Settlement: $0

Bid: $0

Offer: $0

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You are viewing historical pricing data for the Regional Greenhouse Gas Initiative (RGGI).
This information is subject to delay. Settlement prices also listed daily on Reuters news service.

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The Regional Greenhouse Gas Initiative (RGGI) is a cooperative effort between ten (10) Northeast and Mid-Atlantic states CT, DE, MA, MD, ME, NH, NJ, NY, RI and VT. It is the United States' first carbon cap and trade program which is designed to restrict the amount of carbon dioxide electric producers emit into the atmosphere. The Cap-and-Trade Program intends to cap the total amount of greenhouse gas emissions (GHG) in order to meet specific environmental targets starting in 2009. RGGI creates allowances representing one (1) short ton of CO2. These allowances can be purchased by individuals, investors, environmental groups, brokers, financial or investment institutions and owners of electric generation sources through quarterly auctions held by the states participating in the RGGI program. Allowances can also be bought and sold between parties at any time. The auctions allocate allowances based on a sealed auction process to bidders. The total number of CO2 allowances allocated will add up to the total emissions cap for RGGI participants.
Electric Generating Units greater then or equal to 25MW will be required to purchase a specific amount allowances within the predetermined control period starting January 1st 2009. Units which were online prior to January 1st 2005 and produce greater then or equal to 50% of their heat from fossil fuels will be subject to RGGI. While Units which have come online after January 1st 2005 and produce more then 5% of their heat from fossil fuels will also be required to comply with RGGI. All other electric generation unit will not be required to comply with the RGGI Program.

Electric Generation Units which are subject to the above qualifications will be required to purchase a specific number of allowances beginning January 1st 2009. For a more specific description of the RGGI rules go to www.RGGI.org

Allowances are auctioned off on a quarterly basis. There will be two (2) pre compliance auctions taking place September 25 and December 17 of 2008. These auctions will be followed by auctions taking place beginning first (1) quarter 2009.

MARKET SPECIFICATIONS

Contract Size: 1 allowance (Each RGGI Allowance is equal to one (1) short ton of CO2).

Delivery: physically to the RGGI CO2 Allowance Tracking System.

In order to trade unregulated forward RGGI contracts ("RGGI UFCs") traders must create an account with the Regional Greenhouse Gas Initiatives CO2 Allowance Tracking System ("RGGI-COATS") which is the delivery point for the contracts. Verification of account ownership will be required in order to open an account and trade on Flett Exchange. Follow the link provided to open an account in the RGGI-COATS system. www.RGGI-COATS.com

Commissions for Electronic Trades:
< 1,000 allowances = $30 per trade.
> 1,000 allowances = 3.5 cents per side.

Financial/Margin Requirements: traders must fit one of the following categories to place an order. All counterparties can choose accordingly before consummating a deal.

Class 3 Escrow: No security deposit required. Buyers must transfer funds within three (3) business days after deal to Flett Exchange. Sellers place RGGI allowances in Flett Exchange Escrow account on trade day.

Class 2 Escrow: Buyers and sellers deposit 10% of gross trade amount with Flett Exchange prior to trade. Buyers will deposit remaining 90% within three (3) business days to Flett Exchange. Sellers transfer RGGI allowances to Flett Exchange on trade day.

Class 1 Escrow: Buyers deposit 100% of deal value prior to deal. Sellers deposit 10% of deal value prior to deal. Sellers transfer allowances to Flett Exchange on trade day.