2004 SO2 Allowance 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 |
| 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 |
| 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 |
| 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 |
| 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
| 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 | AQUILA | 5,000 | 288,537 |
*Awarded a partial fill of 481 out of 10,000 allowances bid for.
| 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.
The 2004 Auction Proceeds Spreadsheet (xls) provides the same results. Download an Excel viewer.