RGGI issues notice for CO2 Auction 33 in September

The Regional Greenhouse Gas Initiative (RGGI) recently released its notice and materials for its 33rd carbon dioxide (CO2) allowance auction, which is scheduled Sept. 7.

The RGGI states offering CO2 allowances for sale include Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont. RGGI issues its notice on July 11.

Auction 33 is scheduled to take place from 9:00 AM ET until 12:00 PM ET on Wednesday, Sept. 7. After the auction, the auction “clearing price” should be posted on Sept. 9, according to the RGGI material.

Parties must submit a qualification application and intent to bid by July 27. The auction manager will send qualification status to each applicant on Aug. 23.

The auction format also includes the Cost Containment Reserve (CCR). The CCR contains a number of CO2 allowances in addition to the Initial Offering, which under certain circumstances, will be offered for sale.

The CCR for calendar year 2016 is 10 million allowances. All 10 million CCR allowances are available in Auction 33.The CCR Trigger Price for 2016 is $8.00 per CO2 allowance.

RGGI is a cooperative effort by participating states to reduce CO2 emissions. The Environmental Protection Agency (EPA) has called RGGI a model for regional allowance trading under the Clean Power Plan.

EnerNOC serves as the auction manager for RGGI. Contact information is the auction manager is Phone: 800.578.0718; Email: auctionmanager@enernoc.com.

About Wayne Barber 4201 Articles
Wayne Barber, Chief Analyst for the GenerationHub, has been covering power generation, energy and natural resources issues at national publications for more than 20 years. Prior to joining PennWell he was editor of Generation Markets Week at SNL Financial for nine years. He has also worked as a business journalist at both McGraw-Hill and Financial Times Energy. Wayne also worked as a newspaper reporter for several years. During his career has visited nuclear reactors and coal mines as well as coal and natural gas power plants. Wayne can be reached at wayneb@pennwell.com.