U.S. Northeast Carbon-Offset Sale Raises a Record $124.5 Million
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Regional Greenhouse Gas Initiative Inc., the nonprofit that administers the U.S. Northeast’s greenhouse-gas emissions program, raised a record $124.5 million in its quarterly auction of carbon allowances after slashing next year’s supply by almost half.
RGGI sold all of the 38.8 million allowances that were offered at a clearing price of $3.21, up from $2.80 in March and the first time in the program’s history that prices increased in two consecutive quarters, the New York-based group said today in a statement on its website.