The Regional Greenhouse Gas Initiative (RGGI) has set the rules for the first allowance auctions to take place on September 10, 2008 and December 17, 2008. This is the first mandatory CO2 emissions reduction program auction in the United States. Quarterly auctions will take place after these first two. These companies have won the right to work with RGGI on aspects of the program: World Energy Solutions, Inc., Perrin Quarles Associates, Inc., ICF International, and the Greenhouse Gas Management Institute.
The basic design of the auction has received some criticism. Mike Giberson at Knowledge Problem wrote about this last November and believes the issues may easily be corrected. He cites Peter Cramton’s report on behalf of North East power markets that recommends a simultaneous ascending clock auction design.
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