Since September 2008, proceeds from RGGI auctions have totaled $729,281,959, over 80 percent of which is being invested in strategic energy programs to benefit consumers and build a clean energy economy.

The offering of current control period CO2 allowances (2009-2011) in Wednesday’s auction yielded a total of $63,997,020 from the sale of 34,407,000 allowances. Over 75 percent of allowances offered for sale were sold. The auction clearing price was $1.86 per allowance, the reserve price for the auction. Forty-five entities submitted winning bids, with bids ranging from $1.86 to $3.00. Electric generators and their corporate affiliates purchased 92 percent of the total number of current control period allowances sold.

States also offered a smaller number of CO2 allowances for a future control period (2012-2014). The offering of future control period CO2 allowances yielded a total of $2,440,320 from the sale of 1,312,000 allowances. Over 61 percent of future control period allowances offered for sale were sold. The auction clearing price was $1.86 per allowance. Six bidders submitted winning bids, with bids ranging from $1.86 to $1.92. Electric generators and their corporate affiliates purchased 100 percent of the total number of future control period allowances sold.

As they have for previous auctions, the participating states released the report of the independent market monitor, which contains aggregate auction results and a list of all qualified auction participants that submitted their intent to bid in the auction. According to the market monitor’s report for Auction 9, electric generators and their corporate affiliates have won 84 percent of all CO2 allowances sold in Auctions 1-9 and will hold 95 percent of CO2 allowances in circulation following the settlement of allowances sold in Auction 9. Additional details may be found in the Market Monitor Report for Auction 9, available at: http://www.rggi.org/docs/Auction_9_News_Release_MM_Report.pdf.

“RGGI auctions continue to set an example for the nation," said David Littell, a Commissioner of the Maine Public Utilities Commission and Chair of the RGGI, Inc. Board of Directors. "Nine successful CO2 auctions have delivered allowances to the power plants that need them for compliance and enabled states to return millions of dollars to consumers through investments in energy savings and clean energy."

The quarterly CO2 allowance auctions are just one component of a program that regulates CO2 emissions from 209 power plants across 10 states. The RGGI participating states have also built an interactive online emissions and allowance tracking system to track, record, and publicly report RGGI program data and market activity, including CO2 emissions from regulated power plants and CO2 allowance transactions among market participants.

RGGI shows how a market-based program to reduce greenhouse gas emissions can help build a clean energy economy. Overall, RGGI participating states are investing 60 percent of proceeds from RGGI CO2 allowance auctions to improve energy efficiency; 10 percent to accelerate the deployment of renewable energy technologies; and an additional 10 percent to provide direct consumer benefits, including energy bill payment assistance to low-income ratepayers.

These investments generate significant energy and cost savings for consumers across the region.

“RGGI state investments in efficiency and renewable energy sources provide triple benefits -- to the environment, consumers and the economy," said Shari Wilson, Secretary of the Maryland Department of the Environment. "By leveraging federal, state, and private investments, the investments made with RGGI proceeds in Maryland this year will save families and businesses more than $125 million, while creating 630 new green collar jobs."

“New Hampshire’s investment of RGGI auction proceeds in energy efficiency has created or helped retain more than 700 jobs across the state," said Clifton Below, a Commissioner of the New Hampshire Public Utilities Commission. "The growing demand for energy auditors, HVAC technicians and energy-efficiency contractors is building a green workforce and serving as an engine for economic growth in our state."

“In 2009, energy efficiency programs, funded in part by RGGI, saved enough electricity to power more than 313,000 homes for a year," said Amey Marrella, Commissioner of the Connecticut Department of Environmental Protection. "Over the life of these efficiency projects, the people of our state will save more than $533 million in energy costs -- a very impressive figure."

“New York State’s investment of RGGI proceeds is helping to reduce energy costs today while building a clean energy economy for the future," said Francis J. Murray Jr., President and CEO of NYSERDA. "These funds will help New York create new financing options to expand energy efficiency programs for households and small businesses, support workforce training and create jobs in the clean energy sector. Through our Green Jobs\Green NY initiative, we are partnering with community-based organizations to encourage activities at the local level to reduce the emissions of greenhouse gases, which will benefit our environment for years to come."

“Expanded efficiency programs, funded in part by RGGI, will generate roughly $6 billion in consumer energy savings in Massachusetts over the next three years," said Phil Giudice, Commissioner of the Massachusetts Department of Energy Resources. "The same programs will also avoid more than 15 million tons of CO2 pollution across our state."

RGGI’s "auction and invest" design provides a model for a national program to reduce greenhouse gas emissions. Innovative aspects of RGGI, including allowance auctions and strategic reinvestment of auction proceeds, are serving as a model for Congressional proposals, as well as other regional market-based climate protection programs, including the Western Climate Initiative (WCI) and the Midwest Greenhouse Gas Reduction Accord (MGGRA).

“In the absence of federal legislation, the states will continue to implement market-based programs as a part of a broader climate action agenda," said Justin Johnson, Commissioner of the Vermont Department of Environmental Conservation. "RGGI states look forward to continued collaboration with the Western Climate Initiative, and other jurisdictions, to share best practices for the implementation of CO2 allowance auctions and other program components."

To learn more about how each state is investing RGGI auction proceeds, please visit: http://www.rggi.org/rggi_benefits/program_investments.

The next RGGI auction is scheduled for December 1, 2010. All parties are eligible to participate. Information is available at http://www.rggi.org/market/co2_auctions/information.