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Clean Air Markets

2009 SO2 Allowance Auction

2009 EPA Allowance Auction Results

Allowances Available for Auction
Origin of AllowancesSpot Auction
(First Usable in 2009)
7-Year Advance Auction
(First Usable in 2016 )
EPA125,000125,000
Privately Offered00
Total125,000125,000


Spot Auction Results
AllowancesNumber of BidsNumber of BiddersBid Price
Bid For: 892,343Successful: 18 Successful: 11Highest: $500.00
Sold: 125,000Unsuccessful: 59 Unsuccessful: 11Clearing: $62.00
(the clearing price is the lowest price at which a successful bid was made)
 Total: 77Total: 22 Lowest: $0.06
   Weighted Average of Winning Bids: $69.74

7-Year Advance Auction Results
AllowancesNumber of BidsNumber of BiddersBid Price
Bid For: 624,916Successful: 6 Successful: 6Highest: $200.00
Sold: 125,000Unsuccessful: 19 Unsuccessful: 9Clearing: $6.63
(the clearing price is the lowest price at which a successful bid was made)
 Total: 25Total: 15 Lowest: $1.03
   Weighted Average of Winning Bids: $6.65

Spot Auction Winners
Bidder's NameQuantityPercentage of
Total Allowances
Amount Paid
Ohio Valley Electric Corporation75,000 60.000$5,414,500.00
EMMT48,415 38.732$3,181,730.00
Macquarie Cook Power Inc.1,500 1.200$98,295.00
Denver City Energy Associates60 0.048$18,000.00
Acid Rain Retirement Fund10 0.008$770.00
Green Country Energy, LLC8 0.006$2,928.00
M. M. Latham & Family3 0.002$225.00
University of Tampa Environmental Protection Coalition1 0.001$500.00
Society of Environmental Engineers1 0.001$400.00
Bates College Environmental Econ A1 0.001$85.76
Bates College Environmental Econ B1 0.001$73.01
TOTALS125,000100%$8,717,506.77

7-Year Advance Auction Winners
Bidder's NameQuantityPercentage of
Total Allowances
Amount Paid
JP Morgan Ventures Energy Corporation124,984 99.987$828,643.92
Green Country Energy, LLC8 0.006$1,328.00
University of Tampa Environmental Protection Coalition3 0.002$600.00
Rutgers Prep School Environmental Club3 0.002$495.00
Bates College Environmental Econ A1 0.001$40.65
Bates College Environmental Econ B1 0.001$32.28
TOTALS125,000100%$831,139.85

Total Auction Proceeds: $9,548,646.62

Spot Bids (First Usable in 2009)

Bids Bidder's Name Quantity Total
$500.00University of Tampa Environmental Protection Coalition11
$400.00Society of Environmental Engineers12
$366.00Green Country Energy, LLC810
$300.00Denver City Energy Associates6070
$85.76Bates College Environmental Econ A171
$80.00Ohio Valley Electric Corporation5,0005,071
$77.00Acid Rain Retirement Fund105,081
$76.85Ohio Valley Electric Corporation15,00020,081
$75.00M. M. Latham & Family320,084
$73.85Ohio Valley Electric Corporation15,00035,084
$73.01Bates College Environmental Econ B135,085
$70.85Ohio Valley Electric Corporation20,00055,085
$68.00EMMT20,00075,085
$66.85Ohio Valley Electric Corporation20,00095,085
$66.00EMMT10,000105,085
$65.53Macquarie Cook Power Inc.1,500106,585
$64.00EMMT10,000116,585
$62.00EMMT*10,000126,585

Bids below this line were unsuccessful because they were below the clearing price of $62.00.

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.
 
