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Carbon Market Monitor Releases Report

No evidence of anti-competitive conduct has been found in the market for Regional Greenhouse Gas Initiative (RGGI) CO2 allowances, according to the independent market monitor’s 2013 report.

Annual Report on the Market for RGGI CO2 Allowances, by Potomac Economics, evaluates activity in the market for RGGI CO2 allowances in 2013, focusing on allowance prices, trading and acquisition of allowances in the auctions and secondary market, participation in the market by individual firms, and market monitoring.

It finds no material concerns regarding the auction process, barriers to participation in the auctions, competitiveness of the auction results, or the competitiveness of the secondary market for RGGI allowances.

According to the independent market monitor, the average auction clearing price was $2.92 in 2013. Secondary market prices were generally consistent with auction clearing prices, increasing throughout the first quarter, plateauing at an average of $3.41 in the second quarter, falling steadily during the third quarter, and rising again through the fourth quarter.

Carbon emissions in the region were down for a third straight year, to 86 million short tons in 2013 from 92 million tons in 2012.

In March, RGGI released information for CO2 allowance allocation year 2015, placing the cap for the nine-state RGGI region at 88.7 million short tons.

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