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Clean Air Markets

2005 SO2 Allowance Auction

2005 EPA Allowance Auction Results

Allowances Available for Auction
Origin of Allowances Spot Auction
(First Usable in 2005)
7-Year Advance Auction
(First Usable in 2012)
EPA 125,000 125,000
Privately Offered 0 0
Total 125,000 125,000

Spot Auction Results
Allowances Number of Bids Number of Bidders Bid Price
Bid For: 493,987 Successful: 25 Successful: 17 Highest: $750.00
Sold: 125,000 Unsuccessful: 90 Unsuccessful: 14 Clearing: $690.00
(the clearing price is the lowest price at which a successful bid was made)
  Total: 115 Total: 31 Lowest: $300.00
      Weighted Average of Winning Bids: $702.51

7-Year Advance Auction Results   
Allowances Number of Bids Number of Bidders Bid Price
Bid For: 327,324 Successful: 21 Successful: 6 Highest: $350.00
Sold: 125,000 Unsuccessful: 14 Unsuccessful: 5 Clearing: $260.00
(the clearing price is the lowest price at which a successful bid was made)
  Total: 35 Total: 11 Lowest: $130.00
      Weighted Average of Winning Bids: $297.49

Spot Auction Winners
Bidder's Name Quantity Percentage of
Total Allowances
Amount Paid
Ameren Energy Generating Co. 40,000 32.000 $28,334,800.00
Man Financial, Inc. 24,000 19.200 $16,704,240.00
Morgan Stanley 20,000 16.000 $14,200,000.00
Alpha 15,000 12.000 $10,387,500.00
Edison Mission Marketing & Trading, Inc. 13,089 10.471 $9,061,410.00
Ameren Energy Resources Generating Co. 5,000 4.000 $3,656,850.00
Aquila 5,000 4.000 $3,455,350.00
Duke Power 2500 2.000 $1,725,250.00
Cedar Falls Utilities 300 0.240 $209,103.00
ARPA 100 0.080 $71,000.00
Acid Rain Retirement Fund 5 0.004 $3,625.00
Hobart and William Smith Colleges 1 0.001 $703.00
AEM 250 Cornell Univ 2005 1 0.001 $710.00
AEM 451/ECON 409 Cornell U. 2005 1 0.001 $710.00
Bates and Colby Environmental Economics and ES 211 1 0.001 $724.00
Fordham Environmental Law Advocates 1 0.001 $750.00
Maryland Environmental Law Society 1 0.001 $750.00
TOTALS 125,000 100% $87,813,475.00

7-Year Advance Auction Winners
Bidder's Name Quantity Percentage of
Total Allowances
Amount Paid
American Electric Power 56,999 45.599 $17,369,740.00
CSFB Energy, LLC 30,000 24.000 $9,300,000.00
Aquila 20,000 16.000 $5,521,400.00
The Detroit Edison Company 17,000 13.600 $4,688,210.00
ARPA 1,000 0.800 $306,000.00
Creighton University Environmental Law Society 1 0.001 $350.00
TOTALS 125,000 100% $37,185,700.00

Total Auction Proceeds: $124,999,175.00

Spot Bids (First Usable in 2005)

Bids Bidder's Name Quantity Total
$750.00 Maryland Environmental Law Society 1 1
$750.00 Fordham Environmental Law Advocates 1 2
$731.37 Ameren Energy Resources Generating Co. 5,000 5,002
$726.37 Ameren Energy Generating Co. 10,000 15,002
$725.00 Acid Rain Retirement Fund 5 15,007
$724.00 Bates and Colby Environmental Economics and ES 211 1 15,008
$710.00 Morgan Stanley 20,000 35,008
$710.00 ARPA 100 35,108
$710.00 AEM 451/ECON 409 Cornell U. 2005 1 35,109
$710.00 AEM 250 Cornell University 2005 1 35,110
$707.37 Ameren Energy Generating Co. 10,000 45,110
$704.01 Cedar Falls Utilities 100 45,210
$703.37 Ameren Energy Generating Co. 10,000 55,210
$703.00 Hobart & William Smith Colleges 1 55,211
$701.01 Man Financial, Inc. 12,000 67,211
$697.01 Cedar Falls Utilities 100 67,311
$696.37 Ameren Energy Generating Co. 10,000 77,311
$694.00 Edison Mission Marketing & Trading, Inc. 5,000 82,311
$692.50 Alpha 15,000 97,311
$692.00 Edison Mission Marketing & Trading, Inc. 5,000 102,311
$691.07 Aquila 5,000 107,311
$691.01 Man Financial, Inc. 12,000 119,311
$690.10 Duke Power 2,500 121,811
$690.01 Cedar Falls Utilities 100 121,911
$690.00 Edison Mission Marketing & Trading, Inc.* 5,000 126,911


