The Regional Greenhouse Gas Initiative (RGGI) announced today the results of the nineteenth quarterly auction of CO2 allowances under the regulatory program. All of the allowances on offer were sold at the auction, which was held on March 13, 2013. The clearing price was $2.80, above the auction floor price of $1.98.
This was the first RGGI allowance auction since March 2011 in which all allowances on offer were sold. In addition, the last time a RGGI auction cleared at a price higher than the auction floor price was June 2010.
The March auction is the first auction conducted since RGGI announced proposed changes for the next phase of the program, which included a shave in the supply of allowances of nearly 45%.
The auction of allowances for the current control period saw an increase in bidders compared with the last auction, with 42 entities participating compared to 34 bidders in March. More details on the auction are in the table below:
| Auction 19 Statistics | |
| Allowances on Offer | 37,835,405 |
| Allowances Sold | 37,835,405 |
| Bid/Supply Ratio | 2.23 |
| Bidders | 42 |
| Percent Compliance | 72% |
| Clearing Price | $2.80 |
For more information on RGGI allowance markets or to transact in the market, contact our U.S. Carbon and Emissions Markets desks at: +1 914.323.0265 or +1 914.323.0255.