 Lowest: $107.00
      Average: $272.82

7-Year Advance Auction Results
Allowances Number of Bids Number of Bidders Bid Price
Bid For: 275,053 Successful: 2 Successful: 2 Highest: $129.11
Sold: 125,000 Unsuccessful: 6 Unsuccessful: 3 Clearing: $128.00
(the clearing price is the lowest price at which a successful bid was made)
  Total: 8 Total: 5 Lowest: $81.15
      Average: $128.00

Spot Auction Winners
Bidder's Name Quantity Percentage of
Total Allowances
Amount Paid
American Electric Power 75,000 59.99 $20,813,800.00
Morgan Stanley Commodities Group, Inc. 25,000 20.00 $6,569,250.00
Edison Mission Energy 10,481 8.38 $2,885,060.00
PSEG Energy Resources and Trade LLC 7,500 6.00 $1,965,625.00
Cantor Fitzgerald Brokerage L.P. 5,000 4.00 $1,337,500.00
Indianapolis Power & Light Company 1,500 1.20 $390,465.00
Cedar Falls Utilities 500 0.40 $134,705.00
Bates College Environmental Economics 9 < 0.01 $2,628.00
Acid Rain Retirement Fund 7 < 0.01 $2,100.00
Maryland Environmental Law Society 5 < 0.01 $1,500.00
Cleaner and Greener Program 5 < 0.01 $1,400.00
Beloit College SO2 Reduction Program 2 < 0.01 $600.00
AEM 250 Cornell Univ 2004 1 < 0.01 $300.00
AEM 451 ECON 409 Cornell Univ 2004 1 < 0.01 $295.00
TOTALS 125,011 100% $34,105,228.00

7-Year Advance Auction Winners
Bidder's Name Quantity Percentage of
Total Allowances
Amount Paid
American Electric Power     124,950 99.96 $15,993,600.00
James Ayres 50 0.04 $6,455.50
TOTALS 125,000 100% $16,000,055.50
 
  Total Auction Proceeds $50,105,283.50

Spot Bids (First Usable in 2004)

Bids Bidder's Name Quantity Total
$300.00 Maryland Environmental Law Society 5 5
$300.00 Acid Rain Retirement Fund 7 12
$300.00 Beloit College SO2 Reduction Program 2 14
$300.00 AEM 250 Cornell Univ 2004 1 15
$295.00 AEM 451 ECON 409 Cornell Univ 2004 1 16
$292.00 Bates College Environmental Economics 9 25
$280.04 American Electric Power 32,500 32,525
$280.00 Cleaner and Greener Program 5 32,530
$277.00 American Electric Power 27,500 60,030
$276.00 Edison Mission Energy 10,000 70,030
$275.01 Cedar Falls Utilities 100 70,130
$273.01 Cedar Falls Utilities 100 70,230
$273.00 American Electric Power 15,000 85,230
$270.01 Cedar Falls Utilities 100 85,330
$270.00 Cantor Fitzgerald Brokerage, L.P. 2,500 87,830
$267.01 Cedar Falls Utilities 100 87,930
$265.00 Cantor Fitzgerald Brokerage L.P. 2,500 90,430
$264.25 Morgan Stanley Commodities Group, Inc. 15,000 105,430
$264.00 PSEG Energy Resources and Trade LLC 2,500 107,930
$262.01 Cedar Falls Utilities 100 108,030
$262.00 PSEG Energy Resources and Trade LLC 2,500 110,530
$260.55 Morgan Stanley Commodities Group, Inc. 10,000 120,530
$260.31 Indianapolis Power & Light Company 1,500 122,030
$260.25 PSEG Energy Resources and Trade LLC 2,500 124,530
$260.00 Edison Mission Energy* 10,000 134,530

Bids below this line were unsuccessful because they were below the clearing price of $260.00.
 
$259.25 PSEG Energy Resources and Trade LLC 2,500 137,030
$259.20 Morgan Stanley Commodities Group, Inc. 10,000 147,030
$257.01 Cedar Falls Utilities 100 147,130
$256.00 AQUILA 500 147,630
$255.10 PSEG Energy Resources and Trade LLC 5,000 152,630
$255.00 WPS Power Development, Inc. 2,500 155,130
$254.60 PSEG Energy Resources and Trade LLC 5,000 160,130
$251.01 Cedar Falls Utilities 100 160,230
$250.00 Colorado Springs Utilities 100 160,330
$250.00 Man Financial, Inc. 10,000 170,330
$248.30 PSEG Energy Resources and Trade LLC 5,000 175,330
$247.00 AQUILA 500 175,830
$245.50 PSEG Energy Resources and Trade LLC 5,000 180,830
$244.00 PSEG Energy Resources and Trade LLC 10,000 190,830
$243.01 Cedar Falls Utilities 100 190,930
$243.00 PSEG Energy Resources and Trade LLC 10,000 200,930
$240.00 Colorado Springs Utilities 200 201,130
$240.00 Man Financial, Inc. 5,000 206,130
$240.00 WPS Power Development, Inc. 2,500 208,630
$238.01 Cedar Falls Utilities 100 208,730
$230.01 Cedar Falls Utilities 100 208,830
$230.00 Colorado Springs Utilities 200 209,030
$230.00 Man Financial, Inc. 10,000 219,030
$230.00 WPS Power Development, Inc. 5,000 224,030
$229.00 PSEG Energy Resources and Trade LLC 10,000 234,030
$227.00 AQUILA 500 234,530
$225.00 Andrew J. Yates 1 234,531
$224.00 PSEG Energy Resources and Trade LLC 10,000 244,531
$222.00 PSEG Energy Resources and Trade LLC 15,000 259,531
$221.00 PSEG Energy Resources and Trade LLC 15,000 274,531
$220.00 Man Financial, Inc. 5,000 279,531
$207.00 AQUILA 500 280,031
$201.00 AQUILA 1,000 281,031
$200.00 Midwest Environmental Law Caucus, Valparaiso University School of Law 5 281,036
$180.00 University of Houston Environmental Economics 1 281,037
$176.00 AQUILA 1,000 282,037
$151.00 AQUILA 1,000 283,037
$150.00 Colorado Springs Utilities 500 283,537
$107.00 AQUIA 5,000 288,537

*Awarded a partial fill of 481 out of 10,000 allowances bid for.

7-Year Advance Bids (First Usable in 2011)

Bids Bidder's Name Quantity Total
$129.11 James Ayers 50 50
$128.00 American Electric Power* 125,000 125,050

Bids below this line were unsuccessful because they were below the clearing price of $128.00.
 
$105.10 Morgan Stanley Commodities Group, Inc. 25,000 150,050
$101.10 Morgan Stanley Commodities Group, Inc. 10,000 160,050
$100.00 In Memory of Carly Crismore 1 160,051
$90.05 Morgan Stanley Commodities Group, Inc. 15,000 175,051
$85.01 Rufus and Amy 2 175,053
$81.15 PSEG Energy Resources and Trade LLC 100,000 275,053

*Awarded a partial fill of 124,950 out of 125,000 allowances bid for.

An Excel spreadsheet (Excel, 45K) provides the same results. Download an Excel viewer exit EPA

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