Bids below this line were unsuccessful because they were below the clearing price of $690.00.

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.

$690.00 Morgan Stanley 20,000 146,911
$686.37 Ameren Energy Generating Co. 10,000 156,911
$686.00 Dominion Energy Marketing, Inc. 1,500 158,411
$685.26 CEPO 10,000 168,411
$685.00 ARPA 100 168,511
$683.10 Duke Power 2,500 171,011
$683.01 Cedar Falls Utilities 100 171,111
$682.50 Alpha 5,000 176,111
$681.26 CEPO 10,000 186,111
$681.10 PPL Generation LLC 5,000 191,111
$681.01 Man Financial, Inc. 12,000 203,111
$680.00 Morgan Stanley 40,000 243,111
$680.00 Edison Mission Marketing & Trading, Inc 5,000 248,111
$680.00 BP Energy 2,500 250,611
$679.07 Man Financial, Inc. 1,500 258,111
$676.20 Duke Power 2,500 260,611
$675.00 American Electric Power 5,000 255,611
$675.00 Dominion Energy Marketing, Inc. 1,000 256,611
$672.51 CEPO 30,000 290,611
$672.50 Alpha 15,000 305,611
$671.30 Constellation Energy Commodities Group, Inc. 2,500 308,111
$671.10 PPL Generation LLC 2,500 310,611
$671.07 Aquila 5,000 315,611
$671.00 Dominion Energy Marketing, Inc. 1,000 316,611
$670.00 Edison Mission Marketing & Trading, Inc. 4,805 321,416
$669.30 Duke Power 2,500 323,916
$669.01 Cedar Falls Utilities 100 324,016
$665.00 ARPA 100 324,116
$664.45 Constellation Energy Commodities Group, Inc. 2,500 326,616
$661.10 PPL Generation LLC 2,500 329,116
$660.07 Man Financial, Inc. 2,500 331,616
$660.00 American Electric Power 5,000 336,616
$660.00 BP Energy 2,500 339,116
$657.60 Constellation Energy Commodoties Group, Inc. 5,000 344,116
$656.01 Cedar Falls Utilities 100 344,216
$655.53 Indianapolis Power & Light Company 1,500 345,716
$652.00 Dominion Energy Marketing, Inc. 5,000 350,716
$651.10 PPL Generating LLC 2,500 353,216
$650.00 Coaltrade, LLC 2,500 355,716
$650.00 The Dayton Power & Light Company 1,000 356,716
$648.60 Duke Power 1,000 357,716
$643.90 Constellation Energy Commodities Group, Inc. 5,000 362,716
$642.01 Cedar Falls Utilities 100 362,816
$641.10 PPL Generation LLC 2,500 365,316
$641.07 Aquila 2,500 367,816
$634.80 Duke Power 1,000 368,816
$631.06 Aquila 1,400 370,216
$630.20 Constellation Energy Commodities Group, Inc. 7,500 377,716
$630.00 American Electric Power 5,000 382,716
$630.00 SUEZ Energy Marketing NA, Inc 500 383,216
$626.00 Dominion Energy Marketing, Inc 3,000 386,216
$625.00 Coaltrade, LLC 2,500 388,716
$621.00 Cedar Falls Utilities 100 388,816
$621.00 Duke Power 1,000 389,816
$620.00 SUEZ Energy Marketing NA, Inc 500 390,316
$616.50 Constellation Energy Commodities Group, Inc 7,500 397,816
$616.00 Dominion Energy Marketing, Inc 3,000 400,816
$610.00 SUEZ Energy Marketing NA, Inc 500 401,316
$607.01 Cedar Falls Utilities 100 401,416
$607.00 Duke Power 1,000 402,416
$606.00 Dominion Energy Marketing, Inc 1,000 403,416
$600.00 Allegheny Energy Supply Company, LLC 15,000 418,416
$600.00 SUEZ Energy Marketing NA, Inc 500 418,916
$595.00 American Electric Power 5,000 423,916
$593.40 Duke Power 1,000 424,916
$590.00 SUEZ Energy Marketing NA, Inc 500 425,416
$587.01 Cedar Falls Utilities 100 425,516
$580.00 SUEZ Energy Marketing NA, Inc 500 426,016
$579.60 Duke Power 1,000 427,016
$570.03 Indianapolis Power & Light Company 1,500 428,516
$570.00 SUEZ Energy Marketing NA, Inc 500 429,016
$565.80 Duke Power 1,000 430,016
$560.00 American Electric Power 5,000 435,016
$560.00 SUEZ Energy Marketing NA, Inc 500 435,516
$552.00 Duke Power 1,000 436,516
$550.00 Mirant 45,454 481,970
$550.00 SUEZ Energy Marketing NA, Inc 500 482,470
$540.00 SUEZ Energy Marketing NA, Inc 500 482,970
$538.20 Duke Power 1,000 483,970
$530.00 SUEZ Energy Marketing NA, Inc 500 484,470
$524.40 Duke Power 1,000 485,470
$520.00 SUEZ Energy Marketing NA, Inc 500 485,970
$514.94 Aquila 1,306 487,276
$510.00 SUEZ Energy Marketing NA, Inc 500 487,776
$501.50 Innovative Business Engineering, LLC 1 487,777
$500.00 SUEZ Energy Marketing NA, Inc 500 488,277
$500.00 ARPA 200 488,477
$490.00 SUEZ Energy Marketing NA, Inc 500 488,977
$392.00 Man Financial, Inc. 5,000 493,977
$300.00 Granite Ridge Energy LLCc 10 493,987

