The nine Northeastern and Mid-Atlantic states participating in the Regional Greenhouse Gas Initiative (RGGI) have announced the results of their 21st auction of carbon dioxide (CO2) allowances.
At the auction held Sept. 4, 38.4 million CO2 allowances were sold, generating $102.5 million for reinvestment by the RGGI states in a variety of consumer benefit initiatives, including investments in clean energy, energy efficiency, direct bill assistance, greenhouse-gas abatement and climate-change adaptation. RGGI notes the auction marks five years since its start in 2008.
Bids for the CO2 allowances ranged from $1.98 to $12.85 per allowance, with a clearing price of $2.67. Allowances sold represent 100% of the allowances offered for sale by the nine states.
The next RGGI auction is scheduled for Dec. 4, 2013.