2000 SO2 Allowance Auction
| Origin of Allowances | Spot Auction (First Usable in 2000) |
7-Year Advance Auction (First Usable in 2007) |
|---|---|---|
| EPA | 125,000 | 125,000 |
| Privately Offered | 5,388 | 2,500 |
| Total | 130,388 | 127,500 |
| Allowances | Number of Bids | Number of Bidders | Bid Price |
|---|---|---|---|
| Bid For: 318,509 | Successful: 51 | Successful:23 | Highest:$250.00 |
| Sold: 128,388 | Unsuccessful: 34 | Unsuccessful:13 | Clearing:$126.00 (the clearing price is the lowest price at which a successful bid was made) |
| Total:85 | Total:36 | Lowest:$80.05 | |
| Average:$130.69 (weighted) |
| Allowances | Number of Bids | Number of Bidders | Bid Price |
|---|---|---|---|
| Bid For: 210,224 | Successful: 21 | Successful: 6 | Highest: $200.00 |
| Sold: 125,000 | Unsuccessful: 3 | Unsuccessful: 2 | Clearing: $55.27 (the clearing price is the lowest price at which a successful bid was made) |
| Total: 24 | Total: 8 | Lowest: $40.57 | |
| Average: $68.32 (weighted) |
| Bidder's Name | Quantity | Percentage of Total Allowances |
Amount Paid |
|---|---|---|---|
| American Electric Power | 60,000 | 46.73 | $7,969,500.00 |
| Enron North America | 19,850 | 15.46 | $2,549,962.50 |
| PG&E Energy Trading - Power, L.P. | 15,700 | 12.23 | $1,998,542.00 |
| The Dayton Power and Light Company | 10,000 | 7.79 | $1,275,000.00 |
| Baltimore Gas and Electric Company | 9,211 | 7.17 | $1,175,586.00 |
| The Detroit Edison Company | 5,300 | 4.13 | $703,211.00 |
| South Carolina Electric & Gas Co. | 5,000 | 3.89 | $650,000.00 |
| Sunbury Generation, LLC | 2,500 | 1.95 | $337,375.00 |
| UGI Development Company | 500 | 0.39 | $65,000.00 |
| Sacramento Municipal Utility District | 200 | 0.16 | $37,154.00 |
| KUA Cane Island | 74 | 0.06 | $10,508.00 |
| Acid Rain Retirement Fund | 13 | 0.01 | $1,950.00 |
| Maryland Environmental Law Society | 10 | 0.01 | $1,475.00 |
| Isaak Walton League, Va / Clean Air Conservancy | 5 | < 0.01 | $680.00 |
| NATSOURCE LLC | 5 | < 0.01 | $692.50 |
| The Clean Air Conservancy | 5 | < 0.01 | $665.05 |
| Avista Corp. | 4 | < 0.01 | $600.00 |
| Birney School - CAC | 3 | < 0.01 | $423.00 |
| IU School of Law - ELS | 3 | < 0.01 | $435.00 |
| CSU Environmental Finance / CAC | 2 | < 0.01 | $277.02 |
| ARME 451 / ECON 409 Cornell Univ. 2000 | 1 | < 0.01 | $135.00 |
| Midwest Environmental Law Caucus | 1 | < 0.01 | $250.00 |
| St. Domenico School Environmental Club / CAC | 1 | < 0.01 | $140.00 |
| TOTALS | 128,388 | 100% | $16,779,561.07 |
| Bidder's Name | Quantity | Percentage of Total Allowances |
Amount Paid |
|---|---|---|---|
| American Electric Power | 109,776 | 87.82 | $7,536,294.52 |
| Cantor Fitzgerald Brokerage, L.P. | 10,120 | 8.10 | $615,150.00 |
| Southern Indiana Gas and Electric Company | 5,000 | 4.00 | $372,500.00 |
| Sacramento Municipal Utility District | 100 | 0.08 | $15,577.00 |
| ARME - Cornell University | 3 | < 0.01 | $405.00 |
| Benjamin N. Cardozo School of Law Envir Law Society | 1 | < 0.01 | $200.00 |
| TOTALS | 125,000 | 100% | $8,540,126.52 |
TOTAL AUCTION PROCEEDS: $25,319,687.59
| BIDS | BIDDER'S NAME | QUANTITY | TOTAL |
|---|---|---|---|
| $250.00 | Midwest Environmental Law Caucus | 1 | 1 |
| $200.77 | Sacramento Municipal Utility District | 100 | 101 |
| $175.77 | Sacramento Municipal Utility District | 50 | 151 |
| $165.77 | Sacramento Municipal Utility District | 50 | 201 |
| $150.00 | Avista Corp. | 2 | 203 |
| $150.00 | Avista Corp. | 2 | 205 |
| $150.00 | Maryland Environmental Law Society | 5 | 210 |
| $150.00 | Acid Rain Retirement Fund | 13 | 223 |
| $145.00 | Maryland Environmental Law Society | 5 | 228 |
| $145.00 | IU School of Law - ELS | 3 | 231 |
