RGGI allowances hit highest point at $4

The cost to emit carbon dioxide in the U.S. Northeast rose by one-third this month after the region’s cap-and-trade program revised its rules to cut the supply of permits, Bloomberg News reported. More

To continue reading this article, please do one of the following.



energy

RGGI allowances hit highest point at $4

Posted 3/17/14

The cost to emit carbon dioxide in the U.S. Northeast rose by one-third this month after the region’s cap-and-trade program revised its rules to cut the supply of permits, Bloomberg News reported.

Regional Greenhouse Gas Initiative Inc. auctioned 23.4 million allowances for $4 each at its March event, up from $3 in December, according to a statement posted last week on the New York-based nonprofit group’s website. This was the first event under new rules that were announced in February 2013 and took effect this year.

The $4 clearing price is the highest since the group began auctioning allowances in September 2008, and many of the quarterly events failed to exceed the minimum bid. Critics said that indicated that the market wasn’t working, including New Jersey Gov. Chris Christie, who called it a failure when he pulled the state out in 2011. RGGI cut the supply of permits 45 percent this year in an effort to drive up prices.

The sale generated proceeds of about $94 million, compared with $115 million in December when about 63 percent more allowances were sold.

RGGI comprises the six New England states, New York, Delaware and Maryland. •

Calendar
PBN Hosted
Events

Join PBN and two panels of successful female executives, business owners and entrepreneurs as we delve into what women should do to advance their careers, and become leaders in the corporate world and their own enterprises.
  • Book of Lists Party
    Save the date - January 15, 2015 for PBN's Book of Lists Party at the Providence ...
  • Best Places to Work
    Enrollment is now open for the 7th annual Best Places to Work program. Winners w ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement