Greenhouse gas sold for $3.07 a ton - NewsTimes.com
ALBANY, N.Y.—The nation's first cap-and-trade greenhouse gas auction has sold the right to pump carbon dioxide into the atmosphere at $3.07 a ton.Sept 23: Bloomberg.com: Worldwide
The results of Thursday's sealed bid Regional Greenhouse Gas Initiative auction were released Monday. All 12.5 million allowances were sold and 59 bidders representing energy, financial and environmental interests participated.
The online auction is viewed as a model for a national cap-and-trade program to reduce emissions of carbon dioxide, blamed for global climate change.
The 10-state RGGI consortium includes Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont. All power plants in the region must buy credits to cover the carbon they emit.
Permit prices in the U.S., as reflected by early trading in derivatives, have fluctuated from $4.50 to $7 for a ton of emissions, making the annual supply worth about $1.1 billion using the average price. That compares with about 25.35 euros ($37) for a permit in Europe, manager of the world's biggest greenhouse gas- trading system.Free Carbon Offsets - Home
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