2002 SO2 Allowance Auction
| Origin of Allowances | Spot Auction (First Usable in 2002) |
7-Year Advance Auction (First Usable in 2009) |
|---|---|---|
| EPA | 125,000 | 125,000 |
| Privately Offered | 2,388 | 2,388 |
| Total | 127,388 | 127,388 |
| Allowances | Number of Bids | Number of Bidders | Bid Price |
|---|---|---|---|
| Bid For: 302,285 | Successful: 46 | Successful: 21 | Highest: $215.00 |
| Sold: 127,388 | Unsuccessful: 7 | Unsuccessful: 6 | Clearing: $160.50 (the clearing price is the lowest price at which a successful bid was made) |
| Total: 53 | Total: 27 | Lowest: $150.00 | |
| Average: $167.74 (weighted by the number of allowances in each bid) |
| Allowances | Number of Bids | Number of Bidders | Bid Price |
|---|---|---|---|
| Bid For: 273,388 | Successful: 13 | Successful: 5 | Highest: $120.00 |
| Sold: 127,388 | Unsuccessful: 3 | Unsuccessful: 3 | Clearing: $68.00 (the clearing price is the lowest price at which a successful bid was made) |
| Total: 16 | Total: 8 | Lowest: $60.00 | |
| Average: $81.87 (weighted by the number of allowances in each bid) |
| Bidder's Name | Quantity | Percentage of Total Allowances |
Amount Paid |
|---|---|---|---|
| PSEG Energy Resources and Trade LLC | 51,492 | 40.42 | $8,495,691.00 |
| Reliant Energy | 30,000 | 23.55 | $5,132,500.00 |
| Patriot | 25,000 | 19.63 | $4,300,000.00 |
| ABN AMRO, Incorporated | 10,000 | 7.85 | $1,610,000.00 |
| The Detroit Edison Company | 5,850 | 4.59 | $984,343.50 |
| The Dayton Power and Light Company | 5,000 | 3.93 | $837,500.00 |
| Cleaner and Greener Program | 10 | < 0.01 | $1,860.00 |
| Acid Rain Retirement Fund | 10 | < 0.01 | $1,850.00 |
| Maryland Environmental Law Society | 9 | < 0.01 | $1,666.00 |
| Indiana University Env. Law Society | 3 | < 0.01 | $645.00 |
| Robert Simons & Assoc./CAC | 3 | < 0.01 | $540.00 |
| Levin College Environmental Class/CAC | 2 | < 0.01 | $350.00 |
| Econ 212 - Hobart & William Smith Colleges | 1 | < 0.01 | $200.00 |
| Georgia State University Env. Law Society | 1 | < 0.01 | $200.00 |
| Justin-Siena Ecology Club | 1 | < 0.01 | $200.00 |
| Bates College Env. Economics | 1 | < 0.01 | 190.00 |
| Beloit College SO2 Reduction Program | 1 | < 0.01 | 185.00 |
| AEM 451/ECON 409 Cornell University 2002 | 1 | < 0.01 | 182.00 |
| AEM 450 Cornell University 2002 | 1 | < 0.01 | 180.00 |
| Birney Elementary School/CAC | 1 | < 0.01 | 180.00 |
| Temple Emanuel Confirmation Class/CAC | 1 | < 0.01 | 180.00 |
| TOTALS | 127,388 | 100% | $21,368,642.50 |
| Bidder's Name | Quantity | Percentage of Total Allowances |
Amount Paid |
|---|---|---|---|
| PSEG Energy Resources and Trade LLC | 50,000 | 39.25 | $4,395,000.00 |
| ABN AMRO, Inc. | 30,000 | 23.55 | $2,530,000.00 |
| Virginia Electric & Power Company | 30,000 | 23.55 | $2,270,300.00 |
| American Electric Power | 16,388 | 12.86 | $1,114,384.00 |
| Missouri River Energy Services | 1,000 | 0.79 | $120,000.00 |
| TOTALS | 127,388 | 100% | $10,429,684.00 |
Total Auction Proceeds: $31,798,326.50
| Bids | Bidder's Name | Quantity | Total |
|---|---|---|---|
| $215.00 | Indiana University Env. Law Society | 3 | 3 |
| $200.00 | Econ 212 - Hobart & William Smith Colleges | 1 | 4 |
| $200.00 | Justin-Siena Ecology Club | 1 | 5 |
| $200.00 | Georgia State University Env. Law Society | 1 | 6 |
| $190.00 | Bates College Env. Economics | 1 | 7 |
| $186.00 | Maryland Env. Law Society | 5 | 12 |
| $186.00 | Cleaner and Greener Program | 10 | 22 |
| $185.00 | Acid Rain Retirement Fund | 10 | 32 |
| $185.00 | Beloit College SO2 Reduction Program | 1 | 33 |
| $184.00 | Maryland Environmental Law Society | 4 | 37 |
| $182.00 | AEM 451/ECON 409 Cornell University 2002 | 1 | 38 |
| $180.00 | AEM 250 Cornell University 2002 | 1 | 39 |
| $180.00 | Birney Elementary School/CAC | 1 | 40 |
| $180.00 | Levin College Env. Class/CAC | 1 | 41 |
| $180.00 | Robert Simons & Assoc./CAC | 3 | 44 |
