RGGI To Hold First Ever US Carbon Auction

Law360, New York (September 22, 2008, 12:00 AM EDT) -- The Regional Greenhouse Gas Initiative, a coalition of 10 northeastern states that is implementing a cap-and-trade program to reduce carbon dioxide emissions from power plants, will hold the U.S.' first carbon auction on Thursday after more than five years of planning.

According to RGGI, the first auction will include over 12.5 million CO2 emission allowances. Each allowance permits a source to emit one ton of CO2. In order to participate in the auction, bidders were required to submit a notice of intent by Aug. 8....
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