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The fourth auction for carbon-emissions allowances under the Regional Greenhouse Gas Initiative — a regional cap-and-trade program — generated $4.7 million in proceeds for the state of Connecticut for energy efficiency and renewable energy projects.
Wednesday’s auction allocated some 30.8 million credits — allowances to emit specified amounts of carbon dioxide — in energy production worth a total of $104.2 million. Some 54 energy generators and other entities bid on the credits, according to a report released by program administrator RGGI Inc. The credits are good for energy generation between 2009 and 2011.
The clearing price of those credits was $3.23 per unit, down from $3.51 in the March auction.
An auction for allowances for the second three-year control period, beginning 2012 and ending 2014, allocated 2.2 million credits at a price of $2.06.
The proceeds are divided among the 10 participating Northeast states in the program based on how many carbon credits the states allocate. Connecticut’s share will fund the renewable energy programs of the Connecticut Clean Energy Fund and utility-sponsored energy efficiency programs.
“By taking the national lead to combat climate change, we have ensured that we will have the resources both to reduce our demand for fossil fuel and speed the development of clean energy sources and our green jobs work force,” Gov. M. Jodi Rell said in a statement.
In total, RGGI states have auctioned more than 110 million allowances and raised a total of $366.5 million. Connecticut has received a total of $18.7 million in the auctions.
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