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Regional Greenhouse Gas Initiative
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MARYLAND CO2 BUDGET TRADING PROGRAM AUCTIONS
To support the state CO2 Budget Trading Programs, the RGGI participating states have implemented a regional auction platform to sell CO2 allowances. The twelfth auction of CO2 allowances was held on June 8, 2011. Maryland, as a participating state, offered 2,245,541 allowances for sale for vintage year 2011 at $1.89 per allowance and 190,346 allowances for sale for vintage year 2013 at $1.89 per allowance. (See RGGI Press Release) |
The Regional Greenhouse Gas Initiative (RGGI) is a cooperative effort by ten Northeast and Mid-Atlantic states to reduce carbon dioxide (CO2) emissions from electricity generating plants. RGGI includes Maryland, Connecticut, Delaware, Maine, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont.
In the United States, RGGI is the first program of its kind, a multi-state emissions cap and trade program with a market-based emissions trading system. The cap and trade program is designed to reduce CO2, a greenhouse gas, while maintaining electricity affordability and reliability. Maryland's participation in RGGI will reduce CO2 emissions from the State's electricity generators by roughly 10 percent from current levels by 2019. The program also directly funds energy efficiency and cleaner energy programs that will lower greenhouse gas emissions.
Maryland formally joined RGGI on April 20, 2007, when Governor Martin O'Malley signed the Second Amendment to the RGGI Memorandum of Understanding (MOU). The signed MOU is available here and the first amendment to the MOU is available here.
NEWS: Twelfth CO2 Auction held on June 8, 2011. More information here.
Maryland CO2 Budget Trading Program: Information regarding offset projects can be found here
REGULATIONS AND RELATED MEETINGS: A stakeholder meeting of the Maryland Climate Change Commission was held on November 5, 2010. More information here
RGGI FACTS: How does a cap and trade program work? What will generators need to do? Click here.
RESEARCH: What are the effects of different levels of energy efficiency spending? What is Maryland's Strategic Electricity Plan? Click here.
ADDITIONAL RESOURCES: Links to programs in and outside of Maryland... Click here.
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