21 Mar 2009

$US117m raised in US carbon auction

9:52 am on 21 March 2009

Ten states in the eastern United States have raised more than $US117 million in a third auction of permits for power plants to emit carbon dioxide.

This was about $US10 million more than the last sale. The states have raised a total of about $US263 million since their first auction last September.

Most of the funding is intended for energy efficiency, renewable energy and consumer benefit programmes.

Power plants must hold permits for every ton of carbon dioxide they emit. Unused permits can be sold in the market.

The states involved are: Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont.