Carbon Auction Nets $106.5 Million for 10 States. By Mary Esch, AP, December 19, 2008. "The nation's second auction of carbon dioxide emissions allowances will bring $106.5 million to the 10 northeastern states in the Regional Greenhouse Gas Initiative [RGGI]. Pete Grannis, the organization's chairman, said the results prove that distributing allowances through auctions in a carbon dioxide cap-and-trade program can be successful. RGGI is seen as a blueprint for a national program to curb global warming by reducing carbon emissions. RGGI reported Friday that all 31.5 million allowances, each representing a ton of carbon, were sold in the Dec. 17 auction for a clearing price of $3.38 per allowance... The first auction, on Sept. 25, sold 12.5 million allowances at a clearing price of $3.07 each, raising nearly $38.6 million for the six RGGI states participating. All 10 states were in the second auction. [States will invest proceeds in consumer benefits: energy efficiency, renewable energy, and other clean energy technologies.]"
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