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New Jersey Planning to Rejoin RGGI Pact (Ind. Report)
RGGI
Date: 2018-12-19
In Trenton, New Jersey governor Phil Murphy (D) reports the Garden State's Department of Environmental Protection has formally proposed two rules intended to ease New Jersey's re-entry into the Regional Greenhouse Gas Initiative (RGGI). In 2011, former Republican governor and presidential wannabe Chris Christie pulled the state out of the pact at an estimated loss of $154 million in potential revenue.

REGGI members New England states working to reduce carbon-dioxide gas emissions from the energy sector through a cap-and-trade auction process that encourages more market efficiencies, invests in renewable energy, and improves power-plant technology. New Jersy was a founding member of RGGI. Present membership includes Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont. Virginia is planning to join RGGI.

The first of the two proposed rules establishes the mechanisms for rejoining RGGI and sets the initial carbon-dioxide cap for the state's electricity generation sector at 18 million tons in 2020. The 18-million-ton CO2 cap in the Emissions Trading Rule proposal is below the estimated actual emissions of 20.6 million tons in 2020. The cap will decline 3 pct per year through 2030 with other adjustments that are standard to all member states.

The second rule establishes the framework for how the state will spend proceeds from RGGI carbon-dioxide allowance auctions.

Access the rule proposals HERE. Information on New Jersey's re-entry to RGGI is HERE. (Source: State of New Jersey, Office of Gov. Phil Murphy, PR, 17 Dec., 2018) Contact: Office of the Governor, (609) 292-6000, https://nj.gov/governor; RGGI, www.rggi.org

More Low-Carbon Energy News RGGI,  New Jersey RGGI,  


Garden State Returning to the RGGI Fold (Ind. Report, Reg & Leg)
RGGI,New Jersey Clean Energy
Date: 2018-01-31
Further to our Jan. 24th coverage, New Jersey Governor Phil Murphy (D)has reportedly signed an executive order to put his back in the nine-state Regional Greenhouse Gas Initiative (RGGI). The order reverses former Republican Governor Chris Christie's withdrawal of the Garden State from the well established and innovative program.

The nine RGGI states include Connecticut, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont. The program has been credited with raising close to $3 billion for member state clean-energy and energy efficiency programs over the past decade, as well as with cutting RGGI state carbon emissions by 30 pct. (Source: New Jersey Clean Energy, RGGI, EDF, Observer, Others, 28 Jan., 2018) Contact: RGGI, (212) 417-3179, www.rggi.org

More Low-Carbon Energy News RGGI,  New Jersey RGGI,  


New Jersey Senate Advances RGGI Participation (Reg & Leg)
RGGI
Date: 2018-01-24
Further to our January 12 coverage, the Garden State legislature is preparing to rejoin the Regional Greenhouse Gas Initiative (RGGI) carbon emissions cap-and-trade program. To that end, the NJ Senate Environment and Energy Committee has advanced legislation requiring the state's participation in the RGGI program and apply all revenues from the program to clean energy projects. Former Gov. Chris Christie pulled the state from the program in 2012 on the grounds that it was "ineffective in reducing greenhouse gases and increase energy costs for businesses and consumers."

The nine state Regional Greenhouse Gas Initiative -- Connecticut, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont -- over the last decade has been creidted with raising close to $3 billion earmarked for clean-energy and energy efficiency programs and with cutting RGGI state carbon emissions by 30 pct. (Source: RGGI, Observer, Others, 22 Jan., 2018) Contact: RGGI, (212) 417-3179, www.rggi.org

More Low-Carbon Energy News RGGI,  New Jersey RGGI,  Cap-and-Trade,  

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