The nine Northeastern and Mid-Atlantic states participating in the Regional Greenhouse Gas Initiative (RGGI), the nation’s first market-based regulatory program to reduce greenhouse gas emissions, today announced the results of their 18th auction of carbon dioxide (CO2) allowances.
19,774,000 CO2 allowances were sold at the auction, held Wednesday, December 5th, generating $38.1 million for reinvestment by the RGGI states in a variety of consumer benefit initiatives, including investments in energy efficiency, clean and renewable energy, direct bill assistance, and greenhouse gas abatement and climate change adaptation.
Bids for the CO2 allowances ranged from $1.93 to $5.14 per allowance, with a clearing price of $1.93. Allowances sold represent 53 percent of the 37,563,083 allowances offered for sale by the nine states.
According to the independent market monitor’s report, electricity generators and their corporate affiliates have won 88 percent of CO2 allowances sold in RGGI auctions since 2008. Additional details are available in the Market Monitor Report for Auction 18,
The Regional Investment of RGGI CO2 Allowance Proceeds, 2011 report found from 2009 to 2011, RGGI investments:
19,774,000 CO2 allowances were sold at the auction, held Wednesday, December 5th, generating $38.1 million for reinvestment by the RGGI states in a variety of consumer benefit initiatives, including investments in energy efficiency, clean and renewable energy, direct bill assistance, and greenhouse gas abatement and climate change adaptation.
Bids for the CO2 allowances ranged from $1.93 to $5.14 per allowance, with a clearing price of $1.93. Allowances sold represent 53 percent of the 37,563,083 allowances offered for sale by the nine states.
According to the independent market monitor’s report, electricity generators and their corporate affiliates have won 88 percent of CO2 allowances sold in RGGI auctions since 2008. Additional details are available in the Market Monitor Report for Auction 18,
The Regional Investment of RGGI CO2 Allowance Proceeds, 2011 report found from 2009 to 2011, RGGI investments:
- Channeled over $617 million into the region’s clean energy economy.
- Returned $69 million in bill credits to an estimated 84,000 low-income families.
- Generated an estimated $1.3 billion in lifetime energy bill savings for utility customers.
- Offset more than 27 million megawatt hours of electricity generation and 26.7 million BTUs of energy generation over the lifetime of investments.
The next RGGI auction is scheduled for March 13, 2013.
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