| $142.00 | KUA Cane Island Unit No. 1 | 10 | 241 |
| $142.00 | KUA Cane Island Unit No. 3 | 38 | 279 |
| $142.00 | KUA Cane Island Unit No. 2 | 26 | 305 |
| $141.00 | Birney School - CAC | 3 | 308 |
| $140.00 | St. Domenico School Environmental Club / CAC | 1 | 309 |
| $138.51 | CSU Environmental Finance / CAC | 2 | 311 |
| $138.50 | NATSOURCE LLC | 5 | 316 |
| $138.50 | American Electric Power | 10,000 | 10,316 |
| $136.23 | American Electric Power | 10,000 | 20,316 |
| $136.00 | Isaak Walton League, Va / Clean Air Conservancy | 5 | 20,321 |
| $135.00 | ARME 451 / ECON 409 Cornell Univ. 2000 | 1 | 20,322 |
| $134.95 | Sunbury Generation, LLC | 2,500 | 22,822 |
| $134.11 | The Detroit Edison Company | 500 | 23,322 |
| $133.96 | American Electric Power | 10,000 | 33,322 |
| $133.81 | The Detroit Edison Company | 500 | 33,822 |
| $133.49 | The Detroit Edison Company | 500 | 34,322 |
| $133.19 | The Detroit Edison Company | 500 | 34,822 |
| $133.01 | The Clean Air Conservancy | 5 | 34,827 |
| $132.93 | The Detroit Edison Company | 500 | 35,327 |
| $132.63 | The Detroit Edison Company | 500 | 35,827 |
| $132.37 | The Detroit Edison Company | 500 | 36,327 |
| $132.07 | The Detroit Edison Company | 500 | 36,827 |
| $131.78 | PG&E Energy Trading - Power, L.P. | 1,000 | 37,827 |
| $131.74 | The Detroit Edison Company | 500 | 38,327 |
| $131.69 | American Electric Power | 10,000 | 48,327 |
| $131.44 | The Detroit Edison Company | 500 | 48,827 |
| $131.07 | The Detroit Edison Company | 300 | 49,127 |
| $130.89 | Enron North America | 9,550 | 58,677 |
| $130.00 | UGI Development Company | 500 | 59,177 |
| $130.00 | South Carolina Electric & Gas Co. | 5,000 | 64,177 |
| $129.42 | American Electric Power | 10,000 | 74,177 |
| $129.00 | Baltimore Gas and Electric Company | 2,500 | 76,677 |
| $128.77 | PG&E Energy Trading - Power, L.P. | 1,000 | 77,677 |
| $128.00 | Baltimore Gas and Electric Company | 2,500 | 80,177 |
| $127.50 | The Dayton Power and Light Company | 10,000 | 90,177 |
| $127.15 | American Electric Power | 10,000 | 100,177 |
| $127.00 | Baltimore Gas and Electric Company | 2,500 | 102,677 |
| $126.87 | PG&E Energy Trading - Power, L.P. | 1,000 | 103,677 |
| $126.86 | PG&E Energy Trading - Power, L.P. | 12,700 | 116,377 |
| $126.21 | Enron North America* | 10,300 | 126,677 |
| $126.00 | Baltimore Gas and Electric Company** | 2,500 | 129,177 |
Bids below this line were unsuccessful because they were below the clearing price of $126.00. 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. |
|||
| $126.00 | 5,000 | 134,177 | |
| $125.00 | 500 | 134,677 | |
| $124.88 | 10,000 | 144,677 | |
| $123.87 | 1,000 | 145,677 | |
| $122.61 | 10,000 | 155,677 | |
| $122.00 | 5,000 | 160,677 | |
| $121.46 | 2,500 | 163,177 | |
| $120.34 | 10,000 | 173,177 | |
| $120.05 | 50 | 173,227 | |
| $120.00 | 1 | 173,228 | |
| $118.07 | 10,000 | 183,228 | |
| $118.00 | 5,000 | 188,228 | |
| $117.77 | 2,500 | 190,728 | |
| $115.80 | 10,000 | 200,728 | |
| $115.57 | 30,000 | 230,728 | |
| $115.00 | 1 | 230,729 | |
| $114.00 | 5,000 | 235,729 | |
| $113.53 | 15,000 | 250,729 | |
| $112.51 | 80 | 250,809 | |
| $110.00 | 10,000 | 260,809 | |
| $110.00 | 5,000 | 265,809 | |
| $110.00 | 10,000 | 275,809 | |
| $109.86 | 2,500 | 278,309 | |
| $107.96 | 2,500 | 280,809 | |
| $103.57 | 5,000 | 285,809 | |
| $102.25 | 5,000 | 290,809 | |
| $100.03 | 100 | 290,909 | |
| $100.01 | 10,000 | 300,909 | |
| $99.57 | 5,000 | 305,909 | |
| $98.48 | 2,500 | 308,409 | |
| $95.57 | 5,000 | 313,409 | |
| $94.47 | 2,500 | 315,909 | |
| $80.52 | 2,500 | 318,409 | |
| $80.05 | 100 | 318,509 | |
*This bid included 1,677 offered allowances.
