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Clean Air Markets

2006 SO2 Allowance Auction

2006 EPA Allowance Auction Results

Allowances Available for Auction
Origin of Allowances Spot Auction
(First Usable in 2006)
7-Year Advance Auction
(First Usable in 2013)
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: 367,434 Successful: 36 Successful: 14 Highest: $1700.00
Sold: 125,000 Unsuccessful: 42 Unsuccessful: 8 Clearing: $860.07
(the clearing price is the lowest price at which a successful bid was made)
  Total: 78 Total: 22 Lowest: $650.00
      Weighted Average of Winning Bids: $883.10

7-Year Advance Auction Results
Allowances Number of Bids Number of Bidders Bid Price
Bid For: 272,436 Successful: 41 Successful: 16 Highest: $635.00
Sold: 125,000 Unsuccessful: 17 Unsuccessful: 4 Clearing: $241.67
(the clearing price is the lowest price at which a successful bid was made)
  Total: 58 Total: 20 Lowest: $51.00
      Weighted Average of Winning Bids: $275.13

Spot Auction Winners
Bidder's Name Quantity Percentage of
Total Allowances
Amount Paid
Morgan Stanley Capital Group 70,000 56.000 $62,071,600.00
Edison Mission Marketing & Trading, Inc. 15,000 12.000 $13,462,500.00
JP Morgan 10,000 8.000 $8,750,000.00
Alpha 10,000 8.000 $8,725,000.00
Evolution Markets LLC 10,000 8.000 $8,656,200.00
Constellation Energy Commodities Group, Inc. 4,888 3.910 $4,242,622.16
Grey K Environmental 3,000 2.400 $2,583,690.00
South Carolina Public Service Authority 1,000 0.800 $875,000.00
ARPA 600 0.480 $570,900.00
SUEZ Energy Marketing NA, Inc. 500 0.400 $437,500.00
Acid Rain Retirement Fund 6 0.005 $5,940.00
Forest Investment Group, LLC 3 0.002 $2,700.00
Clean Air Conservancy Charitable Trust 2 0.002 $3,400.00
Maryland Environmental Law Society 1 0.001 $950.00
TOTALS 125,000 100% $110,388,002.16

7-Year Advance Auction Winners
Bidder's Name Quantity Percentage of
Total Allowances
Amount Paid
Morgan Stanley Capital Group 39,114 31.291 $10,042,080.38
Saracen Energy LP 30,000 24.000 $8,100,000.00
JP Morgan 30,000 24.000 $8,400,000.00
The Detroit Edison Company 12,500 10.000 $3,929,875.00
Grey K Environmental 10,000 8.000 $2,630,000.00
Missouri River Energy Services 1,880 1.504 $808,650.00
Philomelus Ventures 1,090 0.872 $346,119.70
ARPA 400 0.320 $129,000.00
Green Country Energy, LLC 8 0.006 $2,800.00
Bates College Environmental Economics 2 0.002 $768.00
Fuchs, Wand, and Kenyon College Economics 1 0.001 $450.00
University of Iowa Environmental Law Society 1 0.001 $425.00
Clarkson University - ECO 1 0.001 $400.00
University Wisconsin Parkside mission e 1 0.001 $340.00
Creighton University Environmental Law Society 1 0.001 $310.00
California Western School of Law Environmental Law Society 1 0.001 $247.10
TOTALS 125,000 100% $34,391,465.18

Total Auction Proceeds: $144,779,467.34

Spot Bids (First Usable in 2006)

