The Regional Greenhouse Gas Initiative (RGGI) announced today the results of the twentieth quarterly auction of CO2 allowances under the regulatory program.
All of the allowances on offer, which include CO2 allowances from allocation year 2013 and earlier, were sold at the auction held on June 05, 2013. The clearing price was $3.21, above the $2.80 clearing price for the last auction held in March and the highest clearing price since the fourth RGGI auction in June 2009.
As with the last auction, all allowances on offer were sold. In fact, 47 entities submitted bids to purchase 2.1 times the available supply of allowances. 68% of successful bidders in the June auction were compliance entities, this is the smallest percentage since the sixth auction held in December 2009.
The June auction is the second 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%.
More details on the auction are in the table below:
| Allowances on Offer | 38,782,076 |
| Allowances Sold | 38,782,076 |
| Bid/Supply Ratio | 2.1 |
| Bidders | 47 |
| Percent Compliance | 68% |
| Clearing Price | $3.21 |
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.