Governor asked to strengthen Regional Greenhouse Gas Initiative program

PROVIDENCE – The Acadia Center, along with other stakeholders, sent a letter to Gov. Gina M. Raimondo this week asking that the Regional Greenhouse Gas Initiative be strengthened and greenhouse gas reductions be pursued beyond the power sector.

RGGI is a cooperative effort among the states of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island and Vermont to cap and reduce CO2 emissions from the power sector.

RGGI stakeholders meet Friday in Rhode Island to discuss the state’s climate plans, according to the nonprofit Acadia Center, an organization committed to advancing clean energy.
Rhode Island, like other RGGI states, has committed to achieving significant emissions reductions by 2030 – 35 to 45 percent below 1990 levels in Rhode Island.

“In order to meet the state’s 2030 goal, Rhode Island will need to achieve major emissions reductions from the electric sector,” Jordan Stutt, policy analyst at Acadia Center, said.
Regional Greenhouse Gas Initiative states also announced results of the recent 31st quarterly auction of carbon dioxide allowances, showing 14,838,732 allowances were sold at a clearing price of $5.25.
That price is 30 percent lower than the previous auction, and 3 percent lower than the clearing price from one year ago, according to a news release from the RGGI.

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A total of $77.9 million dollars was raised from the auction. Since the program began, $2.45 billion has been raised for reinvestment – the majority of which has been used to fund energy efficiency and other consumer benefit programs.

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