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Regional Greenhouse Gas Initiative (RGGI)

The Regional Greenhouse Gas Initiative, or RGGI, is an agreement among ten Northeastern and Mid-Atlantic States (Connecticut, Delaware, Maine, Maryland, Massachusetts, New Jersey, New Hampshire, New York, Rhode Island and Vermont) to reduce greenhouse gas emissions from power plants. The RGGI states (“Participating States”) have committed to cap and then reduce the amount of carbon dioxide that certain power plants are allowed to emit, limiting the region’s total contribution to atmospheric greenhouse gas levels. The Participating States have agreed to implement RGGI through a regional cap-and-trade program using uniform quarterly auctions to sell nearly the entire annual regional emissions budget of approximately 188 million allowances per year.

NYSERDA’s Role in RGGI
Rules and regulations under development by the NYS Department of Environmental Conservation (DEC) and NYSERDA, call for NYSERDA to administer or participate in periodic auctions to sell approximately 62 million allowances per year, nearly 100% of New York’s annual emissions budget. Pursuant to these regulations, the proceeds will be used by NYSERDA to administer energy efficiency, renewable energy, and/or innovative carbon abatement programs and to cover the costs to administer such programs. It is expected that NYSERDA will participate in the regional auction program beginning with the second regional auction currently scheduled for December 17, 2008.

September 25, 2008 Regional Auction
The first regional auction is scheduled for Thursday, September 25, 2008. The states offering allowances for sale in the September 25, 2008 auction include Connecticut, Maine, Maryland, Massachusetts, Rhode Island, and Vermont. All parties, including power plant owners in RGGI states not offering allowances for sale, are eligible to participate in this auction provided they meet all qualification requirements. All participation requirements and documents for the September 25, 2008 auction can be found at: http://www.rggi.org

NYSERDA’s RGGI Auction Regulation (Part 507)
Part 507 has been designed to complement the provisions of the CO2 Budget Trading Program, which is being separately promulgated as new Part 242 by the Department of Environmental Conservation.

Final Express Terms Part 507 - Effective October 8, 2008 (43kb .pdf)

Revised Part 507 Proposal - May, 2008

NYSERDA Revised Express Terms - Part 507 (42kb .pdf)

NYSERDA Revised Regulatory Impact Statement - Part 507 (40kb .pdf)

NYSERDA Revised Rural Area Flexibility Analysis - Part 507 (18kb .pdf)

NYSERDA Revised Regulatory Flexibility Analysis for Small Businesses and Local Governments - Part 507 (9kb .pdf)

NYSERDA Revised Job Impact Statement - Part 507 (9kb .pdf)

Initial Proposal - October, 2007

NYSERDA Summary of Express Terms (10kb .pdf)

NYSERDA Express Terms - Part 507 (39kb .pdf)

NYSERDA RIS - Part 507 (50kb .pdf)

NYSERDA RFA - Part 507 (19kb .pdf)

NYSERDA RAFA - Part 507 (22kb .pdf)

NYSERDA JIS - Part 507 (16kb .pdf)

Useful Links and Documents

DEC RGGI site: http://www.dec.ny.gov/energy/rggi.html

Regional Greenhouse Gas Initiative: http://www.rggi.org

For more information

For more information please email: rggi@nyserda.org

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