| $180.00 | Temple Emanuel Confirmation Class/CAC | 1 | 45 |
| $176.00 | Reliant Energy | 5,000 | 5,045 |
| $174.50 | Reliant Energy | 5,000 | 10,045 |
| $174.00 | PSEG Energy Resources and Trade LLC | 2,500 | 12,545 |
| $174.00 | Reliant Energy | 10,000 | 22,545 |
| $173.11 | The Detroit Edison Company | 700 | 23,245 |
| $173.00 | PSEG Energy Resources and Trade LLC | 2,500 | 25,745 |
| $172.11 | The Detroit Edison Company | 700 | 26,445 |
| $172.00 | PSEG Energy Resources and Trade LLC | 2,500 | 28,945 |
| $172.00 | Patriot | 25,000 | 53,945 |
| $171.11 | The Detroit Edison Company | 700 | 54,645 |
| $171.00 | PSEG Energy Resources and Trade LLC | 2,500 | 57,145 |
| $170.14 | PSEG Energy Resources and Trade LLC | 2,500 | 59,645 |
| $170.11 | The Detroit Edison Company | 750 | 60,395 |
| $170.00 | Levin College Env. Class/CAC | 1 | 60,396 |
| $170.00 | The Dayton Power and Light Company | 2,500 | 62,896 |
| $169.10 | PSEG Energy Resources and Trade LLC | 2,500 | 65,396 |
| $168.25 | PSEG Energy Resources and Trade LLC | 2,500 | 67,896 |
| $168.11 | The Detroit Edison Company | 750 | 68,646 |
| $167.00 | Reliant Energy | 5,000 | 73,646 |
| $166.25 | PSEG Energy Resources and Trade LLC | 2,500 | 76,146 |
| $166.11 | The Detroit Edison Company | 750 | 76,896 |
| $165.00 | The Dayton Power and Light Company | 2,500 | 79,396 |
| $164.25 | PSEG Energy Resources and Trade LLC | 2,500 | 81,896 |
| $164.11 | The Detroit Edison Company | 750 | 82,646 |
| $162.11 | The Detroit Edison Company | 750 | 83,396 |
| $162.00 | PSEG Energy Resources and Trade LLC | 10,000 | 93,396 |
| $161.25 | PSEG Energy Resources and Trade LLC | 2,500 | 103,396 |
| $161.00 | Reliant Energy | 5,000 | 108,396 |
| $161.00 | ABN AMRO, Inc. | 10,000 | 118,396 |
| $160.50 | PSEG Energy Resources and Trade LLC* | 10,000 | 128,396 |
Bids below this line were unsuccessful because they were below the clearing price of $160.50. |
|||
| $160.11 | 750 | 129,146 | |
| $160.00 | 10,000 | 139,146 | |
| $158.11 | 750 | 139,896 | |
| $156.00 | 10,000 | 149,896 | |
| $155.66 | 25,000 | 174,896 | |
| $151.05 | 127,388 | 302,284 | |
| $150.00 | 1 | 302,285 | |
*Awarded a partial fill of 8,992 out of 10,000 allowances bid for.
| Bids | Bidder's Name | Quantity | Total |
|---|---|---|---|
| $120.00 | Missouri River Energy Services | 1,000 | 1,000 |
| $95.00 | PSEG Energy Resources and Trade LLC | 10,000 | 11,000 |
| $91.00 | ABN AMRO, Incorporated | 10,000 | 21,000 |
| $90.00 | PSEG Energy Resources and Trade LLC | 10,000 | 31,000 |
| $89.50 | PSEG Energy Resources and Trade LLC | 10,000 | 41,000 |
| $86.00 | ABN AMRO, Incorporated | 10,000 | 51,000 |
| $85.00 | PSEG Energy Resources and Trade LLC | 10,000 | 61,000 |
| $80.01 | Virginia Electric and Power Company | 10,000 | 71,000 |
| $80.00 | PSEG Energy Resources and Trade LLC | 10,000 | 81,000 |
| $76.01 | Virginia Electric and Power Company | 10,000 | 91,000 |
| $76.00 | ABN AMRO, Incorporated | 10,000 | 101,000 |
| $71.01 | Virginia Electric and Power Company | 10,000 | 111,000 |
| $68.00 | American Electric Power* | 63,694 | 174,694 |
Bids below this line were unsuccessful because they were below the clearing price of $68.00. |
|||
| $66.01 | 10,000 | 184,694 | |
| $63.00 | 63,694 | 248,388 | |
| $60.00 | 25,000 | 273,388 | |
*Awarded a partial fill of 16,388 out of 36,694 allowances bid for.
2002 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.
| Offers | Quantity | Cumulative Total |
|---|---|---|
| ********** | 2,388* | 2,388 |
*2,388 allowances, with offer prices equal to or less than $160.50, were sold at $160.50.
| Offers | Quantity | Cumulative Total |
|---|---|---|
| ********** | 2,388* | 2,388 |
*2,388 allowances with offer prices equal to or less than $68.00, were sold at $68.00.
The 2002 Auction Proceeds Spreadsheet (xls) provides the same results. Download an Excel viewer.