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Congestion Watch Blog

RGGI Auction 61 – Clearing Prices Up Nearly 9% | Emissions Watch Blog

The most recent RGGI quarterly auction (Auction 61) was held on September 6th. The clearing price was $13.85/ton, 8.8% higher than the clearing price of $12.73/ton on June 7, 2023. Auction 61 represents the largest increase in clearing price in percentage terms since Auction 54 in December 2021.

Congestion Watch Blog

RGGI Auction 60 – Clearing Price of $12.73/ton | Emissions Watch Blog

RGGI quarterly Auction 60 was held on June 7, 2023. The clearing price was $12.73/ton, 1.8 percent higher than the clearing price of $12.50/ton on March 8, 2023 (see Figure 1). Auction 60 represents the first auction with a clearing price higher than the previous auction since Auction 56 in June 2022, reversing the recent trend of declining clearing prices.

Congestion Watch Blog

RGGI Auction 59 – Clearing Price of $12.50/ton | Emissions Watch Blog

The most recent RGGI quarterly auction (Auction 59) was held on March 8, 2023. The clearing price was $12.50/ton, 3.8% lower than the clearing price of $12.99/ton on December 7, 2022 (see Figure 1). Auction 59 represents the third consecutive auction with a clearing price at least three percent lower than the previous auction. The trend of lower clearing prices in recent auctions is notable given that clearing prices had increased in 12 consecutive auctions from September 2019 through June 2022.

Congestion Watch Blog

PM2.5 and NAAQS Update | Emissions Watch Blog

The U.S. Environmental Protection Agency (EPA) issued a proposed rule to strengthen the primary (health-based) annual National Ambient Air Quality Standards (NAAQS) for fine particle pollution, PM2.5. Specifically, the EPA is proposing to revise the primary annual standard from 12.0 µg/m3 to a value within the range of 9.0 and 10.0 µg/m3.

Congestion Watch Blog

RGGI Auction 58 Clears at $12.99 | Emissions Watch Blog

The most recent RGGI quarterly auction (Auction 58) was held on December 7, 2022. The clearing price was $12.99/ton, three percent lower than the clearing price of $13.45/ton on September 7, 2022 (see Figure 1). Auction 58 represents the second consecutive auction with a clearing price lower than the previous auction, with both Auctions 57 and 58 clearing 3 percent below previous auction clearing prices.

Congestion Watch Blog

RGGI Auction 57 Clears At $13.45, A 3% Drop | Emissions Watch Blog

The most recent RGGI quarterly auction (Auction 57) was held on September 7, 2022. The clearing price was $13.45/ton, three percent lower than the clearing price of $13.90/ton on June 1, 2022 (see Figure 1). Although the clearing price was only $0.45/ton lower than the most recent auction, Auction 57 marks the first time since Auction 45 in September 2019 that the clearing price has declined from the previous auction.

Congestion Watch Blog

Proposed EPA Rule Leads to Quadrupling Group 3 Ozone Season CSAPR NOx Prices | Emissions Watch Blog

The EPA issued a proposed rule in February 2022 that, if finalized, will implement significant programmatic changes, and establish lower emissions limits to the existing Group 3 Ozone Season Cross-State Air Pollution Rule (CSAPR) beginning in the 2023 ozone season. Following the issuance of this proposed rule, Group 3 CSAPR NOx allowance prices have quadrupled from approximately $6,500/ton in February to $28,500/ton (June 6).

Congestion Watch Blog

RGGI Auction 56 Update: RGGI Auction Clears At $13.90 | Emissions Watch Blog

The most recent RGGI quarterly auction (Auction 56) was held on June 1, 2022. The clearing price was $13.90/ton, three percent higher than the clearing price of $13.50/ton on March 9, 2022 (see Figure 1). Although the clearing price was only slightly higher than the most recent auction, the $13.90/ton price marks the highest clearing price since the start of the program. Notably, the clearing price fell just short of the 2022 Cost Containment Reserve (CCR) trigger price.

Congestion Watch Blog

EPA Wastewater Rules and PJM Coal Retirements | Emissions Watch Blog

Coal-fired power plants are subject to a myriad of federal environmental regulations that have led to significant retirement waves when plant owners face capital expenditures for compliance that cannot be supported by market revenues. Many coal plant owners are now facing significant potential compliance costs due to rules regulating disposal of coal combustion residuals (CCRs). CCRs, also known as coal ash, are produced from the process of burning coal and operating flue gas desulfurization equipment at coal-fired facilities.

Congestion Watch Blog

RGGI Auction 54 Update | Emissions Watch Blog

The most recent RGGI quarterly auction (Auction 54) was held on December 1, 2021. The clearing price was $13.00/ton, nearly 40 percent higher than the clearing price of $9.30/ton on September 8, 2021 (see Figure 1). For the first time since September 2015, the Cost Containment Reserve (CCR) was triggered which is a mechanism of the RGGI program that was implemented to provide additional allowances when auction prices exceed an established price ceiling.