Supply and Demand: Higher demand for RGGI allowances pushes prices up; increased allowance supply lowers them.

Auction Results: Outcomes of quarterly RGGI auctions directly influence allowance prices based on participant bidding.

Emissions Caps: Stricter regional emissions limits increase demand and thus the price for compliance allowances.

Economic Activity: Higher economic activity can lead to increased electricity demand and corresponding emissions, driving prices upward.

Fuel Prices: Changes in fossil fuel prices (coal, natural gas) can affect relative costs and emissions, altering RGGI allowance demand.

Regulatory Changes: New policies, amendments to existing RGGI rules, or actions by participating states can impact prices.

Weather Patterns: Extreme weather conditions can impact energy demand and emissions, subsequently affecting allowance prices.

Allowance Bank: The amount of unused allowances available from previous years influences future demand and price.

Technological Advancements: Innovation in renewable energy or energy efficiency can reduce emissions and allowance demand.

Market Sentiment: Speculation and broader investor beliefs about the future of carbon markets affect trading behavior and price.