NEW YORK CITY-- The nine Regional Greenhouse Gas Initiative (RGGI) states hosted the next in a series of stakeholder meetings today in their 2016-2017 RGGI program review to establish limits on carbon pollution emissions from the region’s electric sector between 2020 and 2030. During today’s meeting state officials reviewed potential policy scenarios to be considered in the program review, with the hopes of deciding on a scenario in the coming months.
The states modeled three different scenarios for the future of the program. The data released by RGGI shows that there is essentially no difference in power prices -- this, advocates maintain, is one of the main reasons the states should select the strongest carbon reduction plan available.
The meeting comes during a troubling budget fight in Connecticut where lawmakers have proposed to raid RGGI funds for other programs despite the fact that RGGI has provided tens of millions of dollars in private investments throughout the state--investments which have decreased energy costs for manufacturers and local businesses while spurring job growth.
The participating states included in RGGI are Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont.
In response Mark Kresowik, Eastern Region Deputy Director for the Sierra Club’s Beyond Coal Campaign issued the following statement:
“Connecticut needs to step up and be a leader the region can follow by publicly calling for the states to adopt the strongest carbon reduction limit currently under consideration. Just this month, Governor Malloy announced that Connecticut will remain committed to the goals set forth by the Paris Agreement. Now is his time to turn that pledge into policy.
“RGGI has the ability to save consumers money, boost economic development through energy efficiency and renewable energy initiatives, and re-invest money back into the state. While it's not the only solution to Connecticut’s budget woes, it's a critical program that will help bring funding and investment at a time when it is needed the most.”
###