RGGI auction results for NYS

The seventh Regional Greenhouse Gas Initiative (RGGI) auction, held recently, helped raise total NYS revenues from the auctions to more than $213 million since December 2008.  $90 million of those funds will assist in reducing the State's deficit, with the rest going to fund programs through a plan adopted by NYSERDA, including a $112 million allocation to the Green Jobs / Green New York workforce training program, as well as the establishment of a loan fund for residential and small commercial and nonprofit customers for weatherization and energy efficiency improvements.

The Regional Greenhouse Gas Initiative (RGGI) is the first mandatory, market-based effort in the United States to reduce greenhouse gas emissions. Ten Northeastern and Mid-Atlantic states have agreed to cap and reduce CO₂ emissions from the power sector 10% by 2018.  The states sell nearly all emission allowances through auctions and invest proceeds in consumer benefits: energy efficiency, renewable energy, and other clean energy technologies.  The goal of RGGI is to spur innovation in the clean energy economy and create green jobs in each state.

The RGGI website (www.rggi.org) provides a portal for official user platforms, state applications, and materials for participants in RGGI, as well as current information about the status of RGGI auctions and state rules. Auction 8 will be held June 9, 2010.