RGGI Conducts First CO2 Allowance Auction

Law360, New York (August 5, 2008, 12:00 AM EDT) -- Taking another key step toward becoming the first domestic mandatory program for the regulation of greenhouse gases, the Regional Greenhouse Gas Initiative (“RGGI”) provided notice of its first carbon dioxide (“CO2”) allowance auction.

RGGI is a cooperative effort by 10 states located in the mid-Atlantic and Northeast to regulate CO2 emissions from fossil-fuel fired power plants through the use of a cap-and-trade regulatory regime.

Six of the 10 participating states will offer CO2 emission allowances for sale during the initial auction – Connecticut, Maine, Maryland, Massachusetts,...
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