31 Jul '17, 3pm

Tighter Pollution Cap Could Get RGGI States $3.2B Extra

Tighter Pollution Cap Could Get RGGI States $3.2B Extra

Under the RGGI program, power plants buy permits (aka allowances) at quarterly auctions that allow them to emit a specific amount of carbon pollution. (Each year, the total amount of pollution—or cap—decreases, as does the number of available permits. Permits purchased at auction can also be traded—bought or sold—by power plants in secondary markets.) The RGGI states then invest the bulk of the auction revenues in energy efficiency, renewable energy, energy bill assistance for low-income consumers, and other programs as they see fit. (Note: When the RGGI states were first crafting their program, they wisely recognized that auctioning allowances to polluters and reinvesting the revenues for the benefit of consumers was the right decision to make rather than giving allowances away to polluters for free, which would have been a windfall for those polluters and denied consumer...

Full article: https://www.nrdc.org/experts/jackson-morris/tighter-pollu...

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We recommend going for the upgrade here because it’s not every day that you will find yourself out on the Indian Ocean, wi...