The Regional Greenhouse Gas Initiative (RGGI) announced today the results of the twenty-fifth quarterly auction of CO2 allowances under the regulatory program.
All of the allowances on offer, which include CO2 allowances from allocation year 2014 and earlier, were sold at the auction held on September 03, 2014. The clearing price was $4.88, below the record high $5.02 clearing price for the last auction held in June.
The September auction offered nearly 18 million allowances from participating RGGI states. Bidding interest was strong withbids exceeding supply by more than two times. While the last auction had one of the lowest percentages of allowances purchased by compliance entities (55%), the September auction reverted to form with compliance entities purchasing 80% of allowances on offer.
More details on the auction are in the table below:
| Allowances on Offer | 17,998,687 |
| Allowances Sold | 17,998,687 |
| Bid/Supply Ratio | 2.5 |
| Bidders | 43 |
| Percent Compliance | 80% |
| Clearing Price | $4.88 |
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.