$62.00 NRG Power Marketing LLC3,000129,585
$61.00Ohio Valley Electric Corporation5,000134,585
$60.53Macquarie Cook Power Inc.1,500136,085
$60.00EMMT10,000146,085
$57.51Element Markets, LLC1,683147,768
$57.12Olduvai Gorge3,000150,768
$55.53Macquarie Cook Power Inc.1,500152,268
$55.03Element Markets, LLC1,200153,468
$55.00EMMT20,000173,468
$53.00NRG Power Marketing LLC6,000179,468
$52.51Element Markets, LLC500179,968
$52.12Olduvai Gorge4,000183,968
$51.00NRG Power Marketing LLC8,000191,968
$50.53Macquarie Cook Power Inc.1,250193,218
$50.00Cantor Fitzgerald2,800196,018
$50.00Louis Dreyfus Energy Services L.P.2,500198,518
$50.00Cantor Fitzgerald2,200200,718
$49.67JP Morgan Ventures Energy Corporation10,000210,718
$47.26Morgan Stanley Capital Group, Inc.5,000215,718
$47.12Olduvai Gorge6,000221,718
$45.53Macquarie Cook Power Inc.1,250222,968
$45.00Cantor Fitzgerald2,800225,768
$45.00Cantor Fitzgerald2,200227,968
$44.00NRG Power Marketing LLC8,000235,968
$42.12Olduvai Gorge10,000245,968
$41.00Ohio Valley Electric Corporation10,000255,968
$40.53Macquarie Cook Power Inc.1,250257,218
$40.08Morgan Stanley Capital Group, Inc.15,000272,218
$40.00Cantor Fitzgerald2,800275,018
$40.00Cantor Fitzgerald2,200277,218
$37.50Louis Dreyfus Energy Services L.P.5,000282,218
$37.12Olduvai Gorge10,000292,218
$35.53Macquarie Cook Power Inc.1,500293,718
$35.00Cantor Fitzgerald2,800296,518
$35.00Cantor Fitzgerald2,200298,718
$34.71JP Morgan Ventures Energy Corporation10,000308,718
$30.03Natsource Aeolus Fund II Master Fund Ltd.5,000313,718
$27.13MET20,000333,718
$25.06Natsource Aeolus Fund II Master Fund Ltd.12,500346,218
$25.00Louis Dreyfus Energy Services L.P.10,000356,218
$23.31LUME12,500368,718
$23.13MET15,425384,143
$21.02Natsource Aeolus Fund II Master Fund Ltd.22,500406,643
$20.02Element Markets, LLC10,000416,643
$20.00Louis Dreyfus Energy Services L.P.15,000431,643
$18.33JP Morgan Ventures Energy Corporation15,000446,643
$17.22LUME12,500459,143
$15.02Element Markets, LLC15,000474,143
$15.00Louis Dreyfus Energy Services L.P.20,000494,143
$10.03Element Markets, LLC8,200502,343
$10.00Louis Dreyfus Energy Services L.P.25,000527,343
$7.97LUME12,500539,843
$6.31LUME12,500552,343
$5.86JP Morgan Ventures Energy Corporation35,000587,343
$5.77Credit Suisse Energy LLC125,000712,343
$3.11LUME25,000737,343
$2.68JP Morgan Ventures Energy Corporation55,000792,343
$1.00LUME50,000842,343
$.06Element Markets, LLC50,000892,343

*Awarded a partial fill of 8,415 out of 10,000 allowances bid for.

7-Year Advance Bids (First Usable in 2016)

Bids Bidder's Name Quantity Total
$200.00University of Tampa Environmental Protection Coalition33
$166.00Green Country Energy, LLC811
$165.00Rutgers Prep School Environmental Club314
$40.65Bates College Environmental Econ A115
$32.28Bates College Environmental Econ B116
$6.63JP Morgan Ventures Energy Corporation*125,000125,016
Bids below this line were unsuccessful because they were below the clearing price of $6.63.
$6.20Barclays Bank PLC10,000135,016
$6.06Morgan Stanley Capital Group, Inc.10,000145,016
$5.30Evolution Markets5,000150,016
$5.20Barclays Bank PLC50,000200,016
$5.17Morgan Stanley Capital Group, Inc.25,000225,016
$5.05DTE10,000235,016
$5.03MET20,000255,016
$4.30Evolution Markets5,000260,016
$4.25Morgan Stanley Capital Group, Inc.25,000285,016
$4.20Barclays Bank PLC65,000350,016
$4.05DTE10,000360,016
$3.30Evolution Markets5,000365,016
$2.54Natsource Aeolus Fund II Master Fund Ltd.25,000390,016
$2.23Credit Suisse Energy LLC125,000515,016
$2.05Element Markets, LLC30,000545,016
$2.00LUME12,500557,516
$1.30Evolution Markets10,000567,516
$1.05Evolution Markets20,000587,516
$1.03Element Markets, LLC37,400624,916

*Awarded a partial fill of 124,984 out of 125,000 allowances bid for.

An Excel spreadsheet (Excel, 78 K) provides the same results. Download an Excel viewer exit EPA

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