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industrial plant emissions

RGGI Carbon Auction Brings In $87.8 Million

industrial plant emissionsAlmost 18 million carbon allowances sold for $4.88 at the Regional Greenhouse Gas Initiative’s carbon auction on Sept. 3.

The clearing price is slightly lower than that of the previous carbon auction, at which allowances sold for $5.02.

The most recent allowances sold represent 100 percent of the allowances offered for sale by the nine Northeastern and Mid-Atlantic participating states.

The auction generated $87.8 million for 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 25 RGGI carbon auctions currently total $1.8 billion dollars.

According to the independent market monitor’s report, electricity generators and their corporate affiliates have won 78 percent of CO2 allowances sold in RGGI auctions since 2008.

Photo Credit: industrial plant emissions via Shutterstock

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