Only 55% of the approximately 43.4 million Vintage 2009 and 2010 allowances offered during the 10th RGGI auction were sold . The auction of allowances for the first RGGI compliance period sold for the clearing price of $1.86, the auction reserve price. For reference, Vintage 2010 allowances closed yesterday at $1.89. These results mirror the last quarterly RGGI auction in September, where Vintage 2010 allowances cleared at the auction reserve price of $1.86.
The auction also offered for sale allowances for the future control period (2012-2014). Only 55% of the Vintage 2013 allowances, or approximately 1.2 million, were sold. The clearing price for the Vintage 2013 allowances was also the auction reserve price of $1.86.
The Vintage 2009/2010 auction saw a decrease in participation relative to the last auction with 38 bidders compared to 45 bidders in September. Bids were submitted for only 0.57 times the available supply, compared to .75 times for the 9th RGGI auction in September. The Vintage 2013 auction also saw a decrease in participation. Only four participants bid on Vintage 2013 allowances, compared to six in the previous auction.
As with the previous auction, compliance entities dominated the bidding, contributing 97% of the bids in the Vintage 2009/2010 auction and 100% of the bids in the Vintage 2013 auction.
The market is expected to be oversupplied by approximately 40-50 million allowances compared to actual emissions, leading once again to the lowest possible clearing price at the auction.
|Auction 9 Stats||Vintage 2010||Vintage 2013|
For a complete view of past RGGI Auction results, click the links below.