**This bid was partially filled at 1,711 allowances, all of which were offered allowances.
| BIDS | BIDDER'S NAME | QUANTITY | TOTAL |
|---|---|---|---|
| $200.00 | Benjamin N Cardozo School of Law Envir Law Society | 1 | 1 |
| $160.00 | ARME - Cornell University | 1 | 2 |
| $155.77 | Sacramento Municipal Utility District | 100 | 102 |
| $135.00 | ARME - Cornell University | 1 | 103 |
| $110.00 | ARME - Cornell University | 1 | 104 |
| $87.50 | American Electric Power | 5,000 | 5,104 |
| $84.77 | American Electric Power | 5,000 | 10,104 |
| $82.04 | American Electric Power | 5,000 | 15,104 |
| $79.31 | American Electric Power | 7,500 | 22,604 |
| $78.75 | Cantor Fitzgerald Brokerage, L.P. | 120 | 22,724 |
| $76.58 | American Electric Power | 7,500 | 30,224 |
| $74.50 | Southern Indiana Gas and Electric Company | 5,000 | 35,224 |
| $73.85 | American Electric Power | 7,500 | 42,724 |
| $71.12 | American Electric Power | 10,000 | 52,724 |
| $68.39 | American Electric Power | 10,000 | 62,724 |
| $65.66 | American Electric Power | 10,000 | 72,724 |
| $62.93 | American Electric Power | 10,000 | 82,724 |
| $60.57 | Cantor Fitzgerald Brokerage, L.P. | 10,000 | 92,724 |
| $60.20 | American Electric Power | 10,000 | 102,724 |
| $57.47 | American Electric Power | 12,500 | 115,224 |
| $55.27 | American Electric Power* | 25,000 | 140,224 |
Bids below this line were unsuccessful because they were below the clearing price of $55.27 |
|||
| $50.57 | 20,000 | 160,224 | |
| $50.26 | 20,000 | 180,224 | |
| $40.57 | 30,000 | 210,224 | |
*Awarded a partial fill of 9,776 out of 25,000 allowances bid for.
2000 Privately Offered Allowances and Floor Prices
Private allowance holders (such as utilities or brokers) may offer bids for sale in both the spot auction and the 7 year advance auction. When placing an offer, the allowance holder specifies a minimum price it will accept. EPA does not disclose the minimum price for allowances that were successfully sold through the auction.
| Floor Offer Price | Quantity | Cumulative Total |
|---|---|---|
| ********** | 1,677* | 1,677 |
| ********** | 1,711** | 3,388 |
| $134.95 | 1,000 | 4,388 |
| $148.44 | 1,000 | 5,388 |
* 1,677 allowances, with offer prices equal to or less than $126.21, were sold at $126.21.
** 1,711 allowances, with offer prices equal to or less than $126.00, were sold at $126.00.
| Floor Offer Price | Quantity | Cumulative Total |
|---|---|---|
| $105.92 | 2,500 | 2,500 |
The 2000 Auction Proceeds Spreadsheet (xls) containing all of this data is also available.
The 1993-2006 Auction Proceeds Spreadsheet (xls) provides auction proceeds at the unit and plant level for each year. Download an Excel viewer.