Regional Greenhouse Gas Initiative

an initiative of the Northeast and Mid-Atlantic States of the U.S.

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Auction Design

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In March 2007, the New York Energy Research and Development Authority (NYSERDA), on behalf of RGGI States, engaged a research team led by the University of Virginia and Resources for the Future (RFF) to evaluate regional auction design options and make recommendations to the Staff Working Group and Agency Heads for the specifications of a regional RGGI allowance auction. The outcome of this research provided recommendations at a level of specificity that would allow participating states to jointly implement an auction platform and administer an auction, pursuant to design requirements and rules specified by RGGI States.

The research team used experiments (mock auctions in a laboratory setting) to test the performance of a number of auction formats considered good candidates for use in a carbon allowance market. The research team supplemented experimental results with additional analysis of academic literature and other experiences with allowance auctions.

RGGI Allowance Auction Design

Summary Format Size Updated
Final Auction Design Study Report PDF 712kb 10/26/2007
Draft Phase-I Auction Design Study Report PDF 1.39mb 10/26/2007