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December 22, 2008

Maine nets $3M in 2nd RGGI auction

By The Mainebiz News Staff

Maine raised nearly $3 million in the nation's second carbon auction, which took place last week, according to a press release from the Regional Greenhouse Gas Initiative.

The 10 northeastern states participating in the auction -- Maine, Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont -- raised $106.5 million from the sale of 31.5 million carbon dioxide emissions allowances to 69 bidders from the energy, financial and environmental sectors, the press release said. The allowances sold for $3.38 apiece. Maine sold 872,506 allowances at the auction.

The first RGGI auction took place Sept. 25 and raised nearly $38.6 million for the six states that offered CO2 allowances for sale. Maine's share of the first auction was $2.7 million. The states will use the funds for energy efficiency and clean energy technologies. For more on what Maine will do with the funds, read "Creditworthy" from the Nov. 3 issue of Mainebiz.

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