The RGGI state held their sixth regional auction on December 2, 2009. On December 4, RGGI, Inc. released the auction results and market monitor’s report. The clearing prices for the 2009 and 2012 vintage allowances offered during the auction were as follows:

• 2009 vintage: $2.05
• 2012 vintage: $1.86

These are the lowest clearing prices for both vintages in any auction thus far. 2012 vintage allowances cleared at the auction reserve price, due to low demand. This is the third straight auction in which prices have fallen relative to the previous clearing prices.

While all of the nearly 28.6 vintage 2009 allowances were sold, only 1.6 million (74 percent) of the approximately 2.2 million 2012 vintage allowances were awarded to participants, due to low demand. This marks the first RGGI auction where demand for allowances did not meet or exceed the supply. Demand for 2009 vintage allowances remained robust, at about 2.6 times the total supply.

Compliance entities purchased 65 percent of the 2009 allowances and 100 percent of the 2012 allowances that were sold. The auction raised about $61.6 million for the RGGI states, bringing the total revenues from the six auctions to date to nearly $500 million.

To view the RGGI, Inc. press release and the market monitor report, click here.