Regional Greenhouse Gas Initiative Releases Auction Materials

On July 24, 2008, the Regional Greenhouse Gas Initiative (RGGI) announced the release of auction materials for North America’s first CO2 emission allowance auction.  RGGI is a cooperative effort by ten Northeast and Mid-Atlantic states to reduce regional greenhouse gas emissions by power plants through a CO2 cap-and-trade system that will officially start on January 1, 2009.  The release of auction materials marked the start of a 60-day countdown to the first auction, which will be held between 9 AM and 12 PM EDT on September 25, 2008.  The online auction will place on the market 12,565,387 CO2 emission allowances for purchase by electric utilities.

Press Release
RGGI Auction Materials