The Regional Greenhouse Gas Initiative (RGGI) reports that approximately 21.56 million carbon dioxide (CO2) allowances were sold in its 15th quarterly auction on March 14. The auction was the first of RGGI's second three-year control period.
Bids for current control period (2012-2014) CO2 allowances ranged from $1.93 to $5.36 per allowance, with a clearing price of $1.93 – the minimum reserve price for the auction. Allowances sold represented 62% of the approximately 34.84 million allowances offered for sale by the nine states.
The auction generated a total of $41.6 million in proceeds, which the states will continue to invest in a variety of consumer benefit initiatives.
The next RGGI auction is scheduled for June 6.