2008/12/19 RGGI States Raise Millions for Energy Efficiency Press

RGGI States Raise Millions for Energy Efficiency

State by State Breakdown of Revenue Raised for Efficiency & Clean Energy Programs

For Immediate Release
December 19, 2008

Contact:
Jeremy Marin, Communications Manager: (617) 947-2409
Dan Sosland, Executive Director: (207) 236-6470
Peter Shattuck, Research Analyst: (617) 742-0064 or (857) 636-2502 (cell)

BOSTON, MA — The clearing price of $3.38/ton at the December 17 RGGI auction raised more than $106.5 million, the majority of which will be invested in expanded energy efficiency programs.

“Each RGGI state is auctioning allowances to emit carbon dioxide, raising millions of dollars and then reinvesting in expanded energy efficiency programs.  Efficiency programs benefit consumers and reduce RGGI program costs,” said Dan Sosland, executive director of ENE (Environment Northeast). “Until now we’ve essentially been giving power plant owners freedom to pollute. Now states can use the funds from these carbon allowances to make our homes, schools and businesses more energy efficient. These are critical elements that should be incorporated into a national CO2 cap and trade program.”

A summary of how much revenue each state raised and where those funds will be spent is available by going to www.env-ne.org and clicking on “RGGI Allowance Allocations & Use of Auction Proceeds.” 

The auction, as expected, went off without a hitch. More than 31.5 million carbon allowances were sold at a price of $3.38 per ton.

“Economic trends and fuel prices fluctuate, but it is clear that RGGI is going to continue helping consumers through expanded efficiency programs across the region,” said Sosland. “In today’s troubled economy that is one thing you can take to the bank.”

See the RGGI Auction Tracker at our Web site: www.env-ne.org

On Wednesday ENE released the report, RGGI Emissions Trends & the Second Allowance Auction,

Additional ENE background documents on RGGI can be found at: http://www.env-ne.org/projects/open/p/id/331/program/Climate%20Change%20Solutions

The official RGGI web site is: www.rggi.org