The RGGI States held their seventh regional auction of CO2 allowances on March 10, 2010. On March 12, 2010, the RGGI Inc. released the auction results. The clearing prices for the two separate auctions for allowances:

• Current Control Period Allowances (2010 vintage): $2.07.
• Future Control Period Allowances (2012 vintage): $1.86.

$5.00 was the highest bid price for 2010 allowances. For 2013 allowances, the maximum bid was $2.06. Average bid prices for the two vintages were $2.07 and $1.94, respectively. The March auction raised approximately $88 million for the RGGI States. Since the first auction in September 2008, the states have earned over $582 million by selling RGGI allowances.

The price for current vintage allowances rose slightly in the March auction, up from $2.05 in the December 2009 auction. 2013 vintage allowances cleared at the auction reserve price of $1.86, the same price as in the December auction. However, demand for future control vintage allowances was stronger in the March auction, as nearly 98 percent of the allowances offered were sold. This is up from approximately 74 percent in the December auction. All of the 2010 vintage allowances offered were purchased by auction participants.

According to the market monitoring report produced by Potomac Economics, compliance entities purchased 85 percent of the 2010 vintage allowances. Compliance entities purchased 100 percent of the 2013 vintage allowances that were sold.

To view the RGGI Inc. press release announcing the Auction 7 results and the market monitoring report, please click here.