Wednesday, April 01, 2015

CO2 Allowances Sold for $5.41 in 27th RGGI Auction

Total Proceeds for Reinvestment Now Exceed $2 Billion
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 (GHG) pollution, today announced the results of their 27th auction of carbon dioxide (CO2) allowances. The March 11th auction was the first auction of 2015.

15,272,670 CO2 allowances were sold at the auction at a clearing price of $5.41. Allowances sold represent 100 percent of the CO2 allowances offered for sale by the nine states. Bids for the CO2 allowances ranged from $2.05 to $12.50 per allowance. Additional details are available in the Market Monitor Report for Auction 27.
10 million cost containment reserve (CCR) allowances were also available for sale. None of the CCR allowances were sold. The CCR is a fixed additional supply of allowances that are only available for sale if CO2 allowance prices exceed certain price levels ($6 in 2015, $8 in 2016, $10 in 2017, and rising by 2.5 percent each year thereafter to account for inflation). The 10 million CCR allowances remain available for sale in 2015.
The auction generated more than $82 million for reinvestment in strategic energy and consumer benefit programs, including energy efficiency, renewable energy, direct bill assistance, and GHG abatement programs. Cumulative proceeds from all RGGI CO2 allowance auctions now exceed $2 billion dollars.
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Auction 27 Results At-A-Glance
Auction DateMarch 11, 2015
Allowances Offered for Sale15,272,670
Allowances Sold15,272,670
Ratio of Bids to Initial Supply2.8
Clearing Price$5.41
Reserve Price$2.05
Proceeds from Auction 27$82,625,144.70
Total Cumulative Proceeds (All Auctions)$2,017,671,088.75
Number of Bidders in Auction 2745
Percent of Allowances Purchased by Compliance Entities & their Corporate Affiliates in Auction 27100%
Percent of Allowances Purchased by Compliance Entities & their Corporate Affiliates in Auctions 1-2778%
More data is also available at:

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