Bids Bidder's Name Quantity Total
$1,700.00 Clean Air Conservancy Charitable Trust 2 2
$1,026.00 ARPA 100 102
$1,015.00 ARPA 100 202
$990.00 ARPA 100 302
$990.00 Acid Rain Retirement Fund 6 308
$950.00 Maryland Environmental Law Society 1 309
$920.00 Forest Investment Group, LLC 1 310
$910.00 Edison Mission Marketing & Trading, Inc. 2,500 2,810
$905.13 Morgan Stanley Capital Group 10,000 12,810
$905.00 Edison Mission Marketing & Trading, Inc. 2,500 15,310
$901.12 Morgan Stanley Capital Group 10,000 25,310
$900.00 ARPA 100 25,410
$900.00 Forest Investment Group, LLC 1 25,411
$900.00 Edison Mission Marketing & Trading, Inc. 2,500 27,911
$896.17 Morgan Stanley Capital Group 10,000 37,911
$895.00 Edison Mission Marketing & Trading, Inc. 2,500 40,411
$891.08 Morgan Stanley Capital Group 10,000 50,411
$890.00 Edison Mission Marketing & Trading, Inc. 2,500 52,911
$889.00 ARPA 200 53,111
$885.00 Edison Mission Marketing & Trading, Inc. 2,500 55,611
$881.32 Morgan Stanley Capital Group 10,000 65,611
$880.00 Forest Investment Group, LLC 1 65,612
$880.00 Alpha 2,500 68,112
$875.13 Constellation Energy Commodities Group, Inc. 2,000 70,112
$875.00 South Carolina Public Service Authority 1,000 71,112
$875.00 JP Morgan 10,000 81,112
$875.00 SUEZ Energy Marketing NA, Inc. 500 81,612
$875.00 Alpha 2,500 84,112
$870.62 Evolution Markets LLC 5,000 89,112
$870.00 Alpha 2,500 91,612
$868.55 Constellation Energy Commodities Group, Inc. 1,000 92,612
$866.17 Morgan Stanley Capital Group 20,000 112,612
$865.00 Alpha 2,500 115,112
$861.23 Grey K Environmental 3,000 118,112
$860.62 Evolution Markets LLC 5,000 123,112
$860.07 Constellation Energy Commodities Group, Inc.* 3,500 126,612

Bids below this line were unsuccessful because they were below the clearing price of $860.07.
 
$860.00 Forest Investment Group, LLC 1 126,613
$860.00 Alpha 5,000 131,613
$855.00 Alpha 5,000 136,613
$851.13 Morgan Stanley Capital Group 25,000 161,613
$851.10 RMP 100 161,713
$850.62 Evolution Markets LLC 5,000 166,713
$850.01 CF Environmental 250 166,963
$850.00 South Carolina Public Service Authority 2,000 168,963
$850.00 Green Country Energy, LLC 7 168,970
$850.00 Saracen Energy LP 2,000 170,970
$850.00 JP Morgan 10,000 180,970
$850.00 SUEZ Energy Marketing NA, Inc. 500 181,470
$845.09 Constellation Energy Commodities Group, Inc. 1,000 182,470
$841.16 Morgan Stanley Capital Group 30,000 212,470
$840.62 Evolution Markets LLC 5,000 217,470
$840.00 Forest Investment Group, LLC 1 217,471
$840.00 Centaurus Energy 11,000 228,471
$831.99 Constellation Energy Commodities Group, Inc. 1,000 229,471
$826.00 Mirant 10,000 239,471
$825.00 South Carolina Public Service Authority 2,000 241,471
$825.00 Saracen Energy LP 4,000 245,471
$825.00 JP Morgan 10,000 255,471
$820.00 Forest Investment Group, LLC 1 255,472
$801.10 RMP 200 255,672
$800.51 Constellation Energy Commodities Group, Inc. 6,500 262,172
$800.00 Forest Investment Group, LLC 1 262,173
$800.00 South Carolina Public Service Authority 3,000 265,173
$800.00 JP Morgan 10,000 275,173
$800.00 Granite Ridge Energy LLC 10 275,183
$800.00 TXU Portfolio Management Co. 1,000 276,183
$780.00 Forest Investment Group, LLC 1 276,184
$776.00 Mirant 20,250 296,434
$775.00 South Carolina Public Service Authority 3,000 299,434
$775.00 Saracen Energy LP 6,000 305,434
$775.00 JP Morgan 10,000 315,434
$750.01 CF Environmental 1,000 316,434
$750.00 South Carolina Public Service Authority 1,000 317,434
$750.00 JP Morgan 10,000 327,434
$725.00 JP Morgan 10,000 337,434
$700.00 JP Morgan 10,000 347,434
$675.00 JP Morgan 10,000 357,434
$650.00 JP Morgan 10,000 367,434

*Awarded a partial fill of 1,888 out of 3,500 allowances bid for.

7-Year Advance Bids (First Usable in 2013)

Bids Bidder's Name Quantity Total
$635.00 Missouri River Energy Services 475 475
$525.00 Missouri River Energy Services 325 800
$455.00 Missouri River Energy Services 80 880
$450.00 Fuchs, Wand, and Kenyon College Economics 1 881
$425.00 University of Iowa Environmental Law Society 1 882
$401.00 Bates College Environmental Economics 1 883
$400.00 Clarkson University - ECO 1 884
$367.00 Bates College Environmental Economics 1 885
$364.58 Philomelus Ventures 85 970
$360.00 ARPA 200 1,170
$350.08 Philomelus Ventures 85 1,255
$350.00 Green Country Energy, LLC 8 1,263
$340.00 University Wisconsin Parkside mission e 1 1,264
$337.58 Philomelus Ventures 120 1,384
$337.15 The Detroit Edison Company 1,000 2,384
$332.15 The Detroit Edison Company 1,000 3,384
$327.15 The Detroit Edison Company 2,000 5,384
$325.08 Philomelus Ventures 250 5,634
$322.15 The Detroit Edison Company 2,500 8,134
$312.58 Philomelus Ventures 260 8,394
$310.15 The Detroit Edison Company 2,000 10,394
$310.00 Creighton University Environmental Law Society 1 10,395
$300.15 The Detroit Edison Company 2,000 12,395
$300.08 Philomelus Ventures 135 12,530
$300.00 Missouri River Energy Services 1,000 13,530
$300.00 JP Morgan 10,000 23,530
$290.15 The Detroit Edison Company 2,000 25,530
$290.00 Saracen Energy LP 10,000 35,530
$285.00 ARPA 200 35,730
$280.08 Philomelus Ventures 75 35,805
$280.00 JP Morgan 10,000 45,805
$273.00 Grey K Environmental 5,000 50,805
$271.37 Morgan Stanley Capital Group 10,000 60,805
$261.27 Morgan Stanley Capital Group 10,000 70,805
$260.08 Philomelus Ventures 80 70,885
$260.00 Saracen Energy LP 20,000 90,885
$260.00 JP Morgan 10,000 100,885
$253.00 Grey K Environmental 5,000 105,885
$251.31 Morgan Stanley Capital Group 10,000 115,885
$247.10 California Western School of Law Environmental Law Society 1 115,886
$241.67 Morgan Stanley Capital Group* 10,000 125,886

Bids below this line were unsuccessful because they were below the clearing price of $241.67.
 
$240.08 Philomelus Ventures 210 126,096
$240.00 JP Morgan 10,000 136,096
$235.07 CGC Investments 1,000 137,096
$233.00 Grey K Environmental 5,000 142,096
$231.14 Morgan Stanley Capital Group 30,000 172,096
$226.00 Andromeda Global Credit Fund 1,000 173,096
$220.00 Saracen Energy LP 20,000 193,096
$220.00 JP Morgan 10,000 203,096
$213.00 Grey K Environmental 5,000 208,096
$201.67 Morgan Stanley Capital Group 55,000 263,096
$186.27 JHMII 1,000 264,096
$180.08 Philomelus Ventures 140 264,236
$175.00 CF Environmental 1,000 265,236
$125.08 Philomelus Ventures 200 265,436
$101.63 JHMII 1,000 266,436
$101.61 CGC Investments 1,000 267,436
$51.00 CF Environmental 5,000 272,436

*Awarded a partial fill of 9,114 out of 10,000 allowances bid for.

An Excel spreadsheet (Excel, 49 K) provides the same results. Download an Excel viewer exit EPA

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