On 26 September, RGGI regulators conducted their latest of several meetings for the regional carbon market’s Third Program Review. In the meeting, a series of new elements to strengthen the program were brought forward; including more stringent compliance periods and cuts to supply that would zero-out allowances by 2035 or 2040. The level of rigor associated with the updates introduced in this month’s meeting exerted a bullish pressure on RGGI contract prices as market entities prepare for greater-than-expected updates to program stringency in the next few years.