« University Study Concludes that New York's Regulatory Framework for Hydraulic Fracturing Would Avoid Mistakes Made in Pennsylvania | Main | New York City Announces Plan to Reduce Fine Particulate Matter »

RGGI Releases Series of Possible Changes to Its Cap-and-Trade Program


On May 21, 2012, the Regional Greenhouse Gas Initiative (RGGI) released a series of possible changes to its cap-and-trade program, including changes in its offset requirements, auction design, and the control period for reducing carbon dioxide emissions.

RGGI, undertaking a comprehensive review of the program, included the proposals in a report requesting that stakeholders comment on the potential changes. The program is considering a number of possible changes to the current provisions that allow electric generators to offset their emissions with projects like forestation and end-use energy efficiency. Under current provisions, the program has received no applications for offset projects.

Among the potential changes under consideration are expanding the categories of projects eligible for offsets, simplifying the offsets process, increasing the amount of carbon dioxide allowances that can be offset, and expanding the permissible geographic locations for projects.

Other potential changes proposed in the report include creation of a reserve of allowances to provide the program with greater flexibility, replacement of the current three-year control period with a one-year control period; and use of a new mechanism for setting the minimum reserve price for CO2 allowances.

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)

About

This page contains a single entry from the blog posted on May 24, 2012 3:10 PM.

The previous post in this blog was University Study Concludes that New York's Regulatory Framework for Hydraulic Fracturing Would Avoid Mistakes Made in Pennsylvania.

The next post in this blog is New York City Announces Plan to Reduce Fine Particulate Matter .

Many more can be found on the main index page or by looking through the archives.