RGGI Carbon Auction Signals Steady Market Defying COVID-19 Impacts

EnerKnol’s Visual Primer – RGGI Carbon Auction Signals Steady Market Defying COVID-19 Impacts

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Prices in the 10-state Regional Greenhouse Gas Initiative’s latest carbon auction rose to the highest since 2015, defying impacts from the COVID-19 pandemic as two more states gear up to join the initiative. Meanwhile, revenues from California’s post-pandemic auction tumbled to $25 million, less than 5 percent of the previous auction proceeds, pointing to a need for reforms for predictable outcomes and a long-term strategy to fund climate programs.