North American Windpower: RGGI Auction Generates $106 Million For Renewable Energy, Environmental Programs

RGGI Auction Generates $106 Million For Renewable Energy, Environmental Programs

by NAW Staff on Tuesday 19 March 2013

The nine states participating in the Regional Greenhouse Gas Initiative (RGGI) have announced the results of their 19th auction of carbon dioxide (CO2) allowances.

At the latest auction, held March 13, over 37.8 million CO2 allowances were sold, at a clearing price of $2.80. The auction generated $105.9 million that will be reinvested in renewable energy, energy efficiency and climate-change-adaptation programs, among other initiatives.

All of the allowances offered for sale were sold. Bids for the CO2 allowances ranged from $1.98 to $5.03 per allowance. According to the independent market monitor’s report, electricity generators and their corporate affiliates have won 88% of CO2 allowances sold in RGGI auctions since 2008.

Additional details are available here.

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