Regional Greenhouse Gas Initiative
The Maryland Department of the Environment will propose changes to the MD CO2 Budget Trading Program regulations at the May 13, 2013 meeting of the Air Quality Control Advisory Council. Maryland, along with the other participating states, undertook a comprehensive review of the Regional Greenhouse Gas Initiative (RGGI) and agreed upon a number of significant changes. These changes will be implemented through amendment of the MD CO2 Budget Trading Program regulations. Through the regional organization, RGGI, Inc., the participating states conducted multiple stakeholder events to explain and take comment on the pending changes. The materials included a model rule as part of the process.
MDE has recently received requests to host a stakeholder meeting. The Stakeholder Meeting will be May 7th, from 10:00 AM to 12:00 PM, at MDE's Office at 1800 Washington Blvd. There will be a presentation on the proposed changes to the regulation, followed by opportunity to discuss the proposed changes, ask questions and offer comments.
While not required, RSVP's are appreciated at the contact information below. Also, feel free to forward this invitation to anyone you feel may wish to come.
If you have a question please contact Luke Wisniewski at 410.527.4231 or firstname.lastname@example.org
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 nineteenth auction of CO2 allowances was held on March 13, 2013. Maryland, as a participating state, sold 9,579,963 allowances for vintage year 2013 at $2.80 per allowance. (See RGGI Press Release.)
The Regional Greenhouse Gas Initiative (RGGI) is a cooperative effort by nine 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 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: Nineteenth CO2 Auction held on March 13, 2013. More information here.
Maryland CO2 Budget Trading Program: Information regarding offset projects can be found here
REGULATIONS AND RELATED MEETINGS: 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.