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Will RGGI Double Down on Carbon Cuts?

Will RGGI Double Down on Carbon Cuts?

Carbon pricing, the bogeyman of climate-change mitigation, still inspires terror in some US corporate executives and politicians, despite support from global businesses and governments. Opponents argue carbon pricing will cause electricity prices to skyrocket and make businesses less competitive. But when it comes to reducing greenhouse gas emissions, it works … Read more »

With More Ambitious Carbon Pollution Cuts, RGGI Can Continue to Lead on Climate

While the Supreme Court has temporarily delayed implementation of the federal Clean Power Plan, the Regional Greenhouse Gas Initiative (RGGI), the nation’s first cap-and-trade program designed to cut carbon pollution from the power sector, continues to move forward. RGGI is a pioneering collaboration among nine Northeastern and Mid-Atlantic states – … Read more »

RGGI Carbon Auction Raises More Than $94M

The nine Northeastern and Mid-Atlantic states participating in the Regional Greenhouse Gas Initiative generated more than $94 million at their most recent carbon auction. RGGI’s 26th auction sold out of more than 18.2 million CO2 allowances at a clearing price of $5.21 per ton. The price is higher RGGI’s previous … Read more »

Clean Power Plan Could Achieve Greater CO2 Cuts, RGGI States Say

The Regional Greenhouse Gas Initiative states support the EPA’s Clean Power Plan, but say the proposed carbon pollution standards for existing power plants could achieve even greater emissions reductions, according to comments submitted last week. The nine Northeastern and Mid-Atlantic have already achieved a 40 percent reduction in regional CO2 … Read more »

Quebec, California Look to Expand Carbon Market

In an effort to expand the carbon market they established last year, leaders in Quebec and California are actively looking to recruit other parts of Canada and the US to join, according to Bloomberg. Quebec is discussing a regional market with the governors of New England states and leaders in … Read more »

industrial plant emissions

RGGI Carbon Auction Brings In $87.8 Million

Almost 18 million carbon allowances sold for $4.88 at the Regional Greenhouse Gas Initiative’s carbon auction on Sept. 3. The clearing price is slightly lower than that of the previous carbon auction, at which allowances sold for $5.02. The most recent allowances sold represent 100 percent of the allowances offered … Read more »

coal power plant

Economy ‘Can Benefit From’ Carbon Pollution Rules

States are well positioned to implement the EPA’s Clean Power Plan, according to a new report from Analysis Group’s electric industry and economic experts. The report, EPA’s Clean Power Plan: States’ Tools for Reducing Costs & Increasing Benefits to Consumers, is based on an analysis of states that already have … Read more »

RGGI Auction Sells Out of CO2 Allowances

The more than 18 million carbon allowances offered sold out at the Regional Greenhouse Gas Initiative’s (RGGI) most recent auction at a clearing price of $5.02. The auction generated $90.67 million for reinvestment by the nine Northeastern and Mid-Atlantic participating RGGI states in a variety of consumer benefit initiatives, including … Read more »

Carbon Market Monitor Releases Report

No evidence of anti-competitive conduct has been found in the market for Regional Greenhouse Gas Initiative (RGGI) CO2 allowances, according to the independent market monitor’s 2013 report. Annual Report on the Market for RGGI CO2 Allowances, by Potomac Economics, evaluates activity in the market for RGGI CO2 allowances in 2013, … Read more »

RGGI Announces 2015 CO2 Allocation

The Regional Greenhouse Gas Initiative (RGGI) released information for CO2 allowance allocation year 2015. For 2015, the RGGI cap for the nine-state RGGI region is 88.7 million short tons. The 2015 RGGI adjusted cap for the nine-state region is 66.8 million short tons. 66.8 million is the number of CO2 allowances allocated … Read more »

RGGI Revenues to Encourage $2 bn in Savings

RGGI Revenues to Encourage $2 bn in Savings

The Regional Greenhouse Gas Initiative (RGGI) states released a report that claims $700 million in proceeds from CO2 allowance auctions will return more than $2 billion in lifetime energy bill savings to the nine states in the compact. The report summarizes the lifetime impact of consumer, economic, and environmental investments made … Read more »

Carbon Emissions Fall for Third Straight Year

Greenhouse gas emissions fell in the nine states that participate in a northeast carbon trading market by 6 percent in 2013.  The states in the Regional Greenhouse Gas Initiative (RGGI) were helped by mild temperatures and the greater use of natural gas for power generation. Carbon emissions in the region … Read more »