RGGI Declares Initial Carbon Auction a Promising Start. Press Release, RGGI.org, September 29, 2008. "The states participating in the Regional Greenhouse Gas Initiative (RGGI) today announced that the auctioning of carbon dioxide (CO2) emissions allowances in North America is off to a strong start. All of the 12,565,387 allowances offered for sale on September 25, 2008 were sold at a clearing price of $3.07 per allowance. RGGI, Inc. reported that 59 participants from the energy, financial and environmental sectors took part in the first-in-the-nation auction, indicating a strong start in the first of many CO2 allowance auctions. The demand for the allowances appeared to have been very strong with a total of quantity of 51,761,000 allowances demanded which was four times available supply for this first auction. The $38,575,783 in proceeds produced from the auction will be distributed to Connecticut, Maine, Maryland, Massachusetts, Rhode Island and Vermont, the six RGGI states that offered allowances for sale during the first auction. The states are investing those funds in energy efficiency and renewable energy technologies, and programs to benefit energy consumers. 'The 10 RGGI states have demonstrated great leadership in coming together to offer this first carbon cap-and-trade system, and the smooth completion of the initial auction is proof that the RGGI is leading the nation in the battle against climate change,' said Pete Grannis, Commissioner of the New York State Department of Environmental Conservation and Chair of the Region Greenhouse Gas Initiative, Inc. 'RGGI's example shows that an open and competitive carbon market can be implemented.'"
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment