Paraphrased from bits and pieces on the RGGI webpage:
On September 25, 2008, the Regional Greenhouse Gas Initiative conducted its first sealed bid, uniform price auction and sold 12,565,387 CO2 allowances. All allowances offered in Auction 1 were sold at a clearing price of $3.07. The next auction is December 17.
According to some basic microtheory, the marginal cost of CO2 abatement is around $3 since there is no reason to bid above your abatement cost [unless you think you can buy allowances at a low price and flip them to suckers who missed out on the low price or to those who want to flip them again creating a speculative bubble that drives the U.S. economy into the freakin' ground].
