The Regional Greenhouse Gas Initiative (RGGI) announced today the results of the thirty-eighth quarterly auction of CO2 allowances.
All of the allowances on offer were sold at the auction held on December 6, 2017. The clearing price of $3.80 was $0.55 lower than the previous auction held in September, but well above the clearing prices of the first and second quarter auctions. This was the second auction since RGGI released its Program Review in August, which proposed a 30% cut in emissions allocations.
The December auction offered more than 14 million allowances from participating RGGI states. Bidding interest was strong with bids exceeding supply by a ratio of 2.2:1. More details on the auction are in the table below:
Auction 38 Statistics
|Allowances on Offer
For more information on RGGI allowance markets or to transact in the market, contact our U.S. Carbon and Emissions Markets desks at: +1 914.323.0255.