The vast majority of CO2 allowances issued by each RGGI state are distributed through quarterly, regional CO2 allowance auctions.
Proceeds from the auctions are returned to the RGGI states and have been primarily invested in consumer benefit programs: energy efficiency, renewable energy, direct energy bill assistance, and other greenhouse gas reduction programs.
The RGGI states utilize an online auction platform to offer and sell CO2 allowances. The CO2 allowance auctions are conducted in accordance with the statutory and/or regulatory authority of each state offering CO2 allowances for sale in that auction.
The quarterly regional auctions are open to all qualified participants. For more details on the qualification/application process and related materials, see the Auction Materials page. The Auction Notice for each auction provides an overview of the allowances offered in that auction, key dates and milestones, and other relevant auction-specific information.
The RGGI CO2 Allowance Tracking System (RGGI COATS) is the platform that records and tracks data for each state's CO2 Budget Trading Program, including the transfer of CO2 allowances that are offered for sale by the states and purchased by the winning qualified bidders in the quarterly auctions. RGGI COATS also facilitates participation in the secondary CO2 allowance market and enables the public to view and download reports of RGGI data and CO2 allowance market activity. For details on RGGI COATS, visit the COATS page.
Potomac Economics, an independent market monitor, monitors the performance and efficiency of the RGGI CO2 allowance auctions and the secondary CO2 allowance market. The market monitor releases reports immediately following each RGGI CO2 allowance auction and following each quarter on the secondary market. These are available on the Market Monitor Reports page.