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Clean Air Markets

2008 SO2 Allowance Auction

2008 EPA Allowance Auction Results

Allowances Available for Auction
Origin of AllowancesSpot Auction
(First Usable in 2008)
7-Year Advance Auction
(First Usable in 2015 )
Privately Offered00

Spot Auction Results
AllowancesNumber of BidsNumber of BiddersBid Price
Bid For: 599,370Successful: 52 Successful: 17Highest: $651.00
Sold: 125,000Unsuccessful: 44 Unsuccessful: 2Clearing: $380.01
(the clearing price is the lowest price at which a successful bid was made)
 Total: 96Total: 19 Lowest: $.27
   Weighted Average of Winning Bids: $389.91

7-Year Advance Auction Results
AllowancesNumber of BidsNumber of BiddersBid Price
Bid For: 1,143,816Successful: 16 Successful: 10Highest: $400.00
Sold: 125,000Unsuccessful: 46 Unsuccessful: 10Clearing: $131.50
(the clearing price is the lowest price at which a successful bid was made)
 Total: 62Total: 20 Lowest: $.27
   Weighted Average of Winning Bids: $136.14

Spot Auction Winners
Bidder's NameQuantityPercentage of
Total Allowances
Amount Paid
KS & T, LP45,000 36.000$17,245,000.00
Constellation Energy Commodities Group, Inc.27,500 22.000$10,701,375.00
LUME18,723 14.978$7,487,813.31
Merrill Lynch Commodities Inc.10,000 8.000$3,975,700.00
The Detroit Edison Company6,500 5.200$2,582,645.00
Cantor Fitzgerald Brokerage6,000 4.800$2,355,360.00
Bear Energy LP3,995 3.196$1,565,704.95
Louis Dreyfus Energy Services L.P.2,500 2.000$955,025.00
Fortis Energy Marketing & Trading2,000 1.600$790,000.00
TransAlta Energy Marketing (U.S.)2,000 1.600$775,040.00
DigiLog Global Environmental750 0.600$288,750.00
Acid Rain Retirement Fund10 0.008$4,780.00
CAC Charitable Trust10 0.008$4,300.00
Green Country Energy, LLC8 0.006$5,208.00
Ithaca College - Campaign For Ithaca`s Air2 0.002$1,046.00
Bates College Environmental Economics1 0.001$463.00
AEM 250 Cornell University 20081 0.001$455.00

7-Year Advance Auction Winners
Bidder's NameQuantityPercentage of
Total Allowances
Amount Paid
Dominion Energy Marketing, Inc.75,572 60.458$10,286,694.50
Virginia Electric and Power Co.49,412 39.530$6,725,803.00
Green Country Energy, LLC8 0.006$2,808.00
Rutgers Prep School Environmental Club2 0.002$490.00
Clarkson University - ECO1 0.001$400.00
Reed College1 0.001$389.00
Cochran Grandchildren Environmentalists1 0.001$200.00
Bates College Environmental Economics1 0.001$155.00
Cornell University - AEM 451/Econ 4091 0.001$143.69
University of Wisconsin Environmental Economics 3431 0.001$140.80

Total Auction Proceeds: $65,755,889.25

Spot Bids (First Usable in 2008)

