27th RGGI auction brings $5.41 per CO2 allowance

The nine states that participate in the Regional Greenhouse Gas Initiative (RGGI) announced the results of their 27th CO2 allowance auction, which was held on March 11.

RGGI said March 13 that more than 15.72 million allowances were sold at the auction at a clearing price of $5.41. Allowances sold represent 100% of the CO2 allowances offered for sale by the nine Northeast and Mid-Atlantic 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, which can be found on the RGGI website.

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 is allowance prices exceed $6 in 2015.