News Release and Market Monitor Report Now Available at:
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 17th auction of carbon dioxide (CO2) allowances.
24,589,000 carbon dioxide (CO2) allowances were sold in the auction, held Wednesday, September 5th generating $47.4 million for reinvestment by the RGGI states in energy efficiency, clean and renewable energy, direct bill assistance, and other consumer benefit programs across the region. These investments in the region’s energy future are creating jobs, reducing energy bills, helping businesses become more competitive, accelerating the development of local clean and renewable energy, and limiting the release of harmful pollutants.
Bids for the CO2 allowances ranged from $1.93 to $6.51 per allowance, with a clearing price of $1.93, the minimum reserve price for the auction. Allowances sold represent 65 percent of the 37,949,558 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 17.
The next RGGI auction is scheduled for December 5, 2012.
| Auction 17 Results At-A-Glance | |
| Auction Date | September 5, 2012 |
| Allowances Offered for Sale | 37,949,558 |
| Allowances Sold | 24,589,000 |
| Ratio of Bids to Supply | 0.65x |
| Clearing Price | $1.93 |
| Reserve Price | $1.93 |
| Proceeds from Auction 17 | $47,456,770.00 |
| Total Cumulative Proceeds (All Auctions) | $1,081,624,938.19 |
| Number of Bidders in Auction 17 | 22 |
| Percent of Allowances Purchased by Compliance Entities & their Corporate Affiliates in Auction 17 | 100% |
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