Maine and New England consider stronger CO2 caps
Source: Bangor Daily News
While the federal government pulls back from global efforts to reduce greenhouse gas pollution, the New England states are considering more aggressive curbs on power plant carbon emissions.
The Regional Greenhouse Gas Initiative, or RGGI, is a market-based cap-and-trade program that sets limits on carbon-dioxide emissions in nine states, including all of New England. Power generators can buy and sell emission allowances under the program, which can give a financial boost to cleaner sources such as wind or hydro plants. So far RGGI’s allowance auctions have raised more than $2.5 billion, with the proceeds flowing to the states, and most of them investing heavily in energy efficiency efforts.
“All the evidence points to the fact that RGGI’s working well, it’s been a great success since its inception,” said Peter Shattuck, director of the Clean Energy Initiative at the Acadia Center, an environmental policy group with offices in Maine and around the northeast.
“[Since RGGI’s 2009 startup] carbon pollution is down 40 percent, electricity prices are down 3 percent, and at the same time [the participating] states’ economies have grown by 25 percent,” he said.
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Read more: http://bangordailynews.com/2017/07/14/news/state/maine-and-new-england-consider-stronger-co2-caps/?ref=latest
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