2003 SO2 Allowance Auction
| Origin of Allowances | Spot Auction (First Usable in 2003) |
7-Year Advance Auction (First Usable in 2010) |
|---|---|---|
| EPA | 125,000 | 125,000 |
| Privately Offered | 10 | |
| Total | 125,010 | 125,000 |
| Allowances | Number of Bids | Number of Bidders | Bid Price |
|---|---|---|---|
| Bid For: 618,565 | Successful: 20 | Successful: 20 | Highest: $250.00 |
| Sold: 125,000 | Unsuccessful: 62 | Unsuccessful: 18 | Clearing: $171.80 (the clearing price is the lowest price at which a successful bid was made) |
| Total: 82 | Total: 38 | Lowest: $2.06 | |
| Average: $171.81 (weighted by the number of allowances in each bid) |
| Allowances | Number of Bids | Number of Bidders | Bid Price |
|---|---|---|---|
| Bid For: 438,500 | Successful: 6 | Successful: 2 | Highest: $92.00 |
| Sold: 125,000 | Unsuccessful: 34 | Unsuccessful: 5 | Clearing: $80.00 (the clearing price is the lowest price at which a successful bid was made) |
| Total: 40 | Total: 7 | Lowest: $10.00 | |
| Average: $86.40 (weighted by the number of allowances in each bid) |
| Bidder's Name | Quantity | Percentage of Total Allowances | Amount Paid |
|---|---|---|---|
| American Electric Power | 124,971 | 99.9 | $21,470,017.80 |
| Acid Rain Retirement Fund | 7 | < 0.01 | $1,288.00 |
| Midwest Environmental Law Caucus, Valparaiso Univ. School of Law | 4 | < 0.01 | $800.00 |
| USF St. Pete Friends for Better Air | 2 | < 0.01 | $433.10 |
| California Western School of Law Environmental Law Society | 1 | < 0.01 | $250.00 |
| University of Northern Iowa Conservation Club | 1 | < 0.01 | $200.00 |
| U. of Georgia Sierra Student Coalition/CAC | 1 | < 0.01 | $200.00 |
| St. Law U. Econ for Enviros '02/CAC | 1 | < 0.01 | $200.00 |
| South Kortright Central School/CAC | 1 | < 0.01 | $200.00 |
| SMU Environmental Law Society/CAC | 1 | < 0.01 | $200.00 |
| McDonald Elementary/CAC | 1 | < 0.01 | $200.00 |
| Maharishi U. of Mgt./CAC | 1 | < 0.01 | $200.00 |
| Georgia State University Environmental Law Society | 1 | < 0.01 | $200.00 |
| Fairview Elementary/CAC | 1 | < 0.01 | $200.00 |
| Environmental Law Assn. of G.W. School of Law/CAC | 1 | < 0.01 | $200.00 |
| Elton H. Riemer, CPA | 1 | < 0.01 | $200.00 |
| Birney Elementary School | 1 | < 0.01 | $200.00 |
| David Anderson - Environmental Economics | 1 | < 0.01 | $186.00 |
| Bates College Environmental Economics | 1 | < 0.01 | $185.50 |
| EPTRADE | 1 | < 0.01 | $176.00 |
| TOTALS | 125,000 | 100% | $21,475,736.40 |
| Bidder's Name | Quantity | Percentage of Total Allowances |
Amount Paid |
|---|---|---|---|
| American Electric Power | 115,000 | 92.0 | $10,000,000.00 |
| Virginia Electric & Power Co. | 10,000 | 8.0 | $800,200.00 |
| TOTALS | 125,000 | 100% | $10,800,200.00 |
Total Auction Proceeds: $32,275,936.40
| Bids | Bidder's Name | Quantity | Total |
|---|---|---|---|
| $250.00 | California Western School of Law Environmental Law Society | 1 | 1 |
| $216.55 | USF St. Pete Friends for Better Air | 2 | 3 |
| $200.00 | University of Northern Iowa Conservation Club | 1 | 4 |
| $200.00 | Birney Elementary School | 1 | 5 |
| $200.00 | U. of Georgia Sierra Student Coalition/CAC | 1 | 6 |
| $200.00 | South Kortright School/CAC | 1 | 7 |
| $200.00 | McDonald Elementary/CAC | 1 | 8 |
| $200.00 | Envt. Law Assn. of G.W. School of Law/CAC | 1 | 9 |
| $200.00 | St. Law U. Econ for Enviros '02/CAC | 1 | 10 |
| $200.00 | Fairview Elementary/CAC | 1 | 11 |
| $200.00 | Elton H. Riemer, CPA | 1 | 12 |
| $200.00 | Maharishi U. of Mgt./CAC | 1 | 13 |
| $200.00 | SMU Environmental Law Society/CAC | 1 | 14 |
| $200.00 | Georgia State University Environmental Law Society | 1 | 15 |
| $200.00 | Midwest Env. Law Caucus, Valparaiso Univ. School of Law | 4 | 19 |
| $186.00 | David Anderson - Environmental Economics | 1 | 20 |
| $185.50 | Bates College Environmental Economics | 1 | 21 |
| $184.00 | Acid Rain Retirement Fund | 7 | 28 |
| $176.00 | EPTRADE | 1 | 29 |
| $171.80 | American Electric Power* | 125,010 | 125,039 |
Bids below this line were unsuccessful because they were below the clearing price of $171.80. |
|||
| $170.00 | Maryland Environmental Law Society | 10 | 125,049 |
| $170.00 | AEM 250 Cornell University | 1 | 125,050 |
| $166.00 | AEM 451/ECON 409 Cornell University | 1 | 125,051 |
| $165.00 | CU03 GLP165 | 1 | 125,052 |
| $160.03 | Reliant Energy-Orion Power MidWest | 1,000 | 126,052 |
| $160.00 | Beloit College SO2 Reduction Program | 1 | 126,053 |
| $160.00 | CU03 GLP160 | 1 | 126,054 |
| $159.53 | Reliant Energy-Orion Power MidWest | 1,100 | 127,154 |
| $159.25 | Morgan Stanley Capital Group Inc. | 10,000 | 137,154 |
| $159.03 | Reliant Energy-Orion Power MidWest | 1,200 | 138,354 |
| $159.00 | WPS Power Development, Inc. | 2,500 | 140,854 |
| $158.53 | Reliant Energy-Orion Power MidWest | 1,400 | 142,254 |
| $158.25 | Morgan Stanley Capital Group Inc. | 15,000 | 157,254 |
| $158.03 | Reliant Energy-Orion Power MidWest | 1,500 | 158,754 |
| $157.53 | Reliant Energy-Orion Power MidWest | 1,600 | 160,354 |
| $157.50 | WPS Power Development, Inc. | 2,500 | 162,854 |
| $157.25 | Morgan Stanley Capital Group Inc. | 30,000 | 192,854 |
| $157.03 | Reliant Energy-Orion Power MidWest | 1,800 | 194,654 |
| $157.00 | CU03 GLP157 | 1 | 194,655 |
| $156.53 | Reliant Energy-Orion Power MidWest | 2,000 | 196,655 |
| $156.50 | WPS Power Development, Inc. | 2,500 | 199,155 |
| $156.25 | Morgan Stanley Capital Group Inc. | 25,000 | 224,155 |
| $156.03 | Reliant Energy-Orion Power MidWest | 2,100 | 226,255 |
| $156.00 | The Dayton Power and Light Company | 1,000 | 227,255 |
| $155.53 | Reliant Energy-Orion Power MidWest | 2,300 | 229,555 |
| $155.25 | Morgan Stanley Capital Group Inc. | 25,000 | 254,555 |
| $154.25 | Morgan Stanley Capital Group Inc. | 5,000 | 259,555 |
| $154.00 | The Dayton Power and Light Company | 2,000 | 261,555 |
| $153.50 | WPS Power Development, Inc. | 2,500 | 264,055 |
| $152.00 | The Dayton Power and Light Company | 2,000 | 266,055 |
| $151.10 | Banc One Capital Markets | 10,000 | 276,055 |
| $151.00 | PSEG Energy Resources and Trade | 2,500 | 278,555 |
| $150.00 | PSEG Energy Resources and Trade | 2,500 | 281,055 |
| $150.00 | The Dayton Power and Light Company | 2,500 | 283,555 |
| $150.00 | Coral Energy Holding, L.P. | 5,000 | 288,555 |
| $149.00 | PSEG Energy Resources and Trade | 2,500 | 291,055 |
| $148.00 | PSEG Energy Resources and Trade | 2,500 | 293,555 |
| $147.10 | Banc One Capital Markets | 10,000 | 303,555 |
| $147.00 | PSEG Energy Resources and Trade | 2,500 | 306,055 |
| $146.00 | Cleaner and Greener Program | 10 | 306,065 |
| $146.00 | PSEG Energy Resources and Trade | 2,500 | 308,565 |
| $145.25 | ABN AMRO Incorporated | 25,000 | 333,565 |
| $145.05 | Public Service Company of New Hampshire | 10,000 | 343,565 |
| $145.00 | PSEG Energy Resources and Trade | 5,000 | 348,565 |
| $144.00 | PSEG Energy Resources and Trade | 5,000 | 353,565 |
| $143.05 | Public Service Company of New Hampshire | 10,000 | 363,565 |
| $143.00 | PSEG Energy Resources and Trade | 10,000 | 373,565 |
| $142.00 | PSEG Energy Resources and Trade | 10,000 | 383,565 |
| $141.10 | Banc One Capital Markets | 10,000 | 393,565 |
| $141.00 | PSEG Energy Resources and Trade | 10,000 | 403,565 |
| $140.00 | PSEG Energy Resources and Trade | 10,000 | 413,565 |
| $140.00 | Coral Energy Holding, L.P. | 10,000 | 423,565 |
| $137.00 | PSEG Energy Resources and Trade | 20,000 | 443,565 |
| $136.00 | South Carolina Fuel Company | 20,000 | 463,565 |
| $136.00 | PSEG Energy Resources and Trade | 20,000 | 483,565 |
| $135.00 | PSEG Energy Resources and Trade | 20,000 | 503,565 |
| $131.10 | Banc One Capital Markets | 10,000 | 513,565 |
| $130.05 | Public Service Company of New Hampshire | 10,000 | 523,565 |
| $130.00 | Coral Energy Holding, L.P. | 5,000 | 528,565 |
| $125.05 | Public Service Company of New Hampshire | 10,000 | 538,565 |
| $60.00 | Coral Energy Holding, L.P. | 10,000 | 548,565 |
| $2.06 | Coral Energy Holding, L.P. | 70,000 | 618,565 |
*Awarded a partial fill of 124,971 out of 125,010 for allowances bid for.
| Bids | Bidder's Name | Quantity | Total |
|---|---|---|---|
| $92.00 | American Electric Power | 25,000 | 25,000 |
| $90.00 | American Electric Power | 25,000 | 50,000 |
| $87.00 | American Electric Power | 25,000 | 75,000 |
| $83.00 | American Electric Power | 25,000 | 100,000 |
| $80.02 | Virginia Electric & Power Co. | 10,000 | 110,000 |
| $80.00 | American Electric Power* | 25,000 | 135,000 |
Bids below this line were unsuccessful because they were below the clearing price of $80.00. |
|||
| $79.13 | The Detroit Edison Company | 500 | 135,500 |
| $77.13 | The Detroit Edison Company | 500 | 136,000 |
| $75.13 | The Detroit Edison Company | 500 | 136,500 |
| $73.13 | The Detroit Edison Company | 500 | 137,000 |
| $72.52 | Virginia Electric & Power Co. | 10,000 | 147,000 |
| $71.10 | Banc One Capital Markets | 10,000 | 157,000 |
| $68.13 | The Detroit Edison Company | 1,000 | 158,000 |
| $65.96 | NATSOURCE 271 | 1,250 | 159,250 |
| $63.13 | The Detroit Edison Company | 1,000 | 160,250 |
| $61.44 | Virginia Electric & Power Co. | 10,000 | 170,250 |
| $61.10 | Banc One Capital Markets | 10,000 | 180,250 |
| $59.00 | PSEG Energy Resources and Trade | 2,500 | 182,750 |
| $58.13 | The Detroit Edison Company | 1,000 | 183,750 |
| $57.00 | PSEG Energy Resources and Trade | 2,500 | 186,250 |
| $55.96 | NATSOURCE 271 | 1,250 | 187,500 |
| $55.00 | PSEG Energy Resources and Trade | 2,500 | 190,000 |
| $54.02 | Virginia Electric & Power Co. | 10,000 | 200,000 |
| $53.13 | The Detroit Edison Company | 1,000 | 201,000 |
| $53.00 | PSEG Energy Resources and Trade | 2,500 | 203,500 |
| $51.00 | PSEG Energy Resources and Trade | 2,500 | 206,000 |
| $50.00 | PSEG Energy Resources and Trade | 2,500 | 208,500 |
| $48.13 | The Detroit Edison Company | 5,000 | 213,500 |
| $48.00 | PSEG Energy Resources and Trade | 5,000 | 218,500 |
| $47.00 | PSEG Energy Resources and Trade | 5,000 | 223,500 |
| $46.00 | PSEG Energy Resources and Trade | 10,000 | 233,500 |
| $45.00 | PSEG Energy Resources and Trade | 10,000 | 243,500 |
| $44.00 | PSEG Energy Resources and Trade | 10,000 | 253,500 |
| $43.13 | The Detroit Edison Company | 5,000 | 258,500 |
| $43.00 | PSEG Energy Resources and Trade | 10,000 | 268,500 |
| $42.00 | PSEG Energy Resources and Trade | 20,000 | 288,500 |
| $41.00 | PSEG Energy Resources and Trade | 20,000 | 308,500 |
| $40.00 | PSEG Energy Resources and Trade | 20,000 | 328,500 |
| $30.00 | Morgan Stanley Capital Group, Inc. | 90,000 | 418,500 |
| $10.00 | NATSOURCE 271 | 20,000 | 438,500 |
*Awarded a partial fill of 15,000 out of 25,000 allowances bid for.
2003 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 |
|---|---|---|
| 205 | 10 | 10 |
| Offers | Quantity | Cumulative Total |
|---|---|---|
| 0 | 0 | 0 |
The 2003 Auction Proceeds Spreadsheet (xls) provides the same results. Download an Excel viewer.