First-in-the-Nation Auction of Carbon Dioxide Emission Allowances Set to Go Live

Press Release

Maryland Department of the Environment

Media Contact

Jonathan Schrag
RGGI, Inc.
(646) 591-8559

First-in-the-Nation Auction of Carbon Dioxide Emission Allowances Set to Go Live

What

On Thursday, September 25th, the Regional Greenhouse Gas Initiative (RGGI) will conduct the first in the nation auction of carbon dioxide emission allowances.

 

Who

The participating states of the Regional Greenhouse Gas Initiative: Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont.

 

When

Thursday, September 25, 9:00 am – 12:00 pm Eastern Daylight Time.

 

Why

The ten northeast and Mid-Atlantic States pioneering the auction have designed the first market-based, mandatory, cap-and-trade program in the U.S. to reduce greenhouse gas emissions from electric generating units.

The September 25th auction will offer 12,565,387 CO2 allowances, including CO2 allowances issued by Connecticut, Maine, Maryland, Massachusetts, Rhode Island and Vermont. Any CO2 allowances purchased at this auction can be used by a regulated facility for compliance in any of the RGGI states, even if that state does not offer allowances in this auction.

 

About the Regional Greenhouse Gas Initiative

The Regional Greenhouse Gas Initiative (RGGI) is a cooperative effort by participating states to reduce emissions of carbon dioxide (CO2), a greenhouse gas that causes global warming.

RGGI, Inc. is a nonprofit corporation created to provide technical and administrative services to the Regional Greenhouse Gas Initiative CO2 budget trading programs of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont.

 

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