*Awarded a partial fill of 3,089 out of 5,000 allowances bid for.

7-Year Advance Bids (First Usable in 2012)

Bids Bidder's Name Quantity Total
$350.00 Creighton University Environmental Law Society 1 1
$320.00 ARPA 400 401
$315.00 CSFB Energy LLC 10,000 10,401
$311.00 American Electric Power 50,000 60,401
$310.00 CSFB Energy LLC 10,000 70,401
$310.00 ARPA 200 70,601
$305.00 CSFB Energy LLC 10,000 80,601
$301.13 The Detroit Edison Company 500 81,101
$300.00 ARPA 200 81,301
$299.13 The Detroit Edison Company 500 81,801
$297.13 The Detroit Edison Company 500 82,301
$295.13 The Detroit Edison Company 500 82,801
$290.13 The Detroit Edison Company 1,000 83,801
$285.13 The Detroit Edison Company 1,000 84.801
$280.13 The Detroit Edison Company 2,000 86,801
$280.00 ARPA 200 87,001
$276.07 Aquila 20,000 107,001
$275.13 The Detroit Edison Company 2,000 109,001
$270.13 The Detroit Edison Company 4,000 113,001
$265.13 The Detroit Edison Company 5,000 118,001
$260.00 American Electric Power* 25,000 143,001

Bids below this line were unsuccessful because they were below the clearing price of $260.00.
 
$247.07 Aquila 10,000 153,001
$231.00 PPL Generation LLC 5,000 158,001
$226.07 Aquila 8,700 166,701
$221.00 PPL Generation LLC 5,000 171,701
$216.50 Innovative Business Engineering, LLC 1 171,702
$212.06 Clarkson University Environmental Conservation Org 1 171,703
$211.00 PPL Generation LLC 5,000 176,703
$200.00 Morgan Stanley 125,000 301,703
$200.00 ARPA 200 301,903
$185.00 American Electric Power 25,000 326,903
$180.88 Clarkson University Environmental Conservation Org 1 326,904
$153.50 Aaron Greenberg 20 326,924
$150.00 ARPA 200 327,124
$130.00 ARPA 200 327,324

*Awarded a partial fill of 6,999 out of 25,000 allowances bid for.

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

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