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Q1 2020 emissions data from RGGI states is in, and unsurprisingly CO2 emissions are down 18% year-over-year. Despite the COVID-19 impacts on economic activity, RGGI allowances gained $0.15 in value since January. Evolution's Paul Tesoriero goes behind the numbers in his new RGGI report.
RGGI started the year at $5.50 and, after a sometimes volatile 10 months, we are right back at $5.50. Nonetheless, the program is in for major changes in 2020 as new states look to join.
RGGI Prices started at $5.55 in January 2019 and as mid-June we are back at where we started with the latest spot price of $5.50. Prices dropped to a low of $5.23 on March 12, 2019, the same week RGGI conducted its first Auction of the year. The March Auction cleared at $5.27.