in News Departments > FYI
print the content item

States belonging to the Regional Greenhouse Gas Initiative (RGGI) have released design elements for regional allowance auctions. The RGGI is a cooperative effort by Northeastern and Mid-Atlantic states to reduce carbon dioxide emissions.

The RGGI states have committed to reduce the amount of carbon dioxide (CO2) that certain power plants are allowed to emit, limiting the region's total contribution to atmospheric greenhouse gas (GHG) levels through a regional cap-and-trade program, whereby the participating states anticipate auctioning nearly the entire annual regional emissions budget, which initially is approximately 188 million tons of CO2. Each ton of CO2 will constitute an "allowance."

The participating states have also agreed to participate in uniform regional auctions for the allowances that each state will be offering for sale. The initial auction is currently planned for Sept. 10, with a second auction on Dec. 17.

Allowances will be made available for sale on a quarterly basis in lot sizes of 1,000 allowances, a reserve price of $1.86 per allowance will apply to the first auction and unsold allowances will be made available for sale in future auctions in which a reserve price based on the current market price is being used.

Within a reasonable period of time following each auction, the participating states shall publish the auction clearing price and the total amount of allowances sold in such auction on the RGGI Web site.



IowaDeptEconDevel_id1863

Helukabel_id1908
Latest Top Stories

Smart Community Engagement: Twelve Tips Every Wind Developer Should Know

Community engagement helps ensure a project runs smoothly, but it can also save developers money and even lead to a more successful wind industry overall.


Bird Groups Target LEEDCo's Icebreaker Offshore Wind Pilot

Two bird conservation groups that helped halt a wind project earlier this year argue that Lake Erie Energy Development Corp.'s (LEEDCo) 18 MW offshore demo poses a major risk to regional wildlife.


Report Disputes U.S. Agency's Renewable Energy Projections

A new analysis from the Sun Day Campaign says renewables are slated to provide 16% of U.S. generating capacity by 2018 - over 20 years earlier than forecast by the Energy Information Administration.


Kansas Renewables Mandate Survives Yet Another Attack, But Is It Too Early To Celebrate?

Over the past three years, some legislators have tried to either weaken or repeal the state's renewable portfolio standard, which requires Kansas utilities to reach 20% renewables by 2020.


AWEA Highlights U.S. Wind Success Stories Of 2013

Despite a 92% drop in new capacity last year, the sector still has myriad reasons to celebrate, according to a new report from the American Wind Energy Association.

Acciona_id1907
UEA_id1896
WomenofWind_id
JLG_id1900
bonfiglioli_id1913
AWEA_id1886