The Regional Greenhouse Gas Initiative (RGGI) announced today the results of the thirty-seventh quarterly auction of CO2 allowances.
All of the allowances on offer were sold at the auction held on September 6, 2017. The clearing price was $4.35, which is the highest clearing price since the September 2016 auction. This was the first auction since RGGI released its Program Review in August, which proposed a 30% cut in emissions allocations.
The September auction offered more than 14 million allowances from participating RGGI states. Bidding interest was strong with bids exceeding supply by a ratio of 2.7:1. More details on the auction are in the table below:
| Allowances on Offer | 14,371,585 |
| Allowances Sold | 14,371,585 |
| Bid/Supply Ratio | 2.7 |
| Bidders | 50 |
| Percent Compliance-Oriented | 38% |
| Clearing Price | $4.35 |
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.