2007 SO2 Allowance Auction
| Origin of Allowances | Spot Auction (First Usable in 2007) |
7-Year Advance Auction (First Usable in 2014) |
|---|---|---|
| EPA | 125,000 | 125,000 |
| Privately Offered | 0 | 0 |
| Total | 125,000 | 125,000 |
| Allowances | Number of Bids | Number of Bidders | Bid Price |
|---|---|---|---|
| Bid For: 303,790 | Successful: 37 | Successful: 14 | Highest: $1,120.00 |
| Sold: 125,000 | Unsuccessful: 35 | Unsuccessful: 3 | Clearing: $433.25 (the clearing price is the lowest price at which a successful bid was made) |
| Total: 72 | Total: 17 | Lowest: $300.00 | |
| Weighted Average of Winning Bids: $444.39 |
| Allowances | Number of Bids | Number of Bidders | Bid Price |
|---|---|---|---|
| Bid For: 592,515 | Successful: 18 | Successful: 10 | Highest: $400.00 |
| Sold: 125,000 | Unsuccessful: 35 | Unsuccessful: 5 | Clearing: $176.00 (the clearing price is the lowest price at which a successful bid was made) |
| Total: 53 | Total: 15 | Lowest: $5.00 | |
| Weighted Average of Winning Bids: $193.35 |
| Bidder's Name | Quantity | Percentage of Total Allowances | Amount Paid |
|---|---|---|---|
| Morgan Stanley | 50,000 | 40.000 | $22,254,000.00 |
| KS&T, LP | 30,575 | 24.460 | $13,406,618.75 |
| Saracen Energy LP | 15,000 | 12.000 | $6,787,500.00 |
| Transalta Energy Marketing U.S. | 9,900 | 7.920 | $4,454,600.00 |
| South Carolina Public Service Authority | 7,500 | 6.000 | $3,337,500.00 |
| Alpha | 5,000 | 4.000 | $2,192,500.00 |
| Constellation Energy Commodities Group, Inc. | 2,500 | 2.000 | $1,108,850.00 |
| Merrill Lynch Commodities Inc. | 2,500 | 2.000 | $1,100,175.00 |
| The Detroit Edison Company | 2,000 | 1.600 | $890,190.00 |
| Green County Energy, LLC | 8 | 0.006 | $8,000.00 |
| Acid Rain Retirement Fund | 12 | 0.010 | $5,892.00 |
| Clean Air Conservancy Charitable Trust | 3 | 0.002 | $1,800.00 |
| Washington College Student Environmental Alliance | 1 | 0.001 | $1,120.00 |
| AEM 250 Cornell University 2007 | 1 | 0.001 | $490.00 |
| TOTALS | 125,000 | 100% | $55,549,235.75 |
| Bidder's Name | Quantity | Percentage of Total Allowances | Amount Paid |
|---|---|---|---|
| American Electric Power | 80,000 | 64.000 | $16,036,000.00 |
| DTE | 30,000 | 24.000 | $5,434,500.00 |
| Cantor Fitzgerald Brokerage | 10,000 | 8.000 | $1,816,300.00 |
| Bear Energy | 4,986 | 3.989 | $877,536.00 |
| Green County Energy, LLC | 8 | 0.006 | $2,800.00 |
| Rutgers Preparatory School Environmental Club | 2 | 0.002 | $580.00 |
| Clarkson University - ECO | 1 | 0.001 | $400.00 |
| Walden Asset Management | 1 | 0.001 | $350.00 |
| University of Iowa Environmental Law Society | 1 | 0.001 | $350.00 |
| University of Wisconsin Environmental Economics 343 | 1 | 0.001 | $317.00 |
| TOTALS | 125,000 | 100% | $24,169,133.00 |
Total Auction Proceeds: $79,718,368.75
| Bids | Bidder's Name | Quantity | Total |
|---|---|---|---|
| $1,120.00 | Washington College Student Environmental Alliance | 1 | 1 |
| $1,000.00 | Green County Energy, LLC | 8 | 9 |
| $600.00 | Clean Air Conservancy Charitable Trust | 3 | 12 |
| $491.00 | Acid Rain Retirement Fund | 12 | 24 |
| $490.00 | AEM 250 Cornell University 2007 | 1 | 25 |
| $473.00 | Transalta Energy Marketing U.S. | 50 | 75 |
| $465.00 | Transalta Energy Marketing U.S. | 50 | 125 |
| $464.00 | Transalta Energy Marketing U.S. | 75 | 200 |
| $463.00 | Transalta Energy Marketing U.S. | 150 | 350 |
| $462.00 | Transalta Energy Marketing U.S. | 300 | 650 |
| $461.00 | Transalta Energy Marketing U.S. | 575 | 1,225 |
| $456.00 | Transalta Energy Marketing U.S. | 2,175 | 3,400 |
