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On September 9, RGGI announced the results of its 33rd Allowance Auction. The clearing price was $4.54, which is $0.01 higher than the last auction held on June 1, 2016. RGGI Prices have reached a high of $5.90 and a low of $4.50 since the June auction. RGGI prices were increasing steadily until the unexpected Supreme Court ruling on February 9 to stay President Obama’s Clean Power Plan Rule
On September 7th, the U.S. Environmental Protection Agency (EPA) finalized an update to the Cross-State Air Pollution Rule (CSPAR) Seasonal NOx Program. Starting May 2017, the final rule will reduce seasonal NOx allocations by approximately 48%. The final rule covers 22 states and includes an allowance trading program for implementation. The rule also allows Georgia to voluntarily opt into the state trading program
RGGI Prices have been quite volatile since the last RGGI Auction, which cleared $4.53 on June 1, 2016. Since then, the price climed to $5.90 by the end of June, but retreated down to $4.38 by mid July