Wednesday, December 31, 2008

RGGI auctions under way

The Regional Greenhouse Gas Initiative (RGGI) is a group of 10 northeastern US states conducting a series of carbon auctions. During 2008, RGGI conducted two auctions. The goal is to provide a model for an eventual national cap and trade program.

Peter Iwanowicz, director of New York's Office of Climate Change, told the Associated Press that RGGI might merge with the Western Climate Initiative being developed by seven western states, including California. Four Canadian provinces also are part of the Western Climate Initiative.

RGGI members are New York, Connecticut, Deleware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, Rhode Island, and Vermont. The program covers total carbon dioxide emissions allowed from power plants in the RGGI region.

Participants of these auctions will help to determine a carbon price. So far, auction participants have been power generating companies although the auctions are open to others.

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Blogger Benjamin Hofmannn said...

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December 31, 2008 at 9:44 AM  
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