| $455.22 | The Detroit Edison Company | 250 | 3,650 |
| $453.22 | The Detroit Edison Company | 250 | 3,900 |
| $452.50 | Saracen Energy LP | 15,000 | 18,900 |
| $451.22 | The Detroit Edison Company | 250 | 19,150 |
| $451.00 | Transalta Energy Marketing U.S. | 2,175 | 21,325 |
| $450.08 | Morgan Stanley | 25,000 | 46,325 |
| $450.00 | South Carolina Public Service Authority | 2,500 | 48,825 |
| $449.22 | The Detroit Edison Company | 250 | 49,075 |
| $447.50 | Constellation Energy Commodities Group, Inc. | 1,250 | 50,325 |
| $445.08 | Morgan Stanley | 10,000 | 60,325 |
| $445.00 | Alpha | 1,000 | 61,325 |
| $445.00 | South Carolina Public Service Authority | 2,500 | 63,825 |
| $444.22 | The Detroit Edison Company | 250 | 64,075 |
| $443.00 | Transalta Energy Marketing U.S. | 4,350 | 68,425 |
| $441.25 | KS&T, LP | 20,000 | 88,425 |
| $440.08 | Morgan Stanley | 5,000 | 93,425 |
| $440.07 | Merrill Lynch Commodities Inc. | 2,500 | 95,925 |
| $440.00 | Alpha | 1,500 | 97,425 |
| $440.00 | South Carolina Public Service Authority | 2,500 | 99,925 |
| $439.58 | Constellation Energy Commodities Group, Inc. | 1,250 | 101,175 |
| $439.22 | The Detroit Edison Company | 250 | 101,425 |
| $435.08 | Morgan Stanley | 10,000 | 111,425 |
| $435.00 | Alpha | 2,500 | 113,925 |
| $434.22 | The Detroit Edison Company | 500 | 114,425 |
| $433.25 | KS&T, LP* | 20,000 | 134,425 |
Bids below this line were unsuccessful because they were below the clearing price of $433.25 |
|||
| $431.66 | Constellation Energy Commodities Group, Inc. | 1,250 | 135,675 |
| $430.58 | Cantor Fitzgerald Brokerage | 500 | 136,175 |
| $430.00 | South Carolina Public Service Authority | 3,865 | 140,040 |
| $429.22 | The Detroit Edison Company | 500 | 140,540 |
| $427.16 | Morgan Stanley | 10,000 | 150,540 |
| $427.00 | Alpha | 2,500 | 153,040 |
| $425.58 | Cantor Fitzgerald Brokerage | 500 | 153,540 |
| $425.07 | Merrill Lynch Commodities Inc. | 2,500 | 156,040 |
| $424.22 | The Detroit Edison Company | 1,000 | 157,040 |
| $423.74 | Constellation Energy Commodities Group, Inc. | 1,250 | 158,290 |
| $421.16 | Morgan Stanley | 10,000 | 168,290 |
| $421.00 | PPL EnergyPlus, LLC | 500 | 168,790 |
| $420.58 | Cantor Fitzgerald Brokerage | 500 | 169,290 |
| $419.22 | The Detroit Edison Company | 1,000 | 170,290 |
| $417.50 | Alpha | 5,000 | 175,290 |
| $415.82 | Constellation Energy Commodities Group, Inc. | 1,250 | 176,540 |
| $415.58 | Cantor Fitzgerald Brokerage | 500 | 177,040 |
| $415.07 | Merrill Lynch Commodities Inc. | 2,500 | 179,540 |
| $412.50 | Alpha | 5,000 | 184,540 |
| $408.50 | Alpha | 5,000 | 189,540 |
| $407.90 | Constellation Energy Commodities Group, Inc. | 1,250 | 190,790 |
| $405.16 | Morgan Stanley | 10,000 | 200,790 |
| $401.07 | Merrill Lynch Commodities Inc. | 2,500 | 203,290 |
| $401.00 | PPL EnergyPlus, LLC | 500 | 203,790 |
| $400.00 | Colorado Springs Utilities | 500 | 204,290 |
| $399.98 | Constellation Energy Commodities Group, Inc. | 1,000 | 205,290 |
| $392.06 | Constellation Energy Commodities Group, Inc. | 1,000 | 206,290 |
| $390.16 | Morgan Stanley | 10,000 | 216,290 |
| $381.00 | PPL EnergyPlus, LLC | 500 | 216,790 |
| $361.00 | PPL EnergyPlus, LLC | 500 | 217,290 |
| $351.00 | Saracen Energy LP | 50,000 | 267,290 |
| $350.00 | Morgan Stanley | 20,000 | 287,290 |
| $341.00 | PPL EnergyPlus, LLC | 500 | 287,790 |
| $325.00 | Morgan Stanley | 15,000 | 302,790 |
| $300.00 | Colorado Springs Utilities | 1,000 | 303,790 |
*Awarded a partial fill of 10,575 out of 20,000 allowances bid for.
