The Regional Greenhouse Gas Initiative (RGGI) announced today the results of the thirty-fifth quarterly auction of CO2 allowances under the regulatory program.
All of the allowances on offer were sold at the auction held on March 8, 2017. The clearing price was $3.00, which is the lowest clearing price since the 22nd Auction held in December 2013, which also cleared at $3.00.
The March auction offered more than 14 million allowances from participating RGGI states. Despite the low price relative to recent auctions, bidding interest was strong with bids exceeding supply by a ratio of 2.2:1. Compliance-oriented entities purchased 34% of the allowances on offer. More details on the auction are in the table below:
|Allowances on Offer||14,371,300|
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.