Pollution permits: RGGI auction

The Regional Greenhouse Gas Inititative prepares to hold its first auction tomorrow: Emissions auction aims to be US model
Power plants in 10 states will bid on the right to pollute

"The first auction is really just a small release of allowances to the market for price discovery purposes," he said. "I think a lot of people will just be kind of testing the waters."

Here is the RGGI; auction results will be posted here. The auction will be a uniform price, sealed bid auction. A full set of documents is here.

Experiments played a role in the design process, see

Auction Design for Selling CO2 Emission Allowances Under the
Regional Greenhouse Gas Initiative
Final Report
October 26, 2007
Investigators:
Charles Holt, William Shobe
University of Virginia
Dallas Burtraw, Karen Palmer
Resources for the Future
Jacob Goeree
California Institute of Technology