RGGI Cap And Trade To Go Online Sept. 10

May 6, 2008

Email this story Print this post Add your comments

The Regional Greenhouse Gas Initiative (RGGI) expects to go online September 10, News.com reports. The blind online auction will allow power generators to compete for the cheapest price for pollution allowances.

RGGI, in which power generators in 10 states in the Northeastern U.S. must participate, is a cap-and-trade system for carbon where power generators can purchase allowances to emit a certain amount of carbon dioxide.

The market-based mechanism, which draws from a successful U.S.-devised system to cut down on power plant emissions that cause acid rain, is meant to be a more efficient and flexible alternative to government-set limits and more politically palatable than a straight carbon tax.

World Energy, which will write the software that utilities will need to use, already has a business operating energy markets where electricity purchasers in deregulated markets buy contracts from suppliers.

The first ever U.S. regional carbon compliance trades earlier this year were in the range of $5 – $10 per ton -much higher than the official price estimate of $2.32 per ton.

Email this story Print this post Add your comments

Advertisers

Make sustainability part of your strategy.

Get equipped at the SAP Sustainability Resource Center. >>

Unclear about the EPA's new GHG Rule?

Learn how it could affect your business. >>

EPA mandatory emissions reporting starts Jan 1st

CSA Standards can help your organization get ready for compliance. Find out how. >>

Survey Results: Product Environmental Compliance Best Practices

How to achieve compliance at a significantly lower cost. Download the full report. >>

Join the Discussion

Recent Daily News [ see all ]

11/20/2009
11/19/2009
11/18/2009

Charts [ see all ]

European Paper Industry Cuts CO2 Emissions by 42% since 1990

S. America Takes Most Urgent View of Copenhagen Talks

Nike Tops Annual Climate Action Scores

Oceans May Trap more Carbon than Forests

Jobs

View All Jobs >> Post a Job >>

Comments and Discussions

Trade Association on Trade Group on EPA Chemical Regs: ‘If Everything is a Priority, Then Nothing is a Priority’
"Seriously… that..."

Gary Markowitz on Supermarkets Tackle Emissions Reductions, Fuel Efficiency
"Supermarkets waste over 10 percent of their energy through improper..."

peter in ireland on Ontario May Follow California’s Lead on TV Energy Efficiency
"Governor Schwarzenegger is shooting himself in the foot! 1...."

Environmental Leader on S. America Takes Most Urgent View of Copenhagen Talks
"The survey respondents (the PDF report mentions 4,000 respondents in 38..."

Jake on UPS Trying New Hydraulic Hybrid Trucks
"A point of clarification: the Reuters press release referenced herein reports that 20 UPS will purchase..."

Custom Organic Shirts on S. America Takes Most Urgent View of Copenhagen Talks
"90% of North Americans believe it is urgent to get a global climate..."

peter dublin on California City’s Green Building Ordinance Applies to Commercial Buildings
"Why energy efficiebnt regulation on buildings –..."

Environmental Leader