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January 21, 2009 / or4green

Update: Regional Greenhouse Gas Initiative

I wrote about the Regional Greenhouse Gas Initiative (RGGI) involving northeast US states back in March 2008, before the auctions began. Since that time, two auctions have been held, raising $106.5 million for the 10 participating states. The prices were $3.07 per ton at the first auction in September, and $3.38 in the second, held in December. The money goes toward supporting energy efficiency and conservation along with renewable energy. A lot has been written about the program and the first two auctions.

For more about the recent activity, take a look at these:

Big Benefits For Connecticut In CO2 Emissions Auction, Hartford Courant, Dec 23, 2008 … or try this link

RGGI’s Rules: Northeast Launches First U.S. Carbon Cap, But Will It Work? WSJ Environmental Capital, Sep 25, 2008

Importing Pollution: Coal’s Threat to Climate Policy in the U.S. Northeast, report by the Union of Concerned Scientists, Dec 2008. This has to do with emissions leakage – when a regional emissions reduction program inadvertently leads to increased use of polluting sources in neighboring regions. I mentioned it briefly in this post as well.

Update:
Regional Climate Pact’s Lesson: Avoid Big Giveaways to Industry Yale Environment 360, May 21, 2009, see this post

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2 Comments

  1. Matt Dernoga / Mar 14 2009 11:37 pm

    I wanted to give you an update on something going on with RGGI’s funds in my state. I also have another post from earlier in the month where the NY Governor David Patterson went back on his state’s word on RGGI.

    http://madrad2002.wordpress.com/2009/03/15/omalley-raiding-70-million-from-efficiency-fund/

  2. or4green / Mar 16 2009 9:12 am

    Matt – thanks for the info. The same thing happened in CT – Governor Rell wanted to use the funds for rate relief, though it looks like that won’t be happening. Here’s a story on it –
    http://www.renewableenergyworld.com/rea/news/article/2009/03/tough-times-ahead-will-the-us-industry-need-a-new-story

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