The Regional Greenhouse Gas Initiative (RGGI) announced today the results of the thirty-ninth quarterly auction of CO2 allowances.
All of the allowances on offer were sold at the auction held on March 14, 2018. The clearing price of $3.80 was only $0.01 lower than the previous auction held in December, but well above the clearing price of $2.20.
The March auction offered more than 13 million allowances from participating RGGI states. Bidding interest was strong with bids exceeding supply by a ratio of 2.9:1. More details on the auction are in the table below:
| Allowances on Offer | 15,553,767 |
| Allowances Sold | 15,553,767 |
| Bid/Supply Ratio | 2.9 |
| Bidders | 40 |
| Percent Compliance-Oriented | 60% |
| Clearing Price | $3.79 |
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.