Posted By Environmental Leader On March 12, 2010 @ 10:25 am In Carbon Finance & Offsets, Carbon Offsets/RECs, Emissions, Feature, Finance & Reporting
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Trading of carbon permits under the Regional Greenhouse Gas Initiative rose 42 percent in the most recent trading session.
More than 40.612 million allowances were auctioned [1] March 10, up from 28.591 million allowances sold Dec. 2 [2].
This, the seventh such auction, brought a price of $2.07 for permits and $1.86 for futures. That compares to $2.05 for permits and $1.86 for futures in December, which was about 6 percent lower than the September auction [3], which netted $2.19 per ton.
In the June 2009 auction [4], the average price was $3.23 per allowance.
Each permit represents a metric ton of emissions.
To date, the auction has generated $582.38 million in proceeds. Ten states – Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont – participate in the auction.
The slight gain in prices brought relief to carbon traders, reports Reuters [5].
In other emissions trading news, carbon exchange operator the Climate Exchange has showed its first pretax profit, reports Reuters [6].
Climate Exchange made $3.3 million in 2009, whereas in 2008 it posted a loss of more than $3 million.
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