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.