RGGI to auction 15.5 million permits on June 3

Published 07:11 on April 7, 2015  /  Last updated at 07:12 on April 7, 2015  /  Americas, US  /  No Comments

The nine RGGI states will auction 15.5 million carbon permits on June 3, according to the market regulator.

The nine RGGI states will auction 15.5 million carbon permits on June 3, according to the market regulator.

The auction will run from 9 AM until noon, according to a statement released by the regulator on Monday.

All nine states will offer permits, which will be on sale for a minimum price of $2.05 each. If the clearing price exceeds $6, an additional 10 million permits from the Cost Containment Release might be released, the statement said.

The permits currently trade in the secondary market at around $5.50.

The results of the auction will be announced on Friday, June 5.

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