| Bids | Bidder's Name | Quantity | Total |
|---|---|---|---|
| $400.00 | Clarkson University - ECO | 1 | 1 |
| $350.00 | Green County Energy, LLC | 8 | 9 |
| $350.00 | University of Iowa Environmental Law Society | 1 | 10 |
| $350.00 | Walden Asset Management | 1 | 11 |
| $317.00 | University of Wisconsin Environmental Economics 343 | 1 | 12 |
| $290.00 | Rutgers Preparatory School Environmental Club | 2 | 14 |
| $207.70 | American Electric Power | 50,000 | 50,014 |
| $197.70 | American Electric Power | 10,000 | 60,014 |
| $188.70 | American Electric Power | 10,000 | 70,014 |
| $185.38 | Cantor Fitzgerald Brokerage | 2,500 | 72,514 |
| $185.15 | DTE | 10,000 | 82,514 |
| $182.88 | Cantor Fitzgerald Brokerage | 2,500 | 85,014 |
| $181.15 | DTE | 10,000 | 95,014 |
| $180.38 | Cantor Fitzgerald Brokerage | 2,500 | 97,514 |
| $178.70 | American Electric Power | 10,000 | 107,514 |
| $177.88 | Cantor Fitzgerald Brokerage | 2,500 | 110,014 |
| $177.15 | DTE | 10,000 | 120,014 |
| $176.00 | Bear Energy* | 5,000 | 125,014 |
Bids below this line were unsuccessful because they were below the clearing price of $176.00. 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. |
|||
| $176.00 | KS&T, LP | 50,000 | 175,014 |
| $175.38 | Cantor Fitzgerald Brokerage | 2,500 | 177,514 |
| $175.16 | Morgan Stanley | 5,000 | 182,514 |
| $174.15 | DTE | 10,000 | 192,514 |
| $172.88 | Cantor Fitzgerald Brokerage | 2,500 | 195,014 |
| $171.15 | DTE | 10,000 | 205,014 |
| $171.13 | Olduvai Gorge | 10,000 | 215,014 |
| $170.38 | Cantor Fitzgerald Brokerage | 2,500 | 217,514 |
| $170.16 | Morgan Stanley | 5,000 | 222,514 |
| $170.00 | AEM 451/Econ 409 - Cornell University | 1 | 222,515 |
| $168.70 | American Electric Power | 10,000 | 232,515 |
| $167.88 | Cantor Fitzgerald Brokerage | 2,500 | 235,015 |
| $166.00 | Bear Energy | 10,000 | 245,015 |
| $165.00 | JP Morgan Ventures Energy Corporation | 5,000 | 250,015 |
| $161.13 | Olduvai Gorge | 10,000 | 260,015 |
| $161.00 | Bear Energy | 10,000 | 270,015 |
| $160.16 | Morgan Stanley | 10,000 | 280,015 |
| $158.88 | American Electric Power | 10,000 | 290,015 |
| $156.00 | Bear Energy | 10,000 | 300,015 |
| $155.00 | JP Morgan Ventures Energy Corporation | 7,500 | 307,515 |
| $151.13 | Olduvai Gorge | 15,000 | 322,515 |
| $150.16 | Morgan Stanley | 10,000 | 332,515 |
| $148.88 | American Electric Power | 10,000 | 342,515 |
| $141.13 | Olduvai Gorge | 20,000 | 362,515 |
| $140.00 | Morgan Stanley | 10,000 | 372,515 |
| $138.88 | American Electric Power | 15,000 | 387,515 |
| $135.00 | JP Morgan Ventures Energy Corporation | 10,000 | 397,515 |
| $130.00 | Morgan Stanley | 20,000 | 417,515 |
| $126.00 | Bear Energy | 20,000 | 437,515 |
| $125.00 | JP Morgan Ventures Energy Corporation | 20,000 | 457,515 |
| $120.00 | Morgan Stanley | 30,000 | 487,515 |
| $110.00 | Morgan Stanley | 35,000 | 522,515 |
| $101.00 | Bear Energy | 20,000 | 542,515 |
| $51.00 | Bear Energy | 20,000 | 562,515 |
| $5.00 | Bear Energy | 30,000 | 592,515 |
*Awarded a partial fill of 4,986 out of 5,000 allowances bid for.
The 2007 Auction Proceeds Spreadsheet (xls) provides the same results. Download an Excel viewer.