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From the April 2008 issue
Date for Nation's First Auction of Greenhouse Gas Allowances Announced
Emission offsets, particularly from power plants, are a key component of RGGI
Recently, states participating in the Regional Greenhouse Gas Initiative (RGGI) announced that they will hold the first ever CO2 allowance auction in the nation on September 10, 2008. RGGI is an agreement among the governors of 10 Northeastern and Mid-Atlantic states to reduce greenhouse gases from power plants. RGGI states have agreed to participate in regional auctions of CO2 allowances on a quarterly basis. The second quarterly auction is scheduled for December 17, 2008. The first compliance period for the RGGI cap-and-trade program will begin on January 1, 2009. In conducting regional auctions, the RGGI states have come to an agreement on a number of design elements. See the RGGI website at "Related Links" below for more information on those design elements.
States Taking Action to Cut CO2
"Climate change is the most significant environmental problem of our generation," said Pete Grannis, Chair of RGGI, Inc. and DEC's Commissioner. "Absent federal leadership, the Northeast and Mid-Atlantic states of RGGI are taking action to cut greenhouse gas emissions and reduce their impact on the environment. Our CO2 auction will be the first in the nation and should be replicated at the federal level," continued Grannis.
To support the implementation of the program, RGGI, Inc., through a competitive selection process, has named several companies to deliver critically important services. World Energy Solutions, Inc. was selected to provide services related to the design and implementation of a regional allowance auction. Perrin Quarles Associates, Inc. (PQA) was selected to provide services related to the development and implementation of an emissions and allowances tracking system. ICF International was selected to provide services to support the implementation of the emissions offset component of the RGGI program, including the development of model application and submittal documents, and model guidance documents. Greenhouse Gas Management Institute was selected to provide services related to the development of an accreditation process for independent verifiers of offset projects. These selections are tentative pending the outcome of a contract negotiation process and final agreement of contract terms and conditions.
About RGGI, Inc.
RGGI, Inc. was created in September 2007, to provide technical support to the states participating in RGGI, in order to facilitate the administration of the regional RGGI cap-and-trade program. RGGI, Inc. is a 501(c) 3 nonprofit organization. For more information about RGGI, see "Related Links" below.
Related Links:
RGGI Website (leaving DEC's site)
