Energy 2.0 » RGGI

Fast Times at Cap&Trade High

Dean Fogarasi — Wed, 08 Jun 2011 16:30:06 +0000

Governor Chris Christie

You may not know this, but “Cap and Trade” isn’t just a buzz-phrase for something many environmentalists would like to see the U.S. adopt for regulation of greenhouse gases–it’s been a reality for 10 northeastern states since 2009. With the announcement of New Jersey Governor Chris Christie’s plan to withdraw from the Regional Greenhouse Gas Initiative (RGGI) this year, the hot-button issue of Cap and Trade has again come to the surface of environmental news sphere. Cap and Trade, the market-based mechanism that many call for to help steer our energy production from fossil fuels to renewables, has been employed under a cooperative agreement called RGGI (“reggie”). RGGI is a joint venture by the New England states along with New York, New Jersey, Delaware, and Maryland, to… [view entry]

MA sets standards to meet Green Communities Act goals

Sarah — Fri, 29 Jan 2010 19:47:44 +0000

The New York Times reports today that Massachusetts officials have announced new energy standards to meet the goals set forth by the Green Communities Act of 2008.

The plan specifies statewide goals of 2.4% reduction in electricity use and 1.15% in natural gas use annually for three years, or 7.4% and 3.5% respectively over the designated period. These reductions are expected be reached through $1.6 billion worth of incentives for utility customers who conserve energy. A significant increase in yearly spending on consumer outreach and incentive programs for conservation is also expected, quadrupling the amount of money designated for these purposes from $150 to $600 million per year.

Consumer fees and pollution allowance auctioning via the Regional Greenhouse Gas Initiative will be the main funding sources for the $1… [view entry]

Regional carbon market developments

JPierce — Mon, 25 Jan 2010 06:57:37 +0000

The Regional Greenhouse Gas Initiative (RGGI) is the first mandatory, market-based effort in the United States to reduce greenhouse gas emissions. Ten Northeastern and Mid-Atlantic states haved capped and will reduce CO2 emissions from the [electric] power sector 10% by 2018.
States sell nearly all emission allowances through auctions and invest proceeds in consumer benefits: energy efficiency, renewable energy, and other clean energy technologies. RGGI will spur innovation in the clean energy economy and create green jobs in each state.

Last week, a settlement was reached in a New York state lawsuit regarding the Regional Greenhouse Gas Initiative. Under the settlement, the most populous and third highest per capita carbon emitting state will remain in the accord. This is a positive development which helps ensure the size… [view entry]