RGGI Carbon Auction Raises More Than $94M
The nine Northeastern and Mid-Atlantic states participating in the Regional Greenhouse Gas Initiative generated more than $94 million at their most recent carbon auction.
RGGI’s 26th auction sold out of more than 18.2 million CO2 allowances at a clearing price of $5.21 per ton. The price is higher RGGI’s previous carbon auction, which sold more than 18 million CO2 allowances at $5.02 per ton.
The money raised will be reinvestment by the RGGI states in a variety of consumer benefit initiatives, including energy efficiency, renewable energy, direct bill assistance and greenhouse gas abatement programs.
Cumulative proceeds from all RGGI CO2 allowance auctions currently total $1.9 billion.
All 33.8 million carbon allowance sold out at California and Quebec’s first joint carbon auction, held Nov. 25, which raised about $407 million.
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