RGGI allowance auction date announced
States participating in the Regional Greenhouse Gas Initiative (RGGI), an agreement among the Governors of ten Northeastern and Mid-Atlantic states to reduce greenhouse gases from power plants, have announced the date for the first ever CO2 allowance auction in the United States for a mandatory emissions reduction program.
The RGGI states have agreed to participate in quarterly uniform regional auctions for the allowances that each state will be offering for sale, with the first scheduled for September 10, 2008.
The second quarterly auction is scheduled to be held on December 17, 2008. The first compliance period for the RGGI cap-and-trade program will begin January 1, 2009.
In conducting regional auctions, the RGGI states have come to agreement on a number of design elements.
“Climate change is the most
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