The Regional Greenhouse Gas Initiative (RGGI) has announced the results of its 13th quarterly auction of carbon dioxide (CO2) allowances. The auction marks three years since RGGI's launch.
Of the 42,189,685 current control-period (2009-2011) CO2 allowances offered for sale by the 10 participating states, 7,487,000 (17.75%) were sold. The auction clearing price was $1.89 per allowance, the minimum reserve price for the auction. Thirty-one entities submitted winning bids, with bids ranging from $1.89 to $5.18. Electric generators and their corporate affiliates purchased 94% of the current control-period allowances sold.
The participating states of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island and Vermont also offered a smaller number of CO2 allowances for a future control period (2012-2014). None of the future control-period allowances offered in the auction was sold.
‘The result of Wednesday's auction is consistent with the reduced emissions across the RGGI region as we near the end of the first compliance period,’ says David Littell, a commissioner of the Maine Public Utilities Commission and chair of RGGI's board of directors. ‘State investments in energy efficiency, together with other factors, have helped to reduce emissions in RGGI states.’
The next RGGI auction is scheduled for Dec. 7.