March 02, 2010

By Jennifer Cassel

On March 10, 2010, the Regional Greenhouse Gas Initiative (“RGGI”), comprised of Connecticut, Delaware, Massachusetts, Rhode Island, Maine, Maryland, Vermont, New Jersey, New York, and New Hampshire, held its seventh auction of carbon dioxide (CO2) emission allowances.  RGGI reported on March 12 that all 40.6 million CO2 allowances available for immediate use were sold for a clearing price of $2.07 per allowance, up from $2.05 at the previous RGGI auction last December.  Approximately two million allowances available for use after 2012 also were sold at the March 10, 2010, auction for a clearing price of $1.86 per allowance.  The auction raised approximately $88 million, increasing the total proceeds from all seven auctions to $582 million. 

More information on the seventh RGGI auction is available at