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RGGI auction allowances beat reserve price

The first Regional Greenhouse Gas Initiative (RGGI) auction in the US on September 25 attracted 59 bidders, with allowances selling out for $3.07 each - more than $1 over the reserve price of $1.86.

Participants from the energy, financial and environmental sectors submitted bids for 12.5 million allowances (a limited permission to emit one ton of carbon dioxide) in the first quarterly auction held

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