Bids Bidder's Name Quantity Total
$651.00Green Country Energy, LLC88
$523.00Ithaca College - Campaign For Ithaca`s Air210
$478.00Acid Rain Retirement Fund1020
$463.00Bates College Environmental Economics121
$455.00AEM 250 Cornell University 2008122
$430.00CAC Charitable Trust1032
$415.07Merrill Lynch Commodities Inc.2,5002,532
$409.33The Detroit Edison Company5003,032
$406.33The Detroit Edison Company5004,843
$405.06Cantor Fitzgerald Brokerage1,0008,090
$405.03Bear Energy LP1,0009,090
$403.33The Detroit Edison Company5009,590
$400.33The Detroit Edison Company1,00020,700
$400.07Merrill Lynch Commodities Inc.2,50023,200
$400.06Cantor Fitzgerald Brokerage1,00024,200
$400.05Constellation Energy Commodities Group, Inc.2,50026,700
$400.00Fortis Energy Marketing & Trading1,00027,700
$397.55Constellation Energy Commodities Group, Inc.2,50030,200
$397.33The Detroit Edison Company1,00031,200
$395.06Cantor Fitzgerald Brokerage1,00034,447
$395.05Constellation Energy Commodities Group, Inc.2,50036,947
$395.04Bear Energy LP1,50038,447
$395.02TransAlta Energy Marketing (U.S.)50038,947
$394.33The Detroit Edison Company1,50040,447
$392.55Constellation Energy Commodities Group, Inc.2,50042,947
$391.00KS & T, LP10,00052,947
$390.07Merrill Lynch Commodities Inc.2,50055,447
$390.06Cantor Fitzgerald Brokerage1,00056,447
$390.05Constellation Energy Commodities Group, Inc.5,00061,447
$390.02TransAlta Energy Marketing (U.S.)50061,947
$390.01Louis Dreyfus Energy Services L.P.50062,447
$390.00Fortis Energy Marketing & Trading1,00063,447
$389.33The Detroit Edison Company1,50064,947
$387.55Constellation Energy Commodities Group, Inc.2,50070,255
$385.07Merrill Lynch Commodities Inc.2,50072,755
$385.06Cantor Fitzgerald Brokerage1,00073,755
$385.05Constellation Energy Commodities Group, Inc.2,50076,255
$385.02TransAlta Energy Marketing (U.S.)50076,755
$385.00DigiLog Global Environmental75077,505
$382.55Constellation Energy Commodities Group, Inc.2,50080,005
$381.00KS & T, LP35,000115,005
$380.06Cantor Fitzgerald Brokerage1,000116,005
$380.05Constellation Energy Commodities Group, Inc.5,000121,005
$380.02TransAlta Energy Marketing (U.S.)500121,505
$380.01Louis Dreyfus Energy Services L.P.2,000123,505
$380.01Bear Energy LP*5,000128,505

Bids below this line were unsuccessful because they were below the clearing price of $380.01. 

$380.00Fortis Energy Marketing & Trading1,000129,505
$376.00KS & T, LP10,000139,505
$375.03Bear Energy LP7,500147,005
$375.02TransAlta Energy Marketing (U.S.)750149,120
$372.55Constellation Energy Commodities Group, Inc.1,000150,120
$370.02TransAlta Energy Marketing (U.S.)750150,870
$370.01Louis Dreyfus Energy Services L.P.4,000154,870
$370.00Fortis Energy Marketing & Trading1,000155,870
$367.55Constellation Energy Commodities Group, Inc.1,000156,870
$366.00KS & T, LP10,000166,870
$365.02TransAlta Energy Marketing (U.S.)750167,620
$362.55Constellation Energy Commodities Group, Inc.1,000168,620
$360.02TransAlta Energy Marketing (U.S.)750169,370
$360.01Louis Dreyfus Energy Services L.P.9,000178,370
$360.00Fortis Energy Marketing & Trading1,000179,370
$357.55Constellation Energy Commodities Group, Inc.1,000180,370
$355.02Bear Energy LP20,000200,370
$355.02TransAlta Energy Marketing (U.S.)750201,120
$352.55Constellation Energy Commodities Group, Inc.1,000202,120
$350.05Constellation Energy Commodities Group, Inc.5,000207,120
$350.02TransAlta Energy Marketing (U.S.)750207,870
$350.01Louis Dreyfus Energy Services L.P.16,000223,870
$350.00Fortis Energy Marketing & Trading1,000224,870
$345.02TransAlta Energy Marketing (U.S.)750225,620
$340.02TransAlta Energy Marketing (U.S.)750226,370
$340.00Fortis Energy Marketing & Trading1,000227,370
$330.02TransAlta Energy Marketing (U.S.)1,000228,370
$330.01Bear Energy LP25,000253,370
$330.00Fortis Energy Marketing & Trading1,000254,370
$320.02TransAlta Energy Marketing (U.S.)1,000255,370
$320.00Fortis Energy Marketing & Trading1,000256,370
$310.01Bear Energy LP30,000287,370
$310.00Fortis Energy Marketing & Trading1,000288,370
$300.00Fortis Energy Marketing & Trading1,000289,370
$200.02Bear Energy LP35,000325,370
$100.01Louis Dreyfus Energy Services L.P.5,000332,370
$3.10Shell Energy North America (US), L.P. 125,000499,370

