RGGI allowances reach $3.38 clearing price

Regional Greenhouse Gas Initiative (RGGI) allowances sold at a clearing price of $3.38 at the scheme's second pre-compliance auction on 17 December 2008.

The 10 states participating in the scheme published the results of the second auction today, showing all of the 31,505,898 allowances offered were bought at a clearing price of $3.38 per allowance. A total of 69 participants from the energy, financial and environmental sectors took part and demand was 3.5 times available supply.

The proceeds of $106.5m will be distributed to the member states (Connecticut, Delaware, Maine Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island

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