RGGI Carbon Prices Jump in First Event With Fewer Permits
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The cost to emit carbon dioxide in the U.S. Northeast rose by a third after the region’s cap-and-trade program revised its rules to cut the supply of permits.
Regional Greenhouse Gas Initiative Inc. auctioned 23.4 million allowances for $4 each at its March 5 event, up from $3 in December, according to a statement posted today on the New York-based nonprofit group’s website. This was the first event under new rules that were announced in February 2013 and took effect this year.