*Awarded a partial fill of 1,495 out of 5,000 allowances bid for.

7-Year Advance Bids (First Usable in 2015)

Bids Bidder's Name Quantity Total
$400.00Clarkson University - ECO11
$389.00Reed College12
$351.00Green Country Energy, LLC810
$245.00Rutgers Prep School Environmental Club212
$200.00Cochran Grandchildren Environmentalists113
$155.00Bates College Environmental Economics114
$143.69Cornell University - AEM 451/Econ 409115
$140.80University of Wisconsin Environmental Economics 343116
$140.00Dominion Energy Marketing, Inc.19,12219,138
$140.00Virginia Electric and Power Co.12,50031,638
$137.50Dominion Energy Marketing, Inc.19,12250,760
$137.50Virginia Electric and Power Co.12,50063,260
$135.25Dominion Energy Marketing, Inc.19,12282,382
$135.25Virginia Electric and Power Co.12,50094,882
$131.50Virginia Electric and Power Co.11,912106,794
$131.50Dominion Energy Marketing, Inc.*18,222125,016

Bids below this line were unsuccessful because they were below the clearing price of $131.50. 

$129.50Credit Suisse Energy LLC2,500127,516
$126.50Credit Suisse Energy LLC5,000132,516
$121.50Credit Suisse Energy LLC5,000146,916
$120.01Louis Dreyfus Energy Services L.P.5,000151,916
$120.00Credit Suisse Energy LLC5,000156,916
$117.17Olduvai Gorge10,000171,616
$115.06Cantor Fitzgerald Brokerage2,500178,816
$115.00Credit Suisse Energy LLC10,000188,816
$111.17Olduvai Gorge10,000203,516
$110.06Cantor Fitzgerald Brokerage2,500206,016
$110.00Credit Suisse Energy LLC25,000231,016
$107.01Louis Dreyfus Energy Services L.P.10,000245,716
$105.17Olduvai Gorge10,000260,416
$105.06Cantor Fitzgerald Brokerage2,500262,916
$105.00Credit Suisse Energy LLC25,000287,916
$100.06Cantor Fitzgerald Brokerage2,500295,116
$100.01Louis Dreyfus Energy Services L.P.20,000315,116
$100.00Credit Suisse Energy LLC25,000340,116
$99.17Olduvai Gorge19,000359,116
$93.17Olduvai Gorge19,000382,816
$90.01Louis Dreyfus Energy Services L.P.40,000422,816
$90.00Credit Suisse Energy LLC22,500445,316
$87.17Olduvai Gorge19,000464,316
$85.01Bear Energy LP10,000474,316
$81.17Olduvai Gorge16,000490,316
$75.02Bear Energy LP10,000500,316
$75.00KS & T, LP50,000550,316
$55.01Bear Energy LP20,000570,316
$45.03Bear Energy LP25,000595,316
$30.00Morgan Stanley50,000645,316
$20.00Morgan Stanley50,000695,316
$10.00Morgan Stanley25,000720,316
$6.01Louis Dreyfus Energy Services L.P.50,000770,316
$5.01Bear Energy LP60,000830,316
$3.10Shell Energy North America (US), L.P.125,000955,316
$1.01Louis Dreyfus Energy Services L.P.88,5001,043,816

*Awarded a partial fill of 18,206 out of 18,222 allowances bid for.

An Excel spreadsheet (Excel, 54 K) provides the same results. Download an Excel viewer exit EPA

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