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RGGI 22nd Auction Results

RGGI Carbon Auction Raises $114.9 Million

RGGI 22nd Auction ResultsNine northeastern US states raised $114.9 million in the Regional Greenhouse Gas Initiative’s (RGGI) most recent carbon auction.

The 22nd RGGI auction, held Dec. 4, sold out of carbon allowances, selling some 38.3 million CO2 allowances at a clearing price of $3. Bids for the CO2 allowances ranged from $1.98 to $12 per allowance.

The participating states will use the money generated to reinvest in energy efficiency, renewable energy and greenhouse gas emissions abatement programs.

The previous carbon auction, held in September, raised $102.5 million. Cumulative proceeds from all RGGI CO2 allowance auctions since 2008 total $1.5 billion dollars.

According to the independent market monitor’s report, electricity generators and their corporate affiliates have won 81 percent of CO2 allowances sold in RGGI auctions since 2008.

The nine RGGI states last week submitted comments recommending that the EPA use RGGI as a guide for upcoming national carbon reduction guidelines for existing power plants.

 

 

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