11 June 2025 | 04:05 UTC — Insight Blog
RGGI auction clears slightly lower in Q2 amid continued market uncertainty
Energy transition highlights: Our editors and analysts bring together the biggest stories in the industry this week, from renewables to storage to carbon prices.
The Q2 Regional Greenhouse Gas Initiative carbon auction cleared 5% lower quarter over quarter despite the Q1 auction emptying the cost containment reserve, according to data released on June 6.
RGGI Auction 68 settled at $19.63 per allowance. Despite being a slight drop from Q1, this settlement price was still higher than the 2025 reserve tier price.
15.2 million allowances were sold at the auction, a 35% quarter-over-quarter decrease because the Q1 auction breached the price ceiling and sold all 8.1 million reserve allowances.
The Q1 2024 auction similarly reached the reserve trigger price and emptied all cost containment reserve allowances, but the following auction’s settlement prices leapt 31% higher as a result. That same trend of explosive carbon price growth did not occur from Q1 2025 to Q2 2025, potentially due to the downward pressure seen in the market from US President Donald Trump’s policy moves made in April.
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