Friday, June 7, 2013

38.7 Million CO2 Allowances Sold at 20th RGGI Auction

CO2 Allowances Sold at $3.21
The nine Northeastern and Mid-Atlantic states participating in the Regional Greenhouse Gas Initiative (RGGI), the nation’s first market-based regulatory program to reduce greenhouse gas pollution, today announced the results of their 20th auction of carbon dioxide (CO2) allowances.
38,782,076 CO2 allowances were sold at the auction, held Wednesday, June 5, 2013, at a clearing price of $3.21. The auction generated $124.4 million for reinvestment by the RGGI states in a variety of consumer benefit initiatives, including energy efficiency, renewable energy, direct bill assistance, greenhouse gas abatement, and climate change adaptation programs.

Allowances sold represent 100 percent of the allowances offered for sale by the nine states. Bids for the CO2 allowances ranged from $1.98 to $5.55 per allowance.

According to the independent market monitor’s report, electricity generators and their corporate affiliates have won 86 percent of CO2 allowances sold in RGGI auctions since 2008. Additional details are available in the Market Monitor Report for Auction 20.

With twenty auctions completed, RGGI continues to generate hard data showing that market-based emission reduction programs are an effective way to realize environmental goals, save consumers money, and create jobs. 

The next RGGI auction is scheduled for September 4, 2013. (RGGI)